Greek banks ability to lend and make plans is being hampered by a long-running row between their government and the country’s international lenders over how much more money they need, the deputy chief executive of the country’s largest bank said. National Bank of Greece (ADR) (NYSE:NBG)’s Petros Christodoulou told Reuters in an interview that delaying lending may stymie an expected tentative return to growth in 2014. National Bank of Greece (ADR) (NYSE:NBG) stock opened at $4.82 in last trading session, and closed at $4.78, trading in the range of $2.85 – $24.70. The stock showed a negative weekly performance of -4.21%.
Barclays PLC (ADR) (NYSE:BCS)Africa Group Ltd. (BGA) is outperforming its South African peers for the first time in three years after backing out of a chase for market share in unsecured lending helped stem bad loans and boost profit. The bank is the only stock on the six-member FTSE/JSE Africa Banks Index to show gains this year through yesterday’s close, rising 1.5 percent, compared with the gauge’s 7 percent decline. Even so, it’s still the cheapest lender, trading at 8.8 times estimated earnings against an average of 11 times for its three largest competitors, including Standard Bank Group Ltd. (SBK) at 11.4, according to data compiled by Bloomberg. Barclays PLC (ADR) (NYSE:BCS) shares closed at $17.13 on last trade day, by gaining 0.59%. Stock 52 week range is $15.83 – $20.44. Company’s market capitalization is $69.01 billion.
JPMorgan Chase & Co. (NYSE:JPM) announced that it has reached agreement with shareholder proponents on the withdrawal of two proposals for the 2014 annual meeting. The Sisters of Charity of Saint Elizabeth along with a number of other sponsors had submitted a proposal, now withdrawn, that the board commission a report describing the steps the company has taken to address a number of challenges faced by the bank. The company said it agrees with the Sisters of Charity of Saint Elizabeth that comprehensive communications around best practices and lessons learned is valuable for all of our stakeholders and agreed to prepare a report similar to that proposed. The Needmor Fund had also submitted a proposal, now withdrawn, that the board require that the chair be independent, beginning with the next CEO transition. JPMorgan Chase & Co. (NYSE:JPM) stock advanced 0.56% and finished the last session at $57.58. The EPS of the stock remained 4.36. Company’s market capitalization is $216.28 billion.
Citigroup Inc (NYS:C) Chief Executive Michael Corbat received a 23 percent pay rise in 2013, his first full year after replacing Vikram Pandit at the helm, a regulatory filing on Thursday showed. Corbat earned an estimated $14.1 million in 2013 under Citi’s executive pay structure, which the company overhauled last year amidst shareholder pressure. He had received a salary of $11.5 million in 2012. Citigroup Inc (NYSE:C) stock opened at $48.48 in last trading session and closed at $48.13. The 52 week range of the stock is $40.28 – $55.28 and the day range was $47.88 – $48.53.
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