Saudi British meets market forecasts with 65pc jump in 4Q results

Net income rose to 655 million riyals ($175 million) from 397 million riyals a year earlier, the Riyadh-based lender said in a statement to the Saudi bourse today. The mean estimate of seven analysts was for a profit of 654.4 million riyals, according to


Greece gets closer to brink of bankruptcy

Greece’s finance minister Evangelos Venizelos said talks would resume on Wednesday to “bridge differences” but insiders remained sceptical that a deal could be stitched at such a late stage.


The world according to Goldman Sachs

Ahead of the Davos summit, Goldman Sachs president Gary Cohn talks to The Sunday Telegraph about the outlook for Europe, the US economy and whether 2012 holds any rays of hope.


BNP sells stake in Niger bank

The sale will enable Coris Bank International, a privately held Burkinabe bank, to become the largest shareholder in BIA-Niger, the West African nation's oldest financial institution, which began operations in 1944.


SocGen investment bank cuts signal more pain ahead

The news that France's second-biggest lender is eyeing a "significant" fall in investment banking revenue for 2012 and has decided to exit or deeply cut several businesses is the latest dollop of pain for investment banks worldwide after bu


Emerging markets growth to weaken, says UBS

The Swiss investment bank still expects these countries to outperform industrialised nations but at a slower annualized real growth rate of 5% or less in the first half of 2012, compared with 7-8% at its peak and 5.5% last year, thanks to a moderation in


Banks brace for backlash as bonus season arrives

But announcements of more than 125,000 job cuts last year mean bankers will find it harder to use their traditional excuse that they need to pay out big bonuses to retain top talent.