China

Located in the GRG industry park, Guangzhou, China, Joint Development Laboratory was unveiled by GRG Banking and Microsoft.

Chinese banks are seen to accelerate overseas expansion by boosting marketing strategies and providing services and financial instruments for high-end customers.

The lender has achieved the 75% of loan-to-deposit ratio required by the Chinese regulator.

The currency has become more attractive since China ended a two-year peg to the dollar and investors bet on further gains.

Chinese insurers cannot bid while foreign companies can bid for no more than a 20% stake.

The lender considers joining leading Chinese banks that have built presence in trust business by merging local trust companies.

The Indonesian bank to exploit growing business potential between Indonesia and China.

Moody's has assigned XacBank  a D- Bank Financial Strength Rating. The Mongolia-based bank also received a Ba3/NP for long- and short-term local currency deposit ratings; a B2 /NP for long- and short-term foreign currency deposit ratings; and a Ba3/NP for long-term local and foreign currency issuer ratings

Beijing supplied 12.63 million square meters of land for security housing projects and 1.64 million square meters for low-income housing.

The move enables Xinjiang companies to use renminbi to engage in business abroad, while allowing foreign companies make renminbi investment into Xinjiang companies.

ANZ invested another US$124.9 million in BoT to support the latter's strategic growth agenda.

Central Huijin to participate in ICBC’s move to replenish capital following successful attempts of the bank’s rivals.

Moody's upgraded the long-term ratings of three big policy banks in China to Aa3 from A1. The three banks are China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China. China Development Bank’s  long-term foreign currency senior unsecured debt rating was upgraded to Aa3 from A1. While Export-Import Bank of China’s long-term domestic and foreign currency senior unsecured debt ratings was upgraded to Aa3 from A1. On the other hand, Agricultural Development Bank of China’s long-term foreign currency was also issuer rating upgraded to Aa3 from A1. The action follows Moody's decision to upgrade China's long-term foreign currency sovereign rating to Aa3 with a positive outlook from A1. The banks' baseline credit assessments are also changed to 4 from 5, on a scale of 1 to 21, where 1 represents lowest credit risk. The action reflects Moody's view that the banks will continue to receive full support from the government as 100 per cent state-owned banks. Although the government has begun to initiate reforms to operate the banks more based on commercial interest, state ownership in these entities is not expected to change during Moody's rating horizon.  

BOC recorded a profit after tax of US$12.48 billion in the first three quarters of 2010, an increase of 27.48 per cent compared with the same period of 2009. The Bank of China achieved profit attributable to equity holders of US$11.9 billion, an increase of 27.70 per cent compared with the same period of 2009. As at 30 September 2010, The Bank's total assets amounted to US$1.52 trillion, an increase of 15.43 per cent compared with the prior year-end, exceeding US$1.5 trillion for the first time.

The lender is also looking at potential acquisitions in Europe and the Middle East aside from setting up branches.

The lender unseated ICBC behind Central Huijin’s unlocking of shares and its plan for a $9.2bln rights issue.