China

The People's Bank of China stopped draining liquidity from banks through its open market operations this week.

Mainland branches of six Taiwanese banks gained profits of 30.47 million yuan or US$4.84 million, said Liu Mingkang, chairman of the China Banking Regulatory Commission.

China Everbright Bank's profit jumped 40.65 percent year on year to  14.15 billion yuan or 2.23 billion U.S. dollars for the first three quarters of the year. The bank attributed the profit growth to an increase in net interest income, which rose 30.68 percent year on year to 28.98 billion yuan in the nine-month period, according to its regulatory filing at the Shanghai Exchange, reports Xinhua.

The Export-Import Bank of China opened its 19th branch in China at Urumqi, capital city of northwestern Xinjiang Uygur Autonomous Region, according to Xinhua News.

The figure fell short of analysts’ $ 7.72bn forecast.

Earnings per share stood at 1.32 yuan In the same period.

Profit met the 11.9 billion-yuan median analysts’ estimate.

Yet profit is below expected $4.91bn while AgBank’s $5.36bn profit is above the expected $5.33bn.

Industrial & Commercial Bank of China’s net income surged 28% to 54.4 billion yuan.

All services in all outlets under ICBC Beijing are now monitored in real-time.

Four Taiwanese banks will be allowed by China to open branches in the country to boost financial cooperation, according to the China Banking Regulatory Commission.

BoC’s profit didn’t meet the 31.6 billion- yuan median estimate of eight analysts surveyed by Bloomberg News.

More central government moves to address local government debt issue, decline in inflation and resolution of the European debt crisis may boost growth.

RED SEGURA's kit converts any ATM into an NFC/RFID/QR ATM ready while maintaining support for legacy EMV and magnetic cards.

Shares of China’s biggest banks fell an average 23% this year.

Bank Mandiri expects to open a new branch in Shanghai later this year to boost its business and tap Indonesian corporations in China. It waited for almost five years for this. “We are now waiting for final approval from one of the regulators, the State Administration of Foreign Exchange in China,” said Haryanto Budiman, a senior executive vice president at Bank Mandiri. “The hope is that we can open the branch at the end of this year.” Haryanto said Bank Mandiri, Indonesia’s largest lender by assets, had to obtain a number of licenses from Chinese regulators. “China has a multi-license principle and there are numerous regulators in China,’’ he said, detailing the effort needed to secure a license. “It takes time, at least five years.” The China Banking Regulatory Commission granted Mandiri one of the necessary licenses in November last year. Mandiri will have to make a profit in consecutive years following the start of its operation in China, Haryanto said. “If we can make a profit for two straight years, then we will be allowed to use the Chinese yuan for transactions,’’ he said. Mandiri’s president director, Zulkifli Zaini, said in August that boosting lending in Indonesia and aggressively moving to tap markets would make the bank a regional player in the next two years. It hopes to be a top five bank in Southeast Asia by 2014 and top three by 2020. The full soptgry is available at Jakarta Globe.