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|Posté le: Mer 26 Sep - 05:34 (2018) Sujet du message: Consequently， at least 10 financial institutions
|BUDAPEST Puma Fenty Bow Slide Olive Verte , Aug. 18 (Xinhua) -- Dezso Gyarmati, the most successful water polo player in Olympic history and perhaps the greatest water polo player ever Puma Fenty Bow Slide Bordeaux , is dead at the age of 85, local wire service MTI reported.
Gyarmati was a member of Hungary's water polo team at five different Olympics Puma Fenty Bow Slide Noir , medaling in all. He won gold at the 1952 Helsinki, the 1956 Melbourne and the 1964 Tokyo Olympics Puma Fenty Bow Slide Rose , silver at the 1948 Games in London, and bronze at the 1960 Olympics in Rome.
He also played on the 1954 and 1962 European champion teams.
In 1976 he coached the Hungarian water polo team to victory in the Montreal Olympics. His team won to silver at the 1972 Munich Olympics and to bronze at the 1980 Moscow Games under his coaching. He also coached his team to gold at the 1980 World Championships puma leadcat fenty blanche , and to silver in 1975 and 1978. The Hungarian team also won the European championships in 1974 and 1977 under his leadership.
Gyarmati had a brief political career, serving as a Member of Parliament from 1990 to 1994. Gyarmati was inducted into the International Swimming Hall of Fame in 1976.
He is survived by his daughter Andrea puma leadcat fenty rose , who won silver in the 100m backstroke and bronze in the 100m butterfly in the 1972 Munich Olympics.
NAIROBI， Feb. 13 (Xinhua) -- Kenyan banks are laying off workers and closing branches as they pursue a digital strategy to cut costs following the capping of interest rates.
Interest on loans were last September capped at 4 percent above the Central Bank of Kenya (CBK) benchmark rate currently standing at 10 percent.
Consequently， at least 10 financial institutions out of the 42 that operate in Kenya have responded by announcing job cuts and closure of branches， with over 970 workers having been axed and at least 21 branches closed.
The sackings are not only affecting branches in the country but even those in other East African nations where the financial institutions operate subsidiaries.
Equity Bank， Kenya's biggest bank by customer bank， has send home some 400 workers in the past months， industry data showed.
Standard Chartered Bank follows closely with 300 workers while First Community and Sidian Bank follow with 106 and 108 workers.
Kenya Commercial Bank， similarly， announced last week that it would lay off 28 workers at its Rwandan branches as the bank undergoes restructuring.
On the other hand， Bank of Africa and Eco Bank， have announced they would close 12 and nine branches respectively in the past months as they said they are pursuing a digital strategy that include launching of financial apps which their customers can use to transact and working with agents.
"Cost rationalization measures in the banking sector， such as laying off staff and closing branches continues. Some 10 banks have announced downsizing plans since the implementation of the interest rate cap in September，" Cytonn， a Nairobi based investment firm in Nairobi， said Monday in a statement.
Analysts said that Kenyan banks are at a crossroad， and have no choice but to go digital， with the capping of interest rates having worsened their plight as they were already facing tough competition from telecoms， which are offering financial services， reaching out to millions.
"The banks tried to fight mobile money when it was being introduced and they failed miserably. Having realised that is where majority of Kenyans are transacting their financial services， they started partnering with the telecoms to launch loan products， which are doing well，" said Henry Wandera， an economics lecturer in Nairobi， adding that the current squeeze in the industry was mainly as a result of the interest capping law.
Their quest to unseat the telecoms， however， is still alive. Six commercial banks last week received regulatory approval to implement the Real Time Interbank Switch System on their banking platforms.
The system will facilitate the real time transfer of cash from one bank account to another and will enable mobile phone users to send and receive money without relying on mobile money transfer services such as M-pesa， Airtel Money and Orange Money as intermediaries.
However， the pressure on the banks seems it would not be over soon， according to Cytonn. Starting January 1， 2018， the banks would be compelled to adhere to the International Financial Reporting Standards (IFRS) 9， which requires them to increase their loan loss provisioning.
"The new standard stipulates that banks should implement a forward looking approach to estimate credit losses， compared to the current International Accounting Standards (IAS) 39 standards that only requires banks to provide for loans after they have become non-performing，" said the Cytonn statement.
The new approach would， therefore， result in banks' loan loss provisions increasing up to 50 percent across all loan asset classes.
"We are of the opinion that the new rules will lead to a more stable and safe banking sector， however the increased provisioning will put pressure on capital ratios and may lead to capital raisings，" said the investment firm.
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