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SBI sees profit from bond sale

14 reads

Will profit substantially from rupee plunge. State Bank of India, the nation’s largest lender, expects to profit after the rupee’s plunge prompted it to accelerate selling its government debt holdings. Read ››

China predicted to launch deposit insurance system this year

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Find out what the 4 major features could be. According to Barclays, financial sector reform is the stated top priority for China's new central government. Read ››

Hong Kong residents investing more in RMB products

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RMB assets to rise to 32% of their portfolios. Read ››

CIMB skills up Malaysian graduates with 6 partners

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CIMB pioneers human capital development programme. CIMB Group signed a partnership agreement with six partners – PricewaterhouseCoopers (PwC), Accenture, DraftFCB, Teach for Malaysia, HP and ZICOlaw – to offer local graduates a dual-track programme designed to broaden their knowledge and cultivate varied skill sets. Read ››

Only 10% of Asia's rich with median investable wealth of US$4.22m use a private bank

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But 15% said they will do so in 2014. According to East & Partners Research, the global private banking industry has made a significant investment in winning High Net Worth Asian clients over the last decade, and after several years of scepticism there is now fresh evidence that the investment is yielding results. Read ››

China’s financial system remains healthy

201 reads

Spanish bank expects non-performing loans to rise gradually, however. Banco Bilbao Vizcaya Argentaria, SA, Spain’s second largest bank, said that despite rising risks from lending in the real estate sector and the growth of shadow banking, China’s overall financial system remains healthy. Read ››

BPI launches agriculture loan program

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It has a US$441m agriculture portfolio. The Philippines’ second largest bank is increasing its involvement in agriculture with the launch of BPI Agribusiness Solutions in Davao City in the island of Mindanao. Read ››

BOC finally sold to CIMB for US$279m

201 reads

58% of BOC is now CIMB-owned. San Miguel Corporation has finalized a deal with Malaysia's CIMB Group Holdings Bhd on the sale of a majority stake in Bank of Commerce. Read ››

ICICI Bank launches “HiSave”

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Pays market-leading rate to selected savers. The "HiSave" fixed-rate accounts consist of a two-year fixed-rate bond paying 2.3%; a three-year bond paying 2.55% and a five-year version paying 2.75%. Read ››

M&A binge predicted for Philippine banks

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Will be led by mid-sized commercial banks. The Bangko Sentral ng Pilipinas expects a rise in mergers and acquisitions in the banking industry, especially for mid-sized commercial banks as ASEAN prepares for a closer banking network relationships. Read ››

Check out how rising interest rates will affect Hong Kong banks' profits

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Hang Seng and HSBC will benefit the most. Barclays Reserach finds that the earnings of Hang Seng Bank and HSBC would benefit the most from rising interest rates. Read ››

Do you know how much Singapore banks’ CEOs are paid?

955 reads

The youngest CEO is the highest paid. Asian Banking and Finance compiled the published annual reports for 2012 of Singapore's largest banks – DBS, UOB, and OCBC – to give you an idea of how much they’re getting every year. Read ››

Take an exclusive peek inside UOB’s new wealth banking centre in Jurong Lake District, Singapore

550 reads

It has an area of 6,266 square feet. Read ››

China to introduce deposit insurance system

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Will lay the basis for interest rate liberalization in banking sector. Read ››

India gives new banks more time to set up

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Adds six months to start-up time. The Reserve Bank of India, the central bank, added six months to meet a demand from potential applicants for banking licenses. Read ››

Maybank names Mohamed Rafique Merican officer-in-charge pending appointment of new CEO

122 reads

Maybank announced that Encik Mohamed Rafique Merican Mohd Wahiduddin Merican has been appointed as Officer-in-Charge of the Bank effective 5 June 2013. Read ››

Singapore banks' loan growth slows down after blistering 1Q13

123 reads

April statistics reveal momentum is moderating. According to Barclays Research, the MAS April monetary statistics showed slowing loan growth momentum after a strong 1Q13, while the system loan to deposit ratio rose to 99%, another record high since 1999. Read ››

India issues clarifications on new bank licenses

100 reads

Norms seem to favor large corporations, however. Analysts said the clarifications issued by the Reserve Bank of India, the central bank, on new bank license norms this week leave lesser room for regulatory discretion and disputes and will be an incentive to very serious players to finally seek licenses. Read ››

Taiwan identifies top state-owned banks

148 reads

First Commercial Bank is ranked first. The Financial Supervisory Commission said First Commercial Bank was the best performer among eight state-run banks over the past two years. Read ››

New law allows 60% ownership in Philippine rural banks

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President Benigno Simeon Aquino signs Republic Act 1057 into law. Read ››

Vietnamese commercial banks to provide housing loans

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Loans to begin June 1. The State Bank of Vietnam, the banking regulator, said five commercial banks are prepared to supply home loans for their customers. Read ››

Citi focuses on rich Filipinos

191 reads

Says wealth management services becoming more popular. Some 7 out of 10 respondents to the Citi Financial Quotient Survey expressed preference for global and regional banks. Read ››

New rules dampen demand for WMPs

111 reads

These also threaten banks’ profits, however. Rules seeking to cut risks in China's financial services industry have diminished the appeal of wealth management products, which are high-yield alternatives to bank deposits. Read ››

Moody's reaffirms OCBC Aa1 rating with a stable outlook

131 reads

Rating reflects OCBC’s strong capital position. Moody’s Investor Services has assigned a baseline credit assessment (BCA) of aa3 to Overseas-Chinese Banking Corporation Ltd. Read ››

CCB buys stake in 2nd biggest Russian bank

250 reads

China Construction Bank among buyers of a 55% stake in VTB Bank. Read ››

AgBank VP fired for taking huge bribes

187 reads

Yang Kun is highest-ranking bank executive to be investigated for corruption. Read ››

Forced sale of NPLs to AMC will push through

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Vietnam will compel banks to sell bad debt to new Asset Management Company. Read ››

Bank’s access to SDAs curbed by Philippine government

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Total cuts now more than 200 basis points since July 2012. Read ››

Here's how China banks fared in 1Q13

284 reads

Gap between big banks and JSBs narrowed. According to Barclays, the gap between big banks (BBs) and joint stock banks (JSBs) has narrowed – JSBs’ average profit growth decelerated to 13% y/y (vs 32% for 1Q12), barely in line with the BB’s average of 11% y/y (vs 15% for % 1Q12). Read ››

Fitch affirms ratings of four top Philippine banks

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Gives them a stable rating. Fitch Ratings affirmed the ratings of Banco de Oro Unibank Inc., Bank of the Philippine Islands, Development Bank of the Philippines and Land Bank of the Philippines. Read ››

What you need to know about the new HSBC Wealth Dashboard

613 reads

Cash, investment holdings displayed in real-time. HSBC recently launched the Wealth Dashboard, its enhanced Personal Internet Banking platform that consolidates each customer's entire wealth holdings – including cash deposits and investments – onto one single screen online, saving the time and effort to click on different accounts. Read ››

Aussie banks' earnings feared to slow in 2014

148 reads

Operating environment is likely to deteriorate. According to Fitch Ratings, aA build-up of domestic headwinds for Australian banks is likely to slow down their earnings growth slightly. Read ››

5 signs that ICBC will outperform in 2013

136 reads

It has defensive profitability and pricing power. According to Barclays, the first sign is that ICBC is demonstrating strong defensive profitability and pricing power. Read ››

CIMB intent on buying Philippine bank

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CIMB's acquiring a 60% stake in Bank of Commerce. CIMB Group Holdings Bhd said negotiations to take over Bank of Commerce are in the final stages and a decision should be made within a month. Read ››

Here's how Commonwealth Bank's business segments fared in 1Q13

134 reads

Guess which funds grew by 4%? Below is CBA's business commentary: Australia – Retail System home loan credit growth remained modest through the March quarter, with the Group growing slightly ahead of system. Read ››

Chinese banks should do more online business

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Ernst & Young also recommends they develop their intermediary business. Read ››

2 key negative catalysts for China banks

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Barclays believes these are well flagged. Following better-than-expected 1Q13 results, Barclays raised its earnings forecasts by 4.5%/3.6% for 2013/14 and increased its price targets by an average of 2%, leaving 11% potential upside for the sector. Read ››

Commonwealth Bank reports unaudited cash earnings of ~$1.9b in 1Q13

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Group liquids were at $130b. The Commonwealth Bank advised that its unaudited cash earnings for the three months ended 31 March 2013 (“the quarter”) were approximately $1.9 billion. Read ››

Fearless forecast: China banks' net profits and growth rates till 2015

169 reads

A single-digit growth looms for 2015. Barclays expects the banks could still record low-double-digit net profit growth of 10% y/y in 2014E, but the analyst also expects only single-digit growth in 2015.  Read ››

Philippine banking system deposits rise 10.7%

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Government says it highlights ability of banks to provide credit to the economy. Read ››