In Focus

China's fifth largest lender by assets, has received government approval to complete a private share placement.

Thanks to the strong growth at CIMB Niaga and CIMB Singapore and outperformance at Corporate Banking and Treasury Markets.

Non-performing loan ratios were at or near all-time lows of 1% in the face of an extremely volatile market environment.

Total outstanding loans among Philippine banks grew 14.9 percent to P2.95 trillion at the end of the first semester.

Japan's biggest bank has suspended another London-based trader over the widening LIBOR interest-rate rigging scandal. Bank of Tokyo-Mitsubishi UFJ Ltd. said one trader has been told to be on stand-by at home but withheld further comment. The trader is a non-Japanese who worked for the bank in London. The bank had earlier suspended two other London-based traders because of their suspected involvement in the LIBOR rate-rigging scandal while working for Dutch lender Rabobank. The scandal saw Britain's Barclays PLC fined £290 million after admitting that it attempted to manipulate LIBOR and EURIBOR rates between 2005 and 2009. LIBOR, or the London Interbank Offered Rate, is a flagship instrument used as an interest rate benchmark throughout the world, while EURIBOR is the Eurozone equivalent.

Remarks by India’s finance minister fuel speculation that a reduction in interest rates could be forthcoming.

Singapore’s biggest bank by assets will push through with its planned US$7.3 billion acquisition of PT Bank Danamon Indonesia.

The Philippine central bank said a bill will be filed in the country’s Congress to reduce the clearing time for checks to just one day.

Maybank expects to keep its controlling stake in Bank Internasional Indonesia despite the recent change in bank ownership rules in Indonesia.

Indonesia’s bankers are the best paid in Asia while its banks are the most profitable in Southeast Asia.

Bank Mega doubled its net profit to US$96.35 million or Rp 909 billion in the first half of 2012 from Rp 431 billion last year.

The Philippines’ oldest and third largest bank by assets reported a 52% jump in net income during the first half.

The combined net income of South Korea’s banking system plunged 59% during the second quarter.

Nomura Holdings CEO Kenichi Watanabe resigned yesterday in an insider trading scandal that has again smeared the reputation of Japan's biggest investment bank.

Bank of China enters into a partnership with Switzerland’s largest private bank after surrendering its wealth management business.

Malaysia’s Bank Muamalat Malaysia Bhd and Bank of Shizuishan will open an Islamic bank in Ningxia Province within two years.