In Focus
StanChart to close 43 Korea branches amidst strike
StanChart to close 43 Korea branches amidst strike
Nearly half of the lenders’ 6,500 employees here had a walkout to protest against a proposed incentive-based compensation system.
Bank of China plans global expansion
Bank of China will continue to expand its overseas network despite becoming much more reliant on the domestic market in recent years. "By 2020, we expect to become a truly world-class bank," a China Daily report quoted BOC president Li Lihui as saying. The priority of setting up new overseas branches will be Asia in the next half year, Li told the newspaper.
Philippines’ central bank approves banks to open 100 new branches
The ruling will enable lenders cater to financial needs of booming business activities in the country especially in rural areas.
Singapore Banks may have to make less risky loans to meet new capital requirements
But analysts breathe a sigh of relief that new capital levels not too tight.
Singapore’s big 3: New capital rules no big deal
Robust capital and financial standing of DBS, OCBC and UOB make them easy to comply with the new MAS ruling.
China and India bank applies for licenses in Australia
AgBank, BoCom, Bank of Baroda, and Union Bank of India among the ten international banks to exploit Australia’s booming mining and resources industry.
India’s public sector banks target increased African presence
Yet bankers doubt India’s capacity for a large exposure in fundings for mergers and acquisitions which is enjoyed by global banks.
China regulator lays down policies to aid SMEs
CBRC measure to help small businesses in some coastal areas whose condition at present is worse than during the peak of 2008 global financial crisis.
China to overtake US as biggest banking economy by 2023—PwC
Experts expect domestic banking assets to exceed US$30 trillion by 2030.
Chinese banks expanding Hong Kong renminbi deposit base
Lenders establishing renminbi deposit pools to make way for renminbi-denominated businesses such as trade finance and lending.
India public sector banks to employ over 400,000
Hiring spree is prompted by the fact that a large chunk of 1mn PSB employees will retire in the next two years.
HSBC eyes to extend renminbi products to Australia
The lender’s introduction of new products to Australia to hedge their currency risk in doing business with China, a major consumer of Australian mineral and energy resources.
China banks to raise $12.34bn bonds in Hong Kong
Bank of China and BoCom mull to issue up to $30.84bn in bonds despite market doubts that Hong Kong can accommodate such a massive fundraising.
Indonesia banks step up launch of microlending units
Lenders keen on seizing opportunity to expand market and boost profit by tapping the less affluent.
StanChart may exit from South Korea
While the lender’s growth lags rivals following focus as it shifts to retail lending, it says remains committed to South Korea.
South Korea banks to put up debt clearer
Seven lenders with huge outstanding loans will furnish the capital to establish the debt clearer with $1.12bn capital.
ANZ expands Asia presence via deal with China Eximbank
The pact enables ANZ to provide China Eximbank with finance facilities, offshore yuan bonds and other resources.
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