News

Regulators have lifted the ban on short selling bank stocks in Australia, and not surprisingly the prices fell.

Hong Leong Bank conducted a presentation cum briefing in support of the Financial Guarantee Insurance Scheme of the Malaysian government. The presentation, entitled "Seizing Funding Opportunities During Challenging Times," was held for their valued corporate clients and was the first of its kind among banks.

So the newly returned government is asking the World Bank for $3 billion to recapitalise 17 banks with tier 1 rations of under 14 percent.

Moody's will determine the appropriate systemic support for Thailand's bank ratings and the implications for 11 banks identified as being potentially affected.

Public Bank's new account encourages children to save through automatic transfer of monthly allowances from the parents’ account to their account. Called the PB Bright Star savings account, it is meant to inculcate the savings habit among the young.

They musn't be reading the same newspapers as us, because China Minsheng Bank is planning to issue 15 million credit cards over the next three years.

Maybank hopes to attract its young population to patronise its online deposit service by adopting a green theme for its Yishun branch. Among their efforts: the use of recycled wallpaper."The residents responded very positively which is why Yishun is a suitable Branch to kickstart our 100,000 online deposit account drive. With more than 50 percent of the residents there in the age group of 20-49 years old, we can expect the online accounts to be popular. Bank-wide, we are confident that our iSAVvy suite of deposit accounts will hit the 100,000 mark by end of 2010," said Ms Pollie Sim, Country Head, Maybank Singapore.Maybank was the first Bank in Singapore to launch a suite of online deposit accounts in 2005 and remains the only Bank offering this suite of products which also includes Shariah-compliant online accounts.Maybank Singapore targets to involve over 50 percent of its staff in environmentally-friendly activities by the end of this year.This move will be spearheaded by green ambassadors of the Bank who will undergo energy-saving training programmes and pioneer environmentally-friendly initiatives within the organisation.At least 50 staff members will be appointed green ambassadors.

ANZ Bank Vietnam opened a Transaction Centre in Hanoi and a branch outlet in Ho Chi Minh City. It plans to open a further six new transaction offices over the next month.

No, really. And as well as an indefinite strike, union leaders want more money and a promise not to privatise India's largest bank.

Just days after buying CCB shares from Bank of America, China Life Insurance chief Yang Chao says he would consider selling the shares.

HSBC Limited has completed its acquisition of 88.89 percent of Bank Ekonomi for US$607.5 million. The deal was coursed through its wholly-owned subsidiary of HSBC Asia Pacific Holdings (UK) Limited.

Moody's Investors Service has downgraded the long-term ratings of JEM Southbank Pty Limited to A3 from A2. The outlook is stable.

Maybank Islamic is targeting US$566.7 million in deposits from its launch of two new financial products, within one year. The products are Foreign Currency Mudharabah-i or FCM-i, the first such product in Malaysia, and the Profit Now Account-i or PNA-i.

Banco Santander now has a Seoul office to serve as liaison between Korean corporate and official institutions and Grupo Santander’s global network. It will also provide support to Santander clients doing business in Korea.

Maybank recorded a net profit attributable to shareholders of US$512.89 million for the nine months ending 31 March 2009. Its net profit for the same period last year was US$631.9 million.

The credit stress due to economic recession in the Philippine banking system is low relative to other Asian countries, according to Moody's.