Hong Kong
S&P affirms Dah Sing's profitability rating
Standard & Poor's affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Dah Sing Bank. The outlook on the long-term rating is negative. S&P also affirmed the issue ratings on the issues under DSB's medium-term note program. All the ratings were removed from CreditWatch, where they had been placed with negative implications on 24 July 2009. At the same time, it affirmed the 'C+' bank fundamental strength rating on DSB.
S&P affirms Dah Sing's profitability rating
Standard & Poor's affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Dah Sing Bank. The outlook on the long-term rating is negative. S&P also affirmed the issue ratings on the issues under DSB's medium-term note program. All the ratings were removed from CreditWatch, where they had been placed with negative implications on 24 July 2009. At the same time, it affirmed the 'C+' bank fundamental strength rating on DSB.
Chinese regulator's move stales Minsheng's IPO
Minsheng shares dipped 3 percent during IPO as Beijing reportedly pressured banks to increase capital adequacy ratio.
HSBC launches new SME loan offer
Successful SpGS loan applicants can avail themselves of rates as low as P-2 percent for up to US$1.548 million loan. The Hong Kong Special Administrative Government extended the Special SME Loan Guarantee Scheme and the HSBC will provide a new preferential offer to its commercial banking customers under the scheme.
Liang appointed Fubon Managing Director and CEO
Mr. Pei-Hwa Thomas Liang succeeded Mr. Jin-Yi Lee as Managing Director and Chief Executive Officer of Fubon Bank. This was announced by the bank’s board of directors.
Uncertainty prompts BEA to support SpGS extension
BEA welcomes the HKSAR Government’s six month extension of the application period for the Special Loan Guarantee Scheme. It will be extended up 30 June 2010. The HKSAR Government's total loan guarantee commitment under the SpGS will remain at HK$100 billion or US$12.8 billion.
Minsheng Bank targets $4 bln sale after HK IPO
Improved banking conditions spurred Minsheng to offer 3.32 billion shares in its Hong Kong IPO.
CCB Asia renamed after acquiring AIG Finance HK
The deal beefs up China Construction Bank's customer base and services for small and medium enterprises.
No layoffs in Hong Kong vows HSBC
HSBC's Asian operations expand as it fired 1,700 employees in Britain due to stale European economy.
Morgan Stanley resells stake in China Investment Capital
Morgan Stanley's possible $1 billion deal will remove hindrance in expanding its presence in mainland China.
Fubon customers to enjoy China Life products
A series of China Life Insurance will be made available to Taiwanese and Hong Kong customers of Fubon Bank through its 22 branches in Hong Kong. A "Memorandum of Insurance Business Cooperation" has been agreed upon by the two entities.
HSBC sees new opportunities in China under CEPA 6
HSBC might expand in Guangdong after the China Banking Regulatory Commission readies for processing Hong Kong banks' applications to open sub-branches.
New measures spark BEA's Guangdong expansion
BEA will apply for “cross-location” sub-branches in Guangdong province under the new liberalisation measures of the Supplement VI to CEPA.
Deutsche Bank’s David Murray, Tim Andrew to head equities in Standard Chartered
Standard Chartered is banking on the two latest additions to its team to grow its Asian business.
HSBC: Failed in America, try Hong Kong (again)
After its painful foray into the American subprime market, HSBC is now re-focusing on Hong Kong in emerging markets.
HSBC appoints new SAR CEO
In HSBC's plan to develop more business in Hong Kong Mark McCombe was assigned to take over as region's CEO.
HSBC product boosts environment-friendly projects
HSBC encourages customers to undertake capital investment in projects that have a positive environmental impact with its Green Financing product.
HSBC RMB trade leads to RMB bond purchase
A Hong Kong businessman bought RMB-denominated bonds out of the renminbi equivalent of US$2.19 million he received via the renminbi trade.
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