China

Shanghai-based Bank of Communications intends to offer the world’s largest share sale since May 2011.

Senior management of China's financial enterprises under the central government will have less discretion in running their firms.

Rising net interest incomes, commissions and lower operation costs pushed the earnings of Shanghai Pudong Development Bank up 42.28% year-on-year.

Its revenue also rose 21% to US$331.59m.

Chinese banks extended 710.7 billion yuan or $112.5 billion in new loans in February, well below market expectations of 750 billion yuan.

The Big Four Chinese banks ramp up lending in an effort to stave off a further weakening of the Chinese economy.

The official launch will be on March 11-14.

China begins to relent after two years of resorting to almost Draconian measures to cool down an overheated property market.

ICBC rolled out its "cardless cash advance" service that could be availed through mobile phones.

Chinese banks have begun offering preferential loan rates for first-home buyers.

Could it be that they are keeping their money elsewhere - perhaps in CNY accounts in Hong Kong?.

GRGBanking's H22N ATM was put online on February 2012.

HSBC Bank can now provide financial services and solutions to domestic-funded and foreign-funded businesses in Wuxi.

The Financial Times and other media outlets reported yesterday that the Chinese authorities plan to “instruct” banks to roll over their credits to local governments. If confirmed, such a move would both ease the debt burden on local governments and prevent a possible wave of defaults on bank balance sheets as these loans come due over the next 1-3 years (banks have been forbidden from rolling over or extending new loans to local governments). The policy would not be a complete surprise, as the CBRC hinted last October that a move of this kind was under consideration. According to such reports, banks may extend the maturity of their loans by up to four years. We estimate that outstanding local government debt amounts to RMB 14.7 trillion, of which one-fifth may come due this year (based on figures reported by the National Accounting Office), and the remainder through 2014.

Realsec certified the compliance of the EPP-002 model of GRGBanking with their Cryptosec Remote Key Loading (RKL) which based on cryptographic HSM last November.

HSBC made a $21.9 billion profit last year, the largest among western banks, as its strength in Asia helped it cope with a euro zone debt crisis.