DOCSLIB.ORG

Interim Report Ii Current Accounts and Related Services

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Interim Report Ii Current Accounts and Related Services EUROPEAN COMMISSION Competition DG Services Financial Services (Banking and Insurance) INTERIM REPORT II CURRENT ACCOUNTS AND RELATED SERVICES Sector Inquiry under Article 17 Regulation 1/2003 on retail banking 17 July 2006 Commission européenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11. TABLE OF CONTENTS TABLE OF CONTENTS ..................................................................................................... 2 EXECUTIVE SUMMARY.................................................................................................... 6 1. INTRODUCTION – PURPOSE, DEFINITIONS AND METHODOLOGY ................................. 12 1.1. Purpose and legal basis of the sector inquiry ................................................... 12 1.2. Why the Commission launched its sector inquiry into retail banking ............ 13 1.3. Defining retail banking activity............................................................................. 13 1.4. Retail banking products and services ................................................................ 14 1.5. Methodology of the sector inquiry....................................................................... 15 1.6. The structure of this report................................................................................... 18 2. MARKET FEATURES .............................................................................................. 19 2.1. General characteristics of retail banking markets ............................................ 19 2.1.1. Supply side ..................................................................................................... 19 2.1.2. Demand side .................................................................................................. 22 2.2. Fragmented retail banking markets within the EU ........................................... 22 2.3. Potential competition issues ................................................................................ 23 3. REGULATORY FRAMEWORK FOR RETAIL BANKING.................................................... 26 3.1. Competition policy framework for retail banking in the EU ............................. 26 3.1.1. The changing role of competition policy in retail banking ....................... 26 3.1.2. Competition policy in banking in the European Union............................. 27 3.1.3. Best practice in applying competition policy in retail banking ................ 28 3.2. The framework for banking supervision and competition issues ................... 29 3.2.1. Impact of new capital adequacy framework .............................................. 30 3.2.2. Relationship between competition and financial stability ........................ 31 3.2.3. Cross-border banking mergers.................................................................... 32 3.3. Non-supervisory aspects of retail banking regulation and competition ........ 35 3.3.1. Pricing regulation........................................................................................... 35 3.3.2. Licensing of cross-sectoral activities .......................................................... 36 3.3.3. Geographical restrictions.............................................................................. 37 3.3.4. Consumer protection rules and banking competition .............................. 37 3.4. Direct state intervention in the retail banking sector ........................................ 39 3.4.1. Abolition of unlimited state guarantees in favour of public banks.......... 39 3.4.2. Remuneration for capital injections into financial institutions ................. 39 3.4.3. Equal tax treatment ....................................................................................... 40 3.4.4. Compensation for providing services of general economic interest...... 41 3.4.5. Rescue and restructuring aid to financial institutions .............................. 41 4. MARKET STRUCTURES AND CONCENTRATION.......................................................... 43 4.1. Market definition..................................................................................................... 43 4.2. Scope of the analysis, data and limitations ....................................................... 44 2 4.3. Concentration at the national level ..................................................................... 47 4.4. Concentration at the regional level ..................................................................... 52 5. FINANCIAL PERFORMANCE OF RETAIL BANKS .......................................................... 58 5.1. Long-term trends in the profitability of the EU banking sector ....................... 58 5.1.1. Pre-tax profitability as a share of gross banking income ........................ 59 5.1.2. Profitability measured by the rate of return on assets ............................. 59 5.2. Market data on retail banks’ financial performance ......................................... 60 5.2.1. Caveats on the market data......................................................................... 61 5.3. Gross income from retail banking activity.......................................................... 61 5.3.1. Banks’ total income from retail banking activity........................................ 61 5.3.2. Banks’ retail income by product line........................................................... 63 5.4. Comparison of EU retail banks’ profitability and costs .................................... 72 5.4.1. Profitability of retail banks in the EU........................................................... 72 5.4.2. Cost bases of retail banks in the EU .......................................................... 74 5.4.3. The relationship between retail banking profitability and costs.............. 75 5.5. Relationship between market conditions and financial performance ............ 76 5.5.1. Bank size and profitability............................................................................. 77 5.5.2. Market share and profitability....................................................................... 77 5.5.3. Bank size and cost-income ratios ............................................................... 78 5.5.4. Market size and cost-income ratios ............................................................ 79 6. SELECTED COMPARISONS OF PRICES AND ACCOUNT USE ......................................... 82 6.1. Introduction............................................................................................................. 82 6.2. Interest rate dispersion in the euro area ............................................................ 82 6.2.1. Evolution of the euro area aggregates....................................................... 83 6.2.2. Differences among euro area Member States.......................................... 83 6.2.3. Dispersion within euro area Member States ............................................. 84 6.3. Selected comparisons of account use and charges for making payments.. 84 6.3.1. Data sources .................................................................................................. 85 6.3.2. The use of current accounts to make payments ...................................... 85 6.3.3. Banks’ income: account management fees and fees for selected payments transactions.................................................................................................. 88 7. CUSTOMER MOBILITY AND CHOICE ......................................................................... 91 7.1. Factors reducing customer mobility in retail banking....................................... 91 7.1.1. Administrative burden ................................................................................... 93 7.1.2. Information asymmetry and low price transparency ................................ 94 7.1.3. Cross-selling and bundling of banking products....................................... 95 7.1.4. Customer preferences and choice.............................................................. 96 7.1.5. Closing charges ............................................................................................. 97 7.2. Analysis of customer mobility in retail banking across the EU....................... 98 7.2.1. Customer mobility in the retail banking industry across the EU............. 98 7.2.2. Customer churn ............................................................................................. 99 7.2.3. Longevity of the banking relationship....................................................... 103 7.2.4. The extent of cross-selling in retail banking ............................................ 106 7.2.5. The extent of banks’ practice of tying products ...................................... 108 7.3. The relationship between customer mobility and market performance ...... 110 7.3.1. Customer mobility and retail banking profitability................................... 111 3 7.3.2. Customer mobility and banking market concentration........................... 112 7.3.3. Customer mobility and patterns of cross-selling..................................... 112 7.3.4. Analysis of customer mobility at bank level............................................. 113 7.3.5. Cross-selling and banking sector performance ...................................... 114 7.3.6. Conclusions of correlation analysis .......................................................... 115 7.4. Possible measures to reduce obstacles to customer mobility and strengthen competition ......................................................................................................................
Load more

Recommended publications
  • Applicant Data Privacy Notice
    Applicant Data Privacy Notice Applicant Privacy Notice Before we begin This notice (Privacy Notice) applies to personal information relating to your application for employment with HSBC Group held by members of the HSBC Group as data controllers, as described below. It explains what information we collect about you, how we’ll use that information, who we’ll share it with, the circumstances when we’ll share it and what steps we’ll take to make sure it stays private and secure. This Privacy Notice covers all aspects of your interaction with HSBC in your capacity as an applicant, including recruitment and pre- employment screening and we may update this notice at any time. Some of the links on our websites lead to other HSBC or non-HSBC websites with their own privacy notices, which may be different to this notice. You’ll need to make sure you’re happy with their privacy notices when using those other sites. Wherever we’ve said ‘you’ or ‘your’, this means you or any authorised person who engages with us on your behalf (e.g. recruitment agencies you have authorised to liaise with us on your behalf). When we say ‘we’, we mean HSBC Group companies (as set out in Appendix 1) which act as a data controller in respect of your personal data in your applicant capacity. Unless otherwise stated below, the data controller for the purposes of this notice will be the HSBC Group company that you have applied for employment with. If you’d like to get in touch with us, you can also find contact details set out in the ‘More details about your information’ section below.
    [Show full text]
  • A Work Project Presented As Part of the Requirements for the Award of a Master’S Degree in Economics from the NOVA School of Business and Economics
    A Work Project presented as part of the requirements for the Award of a Master’s Degree in Economics from the NOVA School of Business and Economics WHAT DRIVES THE ISSUANCE OF GREEN BONDS – WHAT COUNTRY CHARACTERISTICS HAVE AN EFFECT ON THE ISSUANCE OF GREEN BONDS? Julia Maria Menge Rodrigues A Project carried out on the Master’s in Economics Program, under the supervision of: Maria Antonieta Cunha e Sá and João Pedro Pereira Lisbon, Portugal January 2019 WHAT DRIVES THE ISSUANCE OF GREEN BONDS – WHAT COUNTRY CHARACTERISTICS HAVE AN EFFECT ON THE ISSUANCE OF GREEN BONDS? Abstract We perform a two-step analysis to (i) understand what country characteristics influence the probability that green bonds have been issued in it, and (ii) evaluate what country characteristics affect the volume of green bonds issued in it. By running a logistic regression with 119 countries, we find evidence that the level of development, environmental preferences, transparency and quality of the financial markets, and absence of corruption have a positive effect on the probability of green bonds having been issued in a country. Furthermore, our results suggest that conditional on issuance, environmental preferences also have a positive effect on the volume issued in a country. Keywords: Climate Finance, Environmental Preferences, Green Bonds, Green Finance 1. Introduction The transition to a low-carbon, cleaner and more sustainable economy has already begun. While governments are increasingly taking policy actions and investing in those aspects, businesses are incorporating sustainability into their strategies, and the population is becoming more aware and progressively engaging with this cause.
    [Show full text]
  • 27147 October 2003
    Public Disclosure Authorized Public Disclosure Authorized Doing Business in 2004: For more information, visit our Understanding Regulation is website at: the first in a series of annual http://rru.worldbank.org/doingbusiness reports investigating the scope and manner of regulations that enhance business activity and those that constrain it. New quantitative indicators on business regulations and their enforcement can be compared across more than 130 countries, and over time. The indicators Public Disclosure Authorized are used to analyze economic outcomes and identify what reforms have worked, where, and why. Public Disclosure Authorized ISBN 0-8213-5341-1 Doingbusiness in 2004 Doingbusiness iii in 2004 Understanding Regulation A copublication of the World Bank, the International Finance Corporation, and Oxford University Press © 2004 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, D.C. 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail feedback@worldbank.org All rights reserved. 1 2 3 4 05 04 03 A copublication of the World Bank and Oxford University Press. The findings, interpretations, and conclusions expressed here are those of the author(s) and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the endorsement or acceptance of such boundaries.
    [Show full text]
  • Summary on Participants
    SUMMARY ON PARTICIPANTS CENTRAL BANKS / BANQUES CENTRALES B Observers Final List page 64 SUMMARY ON PARTICIPANTS CENTRAL BANKS-AFRICAN / BANQUES CENTRALES AFRICAINES B1 BANK OF KIGALI MR. ALEX BAHIZI NYIRIDANDI OBSERVER C/O Bank of Kigali Ltd Kigarama Kicukiro HEAD OF LEGAL SERVICES 175 kigali Kigali RWANDA MR. JOHN BUGUNYA OBSERVER C/0 Bank of Kigali Limited, 6112, Avenue CHIEF FINANCE OFFICER de la PaixGasabo, Kiyinya 175 175 Kigali RWANDA MR. NAIBO LAWSON OBSERVER KIGALI -RWANDANYARUGENGE CHIEF OPERATIONS OFFICER KIGALI RWANDA MS. LYS MWIZA OBSERVER Bank of Kigali, 6112 avenue de la PRIVATE BANKER paix175 Kigali RWANDA BANK OF KIGALI MR. ENOCK LUYENZI OBSERVER Avenue de la Paix 6112 Kigali Rwanda175 HEAD OF HR&ADMINISTRATION Kigali RWANDA BANK OF MOZAMBIQUE MRS. ESSELINA MAUSSE OBSERVER Av. 25 de Setembro 1695Maputo FOREIGN COOPERATION OFFICER MOZAMBIQUE Observers Final List page 65 SUMMARY ON PARTICIPANTS BANK OF SIERRA LEONE MR. HILTON OLATUNJI JARRETT OBSERVER Sam Bangura BuildingGloucester Street ASSISTANT DIRECTOR, GOVERNOR'S OFFICE 30 Freetown SIERRA LEONE MR. SHEKU SAMBADEEN SESAY HEAD OF INSTITUTION Sam Bangura BuildingGloucester Street GOVERNOR P O Box 30 Freetown SIERRA LEONE BANK OF TANZANIA MR. LAMECK KAKULU OBSERVER 10 Mirambo StreetDar es Salaam FOREIGN EXCHANGE RESERVE MANAGEMENT TANZANIA MR. DAVID MPONEJA OBSERVER BANK OF TANZANIA 2 MIRAMBO HEAD PORTFOLIO MANAGEMENT STREET ,11884 DAR ES SALAAM2939 NONE DAR ES SALAAM TANZANIA BANK OF ZAMBIA DR. EMMANUEL MULENGA PAMU OBSERVER BANK OF ZAMBIA30080 DIRECTOR FINANCIAL MARKETS LUSAKA ZAMBIA MR. BANDA PETER H OBSERVER BANK OF ZAMBIABANK SQUARE SENIOR DIRECTOR - MONETARY POLICY CAIRO ROAD 30080 10101 LUSAKA ZAMBIA Observers Final List page 66 SUMMARY ON PARTICIPANTS BANQUE CENTRALE DE LA REPUBLIQUE DE GUINEE M.
    [Show full text]
  • Biia Newsletter Issue 08 01
    BIIA NEWSLETTER ISSUE 09 I - 2019 September I - 2019 Pages 2 - 4 Late Breaking News: • BIIA 2019 Biennial Conference: Only 8 weeks to go! There is still time to register [click here] - We have updated our events pages [click here] • Fraud Detection and Prevention Market to Surpass US$ 63.5 billion by 2027 Pages 5 - 10 Member News: • Tinubu Square Reaches Top of 5 Corda Insurtech Challenge • Dun & Bradstreet Mentioned as Third Party Data Validator in IBM/Chainyard Blockchain Network • Black Knight Earnings Impacted by Its Investment in Dun & Bradstreet • WATERS Rankings 2019: S&P Global Market Intelligence Ranked as Best Alternative Data Vendor • TU Healthcare Ranked #1 in Black Book’s 2019 Financial • Experian on the Acquisition Trail - Look Who’s Charging - PlaceIQ - Myhealthdirect • Creditsafe USA Named One of the Fastest Growing Companies in the US. - For 3rd Year in a Row • CTOS Launches SME Score Solution to Assess SME Creditworthiness Pages 11 - 13 Industry News: • Indian Credit Rating Agencies in the Dock over Misconduct • Customer Data Platform Industry Grew 71% in One Year; Will Reach $1 Billion Revenue in 2019 • DataRobot Launches its First AI Investment Workflow with FactSet • DataRobot Acquires ParallelM • Surge of Attacks on Banking & Finance Using N Korean Tools Pages 14 - 16 Credit Bureau News: • Equifax Launches Core CreditTM • Canadian Finance Minister Wants Equifax, TransUnion to Offer Credit Freezes • Creditinfo: Kamau Kunyiha Appointed to Head Creditinfo in East Africa • Cyber Security Specialists Out Front • BIIA Thanks its Sponsors for Supporting the BIIA 2019 Biennial Conference BIIA 2019 Biennial Conference Okura Prestige Hotel, Bangkok, Thailand October 30th – November 01, 2019 To View the AGENDA To REGISTER Copyright © BIIA 2019 - For Member Internal Use Only – To Request Permission to Publish Contact: biiainfoasia@gmail.com The content of this newsletter does not necessarily reflect the opinion of BIIA and its members.
    [Show full text]
  • Information Memorandum
    INFORMATION MEMORANDUM In connection with the acquisition of SPP Livförsäkring AB and certain other entities by Storebrand ASA No shares or other securities are being offered or sold in any jurisdiction pursuant to this Information Memorandum. 28 September 2007 IMPORTANT NOTICE This information memorandum (the "Information Memorandum") has been prepared in connection with Storebrand ASA's ("Storebrand" or the "Company" and, taken together with its consolidated subsidiaries, the "Group") indirect acquisition from Svenska Handelsbanken AB (publ.) ("Handelsbanken") of (i) SPP Livförsäkring AB ("SPP"), and thereby indirectly in addition to the existing subsidiaries of SPP, (ii) Handelsbanken Life & Pension Limited (formerly Euroben), (iii) SPP Fonder AB, (iv) Handelsbanken Varumärkes AB, and (v) 50 per cent. of the preference shares in Nordben Life & Pension Insurance Co. Ltd. (the "Transaction"). SPP currently owns 50 per cent. of Nordben Life & Pension Co. Ltd's ordinary share capital, and this interest will hence also be acquired as part of the Transaction. The Group, taken together with SPP and the other companies and interests to be acquired in the Transaction will be referred to herein as the "Enlarged Group". No shares or other securities are being offered or sold in any jurisdiction pursuant to this Information Memorandum. This Information Memorandum has been submitted to Oslo Stock Exchange for inspection and approval before it was published. This Information Memorandum is not a prospectus and has neither been inspected nor approved by the Oslo Stock Exchange in accordance with the rules that apply to a prospectus. All inquiries relating to this Information Memorandum must be directed to Storebrand.
    [Show full text]
  • Keeping up with the New Reality
    2020 MANAGEMENT REPORT AND REPORT MANAGEMENT STATEMENTS FINANCIAL KEEPING UP WITH THE NEW REALITY 20 20 TBC Bank1 is the largest banking group in Georgia, serving around 92% of the country’s adult population. CONTENTS MANAGEMENT REPORT FINANCIAL STATEMENTS Overview Independent auditors’ report 134 At a glance 4 Consolidated statement of financial position 140 2020 highlights 6 Consolidated statement of profit or loss and other comprehensive income 141 CEO letter 8 Consolidated statement of changes in equity 142 Strategy & Performance Consolidated statement of cash flows 143 Separate statement of financial position 144 Georgia 12 Separate statement of profit or loss and Business model and strategy 16 other comprehensive income 145 Key performance indicators 22 Separate statement of changes in equity 146 Divisional overview 26 Separate statement of cash flows 147 Doing business responsibly 58 Notes to the financial statements 148 Material existing and emerging risks 82 Risk management 93 ADDITIONAL INFORMATION Financial review 110 Glossary 274 Abbreviations 275 GOVERNANCE Corporate governance 124 Supervisory Board biographies 126 The Bank’s Management Board biographies 130 For more information visit our website www.tbcbankgroup.com 1 TBC Bank refers to JSC TBC Bank (the Bank) and its subsidi- aries (together Group) TBC BANK MANAGEMENT REPORT 2020 3 AT A GLANCE WHO WE ARE ? We are a leading universal financial group in Georgia with market shares1 of 39.0% and 37.2% in total loans and deposits respectively. We have a strong presence across all our major business segments – retail banking, micro, small and medium enterprises (MSMEs) and corporate banking. We also offer a wide range of traditional financial services paired with innovative digital solutions, creating a seamless customer experience.
    [Show full text]
  • Doing Business in 2005 -- Removing Obstacles to Growth
    Doing Business A copublication of the World Bank, the International Finance Corporation and Oxford University Press in 2005 Removin g O b s ta c l e s t o Growth © 2005 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, D.C. 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail feedback@worldbank.org All rights reserved. 1 2 3 4 08 07 06 05 A copublication of the World Bank, the International Finance Corporation and Oxford University Press. The findings, interpretations, and conclusions expressed here are those of the authors and do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the gov- ernments they represent. The World Bank cannot guarantee the accuracy of the data included in this work. The bound- aries, colors, denominations, and other information shown on any map in this work do not imply on the part of the World Bank any judgment of the legal status of any territory or the en- dorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. No part of this work may be reproduced or transmit- ted in any form or by any means, electronic or mechanical, including photocopying, recording, or inclusion in any information storage and retrieval system, without the prior written permis- sion of the World Bank. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint, please send a request with complete information to: Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA telephone 978-750-8400, fax 978-750-4470, www.copyright.com.
    [Show full text]
  • Experian Austria Austria (Finanzmarktaufsicht
    Country BCN Bureau Germany Germany (BaFin) Experian Austria Austria (Finanzmarktaufsicht – FMA) - English version Experian Belgium Belgium (NBB) - French version / Dutch version Experian Bulgaria Bulgaria (Bulgarian National Bank) - English version Experian Croatia Croatia (Croatian National Bank) Hrvatski Registar Obveza Po Kreditima Denmark Denmark (Finanstilsynet) - English version Experian Slovakia Slovak Republic (Central Bank of Slovakia) - English version CreditInfo Slovakia Slovenia Slovenia (Bank of Slovenia) - English version SISBON Spain Spain (Banco de Espana) - English version Experian Estonia Estonia (Estonian Financial Supervision Authority) Krediidiinfo AS Finland Finland (Finanssivalvonta) Experian France France (Autorite de controle prudentiel) Experian Greece Greece (Bank of Greece) Experian Hungary Hungary (Central Bank of Hungary) - English version BISZ Zrt Ireland Ireland (Central Bank of Ireland) Experian Italy Italy (Banca d'Italia) - English version Experian Latvia Latvia (Financial and Capital Market Commission) Creditinfo Lithuania Lithuania (Central Bank of Lithuania) Creditinfo Luxembourg Luxembourg (CSSF) - English version Malta Malta (Financial Services Authority) CreditInfo Netherlands Netherlands (De Nederlandsche Bank NV) - English version Experian Poland Poland (Polish Financial Supervision Authority) - English version Experian Portugal Portugal (Banco de Portugal) Equifax Iberica (Credinformações) Czech Republic Czech Republic (Czech National Bank – CNB) - English version Experian Romania Romania (National
    [Show full text]
  • Choiseul-100-Africa-2015-VA.Pdf
    RANKING 2O15 AFRICA Economic Leaders for Tomorrow PARTNERS 2 Dr. Pascal Lorot President, Institut Choiseul fter remaining to the rim of the global This tremendous dynamic is linked to Aeconomy and the main financial and the emergence of a young economic commercial flows for a long time, Africa leading class, well trained, with an open is now considered as a central economic outlook, connected to global economic actor at a global scale. These last few years, and information flows generated by it even became an essential driving force of globalization. Those young leaders are global growth. shaping a modern African economy, open High performing activity can be to the world, with new opportunities spotted everywhere. Economic growth flourishing everywhere these days. is gaining all parts of the continent. Those young leaders are carrying the Africa is progressively stepping out of its future of their continent. They send a dependency to raw materials and is rapidly great message of hope. Africa has taken a becoming more diverse, by investing in successful start indeed ; it is willing to be higher added-value sectors. A middle class part of global growth and activity ! is rising in the meantime and is in demand This is the very reality the Choiseul 100 for better consumer goods, products that Africa intends to promote. As a unique used to be only for a restrictive elite until ranking of young African economic then. Centrality of Africa can also be leaders under forty years old and below, attributed to its tremendous demographic the study intends to highlights these dynamic — as one out of four individuals women and men who build today’s Africa will be African by 2050 — and it is why and prepare the one of tomorrow.
    [Show full text]
  • Cwa Monitoring Report Are
    COMPACT MONITORING REPORT MONITORING REPORT CwA 2021 Monitoring Report Africa Advisory Group Meeting April 2021 CwA COUNTRIES »Benin »Burkina Faso »Côte d’Ivoire »Egypt »Ethiopia »Ghana »Guinea» Morocco »Rwanda »Senegal »Togo »Tunisia Report prepared by: In collaboration with: COMPACT MONITORING REPORT ACKNOWLEDGMENTS This report was produced as a collaborative effort between the World Bank Group (WBG), the International Monetary Fund (IMF) and the African Development Bank (AfDB). It also contains an independent review by the African Center for Economic Transformation (ACET). We are grateful to the Governments of the twelve Compact with Africa (CwA) countries for their support in updating the CwA Reform Matrices. World Bank Contributors: Vincent Palmade (Task Team Leader), Armel Jean-Louis Castets, Ileana Cristina Constantinescu, Gemma Torras Vives, Sara Nyman, Juni Tingting Zhu, Etienne Kechichian, Nah Yoon Shin, Shaun Mann, Louise Twining-Ward, Dan Croft, Julio Cesar Urdaneta, Stefan Rajaonarivo, Peter Kusek and Ana Cristina Alonso Soria. IFC Contributors: Sabri Youcef Draia, Alexei Volkov, Sudha Krishnan and Anouk Pechevy IMF Contributor: Irene Yackovlev (section on the macroeconomic outlook) AfDB Contributor: Gassia Assadourian and Memory Dube (section on the Africa Continental Free Trade Area – AfCFTA) - reviewed by Jean- Guy Afrika and Frederik Teufel WBG CwA Country Focal Points who coordinated the Reform Matrices updates with the governments: • Nathalie Picarelli (Benin) • Maimouna Mbow Fam (Burkina Faso) • Alex Tiemann (Cote d’Ivoire) • Robert Bou Jaoude (Egypt) • Marius Vismantas (Ethiopia) • Errol Graham (Ghana) • Boulel Toure (Guinea) • Gabriel Sensenbrenner (Morocco) • Rolande Simone Pryce (Rwanda) • Meriem Ait Ali Slimane (Senegal) • Ernest Sergenti (Togo) • Zouhour Karray (Tunisia) WBG Leadership/Reviewers: Mona Haddad, Caroline Freund, Deborah Wetzel, Ahmadou Moustapha Ndiaye, Sebastien Dessus, Catherine Masinde, Frank Douamba and Patrick Luternauer.
    [Show full text]
  • Credit Bureaus Around the World
    Credit Bureaus Around the World COUNTRY PRIVATE CREDIT BUREAU WEBSITE Argentina Organización Veraz S.A. (Equifax Inc. affiliate) www.veraz.com.ar FELIDAS http://www.fidelitas.com.ar/ NOSIS http://www.nosis.com.ar/SitioNosisWeb/Default.aspx Armenia ACRA Credit Bureau www.acra.am Australia Veda Advantage www.vedaadvantage.com Dun & Bradstreet http://dnb.com.au/ Austria Experian Scorex www.experian-scorex.de/_sterreich.at.0.html Kreditschutzverband von 1870 (KSV) www.ksv.at Bahrain The Benefit Company www.benefitco.com.bh Belgium UPC-BVK Bolivia Entidad De Servicios De Información Enserbic S.A. www.infocenter.com.bo INFOCRED BIC S.A www.infocred.bo Bosnia And Herzegovina LRC Credit Bureau www.lrcbh.com Botswana TransUnion ITC www.transunionitc.co.za CRBAfrica www.crbafrica.com Compuscan Botswana www.compuscan.co.za Brazil Equifax Brasil www.equifax.com.br/default_pse.asp SCPC (SERVIÇO CENTRAL DE PROTEÇÃO AO CRÉDITO) http://www.acia.com.br/scpc.htm Serasa S.A. www.serasa.com.br Bulgaria CreditInfo Bulgaria www.creditinfo.bg/ Experian Bulgaria http://www.experian.bg/ Canada Equifax Canada www.equifax.com/EFX_Canada/ TransUnion www.tuc.ca Cambodia Credit Bureau (Cambodia) Co., Ltd http://www.creditbureaucambodia.com/ Chile Camara de Comercio de Santiago (CCS) www.ccs.cl Databusiness S.A. www.databusiness.cl Equifax Chile www.dicom.cl/ SINACOFI http://www.sinacofi.cl/ SIISA China Huaxia D&B China http://www.huaxiadnb.com Colombia Computec - DataCrédito www.computec.com CIFIN http://cifinpruebas.asobancaria.com Costa Rica Teletec S A (Equifax) www.teletec.co.cr TransUnion Costa Rica www.tuca.org DATUM (Equifax) http://www.datum.net/ Protectora de Crédito Comercial, S.A.
    [Show full text]