Business Digest, March 11, 2013
Compensation at the world's biggest banks rose last year, with 35 of them spending a combined €10 billion (HK$102 billion) more on staff than in 2011. Philippe Lamberts, a Belgian member of the European Parliament who supported a recently agreed cap on bank bonuses, says the figures prove that, left to their own devices, banks do not reduce pay.
Compensation at the world's biggest banks rose last year, with 35 of them spending a combined €10 billion (HK$102 billion) more on staff than in 2011. Philippe Lamberts, a Belgian member of the European Parliament who supported a recently agreed cap on bank bonuses, says the figures prove that, left to their own devices, banks do not reduce pay. Reuters
Mainland banks extended 620 billion yuan (HK$773 billion) in loans last month, missing market expectations of 750 billion yuan, down sharply from January's 1.07 trillion yuan, official data showed, as the central bank moved to withdraw liquidity to ward off inflationary risks. Reuters