AGP Executive Report
Last update: 9 hours agoAfrican Finance: Afreximbank and APPO formally launched the $5 billion Africa Energy Bank in Abuja to finance projects across the energy supply chain, naming Helmy Ghazi as its first president. ECB Leadership: Christine Lagarde will leave the central bank on Feb. 7, about eight months before her term ends. Asia’s Banks: China’s 42 listed banks reported combined first-nine-month revenue up 7.8% and net profit up 3.8%, helped by lower funding costs and investment gains. Thailand raised its growth forecasts but held its policy rate at 1%, warning that gains remain concentrated and household spending weak. India Credit: Bank lending is growing faster than deposits, pushing the loan-to-deposit ratio to 81.6% and raising pressure on funding. The government also formed a panel to recommend banking reforms. Rates & Risk: Egypt’s central bank raised key rates by one percentage point, prompting banks to review savings and loan rates; Serbia revoked Alta Bank’s operating licence amid allegations of large transfers.
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