Citigroup and Nikko Cordial announced today that they have agreed that Citigroup will launch a tender offer for 100% of Nikko Cordial's shares at ¥1,700 per share. Citigroup expects to launch the all-cash tender offer as soon as practicable. The boards of both companies have approved the launch of Citigroup's tender offer at this price.

The Bank of England's Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5.25%.

Acquiring Compass Banco Bilbao strengthens its presence in the southern US, one of the most attractive financial markets in the country, where BBVA has been present through its acquisitions of Laredo National Bancshares in 2005 and State National Bancshares and Texas Regional Bancshares in 2006.

The 9.6 billion transaction will place Banco Bilbao (BBVA) among the top 20 banks in the US, becoming a regional leader in the markets of Texas, Alabama, Arizona and New Mexico and also with a significant presence in Florida and Colorado.

Armeconombank, together with Lufthansa German Airways and Hertz car renting company, introduce a unique offer in the card market of Armenia, MasterCard Standard Co-branded cards.

Armenian banking system has reached substantial results on its activity route. It is undoubtedly the most developed economy sector at present. Continuous reforming process as well as regulating legislation reviews and improvements obviously had serious impact on the banking system development. Changes of return on equity and assets profitability of commercials banks has reflected in growth of both indices - 12.9% and 2.7% respectively in 2005.