Fitch downgraded major Australian banks

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Source: Forexfactory
Fitch Ratings downgraded three major Australian banks: Commonwealth Bank of Australia's, National Australia Bank Limited's and Westpac Banking Corporation's. Meanwhile, rating of Australia & New Zealand Banking Group was affirmed at aa-. The rating agency cited increased vulnerability of the banks to swings in confidence and weak funding profile.


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Fri, 24 Feb 2012 13:16:38 GMT

Lloyds reports annual loss of USD 4.4 billion

Lloyds Banking Group Plc, one of the UK largest lenders, announced its annual loss for 2011 was worse than expected. The total yearly loss amounted to GBP 2.8 billion (USD 4.4 billion) compared to a GBP 320 million loss in 2010, said Lloyds in its statement. Analysts questioned by Bloomberg earlier predicted a loss of GBP 2.41 billion. 

Fri, 24 Feb 2012 12:34:25 GMT

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