МИНИСТЕРСТВО ОБРАЗОВАНИЯ И НАУКИ РФ ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ БЮДЖЕТНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ «ВОРОНЕЖСКИЙ ГОСУДАРСТВЕННЫЙ УНИВЕРСИТЕТ» BANKING AND MANAGEMENT Учебно-методическое пособие Составитель Е. <...> Ушакова Воронеж Издательский Дом ВГУ 2014 1 Утверждено научно-методическим советом факультета романо-германской филологии 23 сентября 2014 г., протокол № 7 Рецензент: профессор, зав. каф. английского языка А. <...> The profile of an effective manager . 19 3 UNIT 1. <...> What factors determine the profitability of a bank? <...> Easy money Britain's high street banks are extremely profitable - and widely criticized for their poor performance. <...> Andrew Buxton, chairman of Barclays, ought to have looked a troubled man as he presented his 5 bank's annual results last week. <...> In the last year, Barclays had lost a chief executive, dropped £205 m on rash trading in the bond markets, another £153 m on bad loans to 10 Russian customers, and had let its operating costs run out of control. <...> In the same year, Lloyds TSB 15 reported a 14 per cent increase in its pre-tax profits to £3.29 bn, equivalent to an after-tax return on shareholders' equity of 33 per cent. And other British banks made similar profits. <...> The first part of the answer lies in the condition of the UK economy at large. <...> In principle, bank profits are built for the most part on the volumes of loans they make and the deposits they collect; the margins between the interest rates for these two sides of their balance sheet gives them their profits (or losses). <...> But in a mature market such as the UK, it is hard for a very large bank to expand loan and deposit volumes much beyond the level of the economy as a whole, and even harder to widen net interest margins. <...> The biggest factor in bank profits has therefore been the level of bad debts. <...> In 1992, when banks' accounts showed the worst of the effects of the last UK recession, the seven principal banks set aside £6.45bn of bad debt provisions between them. <...> The other side of British banks' profitability reflects an interplay between technology-based efficiency gains and customer inertia. <...> Banks have become <...>
_Banking_and_Management.pdf
МИНИСТЕРСТВО ОБРАЗОВАНИЯ И НАУКИ РФ
ФЕДЕРАЛЬНОЕ ГОСУДАРСТВЕННОЕ
БЮДЖЕТНОЕ ОБРАЗОВАТЕЛЬНОЕ УЧРЕЖДЕНИЕ
ВЫСШЕГО ПРОФЕССИОНАЛЬНОГО ОБРАЗОВАНИЯ
«ВОРОНЕЖСКИЙ ГОСУДАРСТВЕННЫЙ
УНИВЕРСИТЕТ»
BANKING AND MANAGEMENT
Учебно-методическое пособие
Составитель
Е.В. Ушакова
Воронеж
Издательский Дом ВГУ
2014
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Содержание
Unit 1. Profitable banks ......................................................................................... 4
Unit 2. Bank mergers ............................................................................................ 8
Unit 3. Companies and their banks ..................................................................... 12
Unit 4. The work of a fund manager ................................................................... 15
Unit 5. The profile of an effective manager ........................................................ 19
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7. British banks face a lot of competition from other institutions offering financial
services.
8. The British don't complain very much about the service they receive from their
banks.
LANGUAGE PRACTICE
1. Match these terms with their definitions
1. net interest margin
2. provisions
3. return on equity
4. money transmission system
a) money reserved to cover bad debts
b) profit as a percentage of shareholders' capital
c) difference between interest income and interest payments
d) method of transferring funds from one person to another
2. Replace the underlined items with words or phrases from the text that
have a similar meaning.
1. Banks are affected by the state of the UK economy in general.
At large
2. The UK has a very established, loan market.
3. It's difficult for a large bank to increase loan and deposit volumes.
4. The UK's seven principal banks set aside about £6.5 bn of bad debt provision.
5. Banks have closed thousands of branches over the last ten years.
6. Many routine banking tasks are dealt with by computer.
7. A bank branch is expensive to operate.
8. Technologically, British banks are behind their French competitors.
9. Few people change banks in Britain.
10. Most UK banks still make huge profits.
3. Choose the best explanation for each of these words or phrases from the
text.
1. troubled
a) worried
b) pleased
2. rash trading
a) trading without enough care and consideration
b) trading in large volumes
3. let its operating costs run out of control
a) allowed its costs to go over the budget
b) allowed its costs to be checked by external auditors
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4. customer inertia
a) customers don't want to move or change anything
b) customers expect a lot of improvements in service
5. stripping out costs
a) adding to costs
b) removing costs
6. reaped most of the benefits
a) collected most of the benefits
b) lost most of the benefits
4. Find a word or phrase in the text that has a similar meaning.
1 total amounts or quantities
volumes…………………………….
2 system of local offices spread around the country
b………… ...................n ..................
3 highest level recorded over a period
P ...................................
4 designed so as to be of maximum benefit to the
consumer
c………… .................. -f .................
5 when the value of a deposit is added to an account
balance
c……………….. ........
6 banks with the biggest share of the market
l……………… ........... b ..................
5. Match the first half of each sentence with the most appropriate second
half. Notice the words that are used in each sentence to mark a contrasting
idea. (These words are in italics.)
1. Barclays Bank had a troubled year.
2. Banks make a profit on their net interest margin.
3. British banks have introduced a range of technically-advanced services.
4. Canadian customers get deposits credited instantaneously.
a) while UK customers have to wait a few days.
b) yet it managed to make a lot of profit.
c) but it is difficult for them to widen their margins.
d) but they are still behind the French in electronic banking
FOLLOW UP
1. If possible, find the annual results of a bank in your country and report on
its profitability.
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2. Discuss with your colleague from Great Britain how British banks differ
from banks in your country in the way they make their profits?
UNIT 2. Bank mergers
LEAD IN
1. Answer these questions.
a) Which is the correct description of a merger?
When one company gains control of another by buying the majority of its shares.
When two companies, often equal in size, combine to form one new company.
b) What word or words fit the other description above?
2. Discuss these questions.
a) What kinds of banks and financial institutions are there in your country?
b) Is there a trend in your country for smaller banks to merge or be taken over by
larger ones?
Survival of the biggest
By George Graham
A wave of M&A has reshaped the industry, but stuck largely to national
deals.
How big is big? A wave of mergers and acquisitions has completely reshaped
the face of the international finance industry.
Across a range of financial sectors, the tables are being cleared for a handful
of giants, with room still for niche players but little space for the middlesized.
1.
The most dramatic changes came in the investment banking area, where
a range of specialized or regional investment banks found new commercial banking
parents. Many investments bankers now believe the battle for membership of
dominant firms is reaching its closing stages.
'In a lot of industries - telecoms, pharmaceuticals, for example - it is not
unusual to see five global giants survive. Five seems to be the magic number,'
says Hans de Gier, head of Warburg Dillon Read investment bank. 'In investment
banking, too, you will see a handful of global firms which have the cost base but
also have the revenue base to support this vision.'
Some banks have already reached the conclusion that they cannot realistically
hope to be part of that select group, and have scaled back their investment
banking ambitions. In the UK, both Barclays and National Westminster have sold
most of their equity operations and now concentrate solely on debt - more closely
linked to their traditional banking business.
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