At the same time, deposit growth at Chinese banks last year slowed to 12.7 percent after rising 20 percent in 2010, central bank data show.
India has for decades been the world’s largest gold market, but in the final quarter of 2011 demand tumbled by almost half from a year earlier as a collapse in the value of the rupee made gold more expensive for Indian buyers.
Umirzak Shukeyev’s criticisms come as a pointed attack on the fund’s management under his influential billionaire predecessor Timur Kulibayev, who is the son-in-law of the energy-rich Central Asian nation’s president.
While top executive compensation levels in India compare favorably with the West, it is alarming that pay governance is yet to find a prominent place on the board agenda, PwC said in a report on executive remuneration.
The CBA has recorded a statutory net profit after tax for the half year ended Dec 31 2011 of $3.624 billion, a 19% increase on the previous corresponding period, in a strong result unaided by its wealth management arm which recorded a loss.
"Our longer term goal is to be recognized as Australia's premier boutique private wealth management firm, with a presence in all major cities in the country," said Kelly