India

The German development finance institution DEG has provided a loan of US$ 30 million repayable over eight years to DFCC Bank, Sri Lanka’s pioneer development bank.

The lender believes the move will make it uncompetitive.

Union Bank KBC has also launched a series of investor awareness programmes for mutual fund investors.

The lender doubled also extended 25 bps concessional home loans up to December.

The tie-up to cover securities activities such as equity and debt capital markets services, advisory services, private equity transactions, and wealth management.

The lender keen to execute the plan in a cautious and calibrated way despite plunge in profit.

Despite series of diminished profit in the previous quarters, the lender hopes to get $519.92mn second quarter profit.

The booming bilateral trade between India and Australia opens door to the lender’s entry in Sydney.

Indian government seen to allow foreign insurers to raise their stakes.

DBS expects RBI to raise policy rates to 8.5% by December 2011.

The bank is exploring fund-raising opportunities in currencies like the Swiss franc and the Japanese yen.

Though the IDR issue fell below expectations, it worked out perfectly well for the bank.

‘Swift’ enables the lender to cut loan processing to 24 hours.

Aside from expanding, the bank continues to evolve by bringing in new technology products.

The lender adds branches as its business grew 20%.

The RBI will likely pause after a final 25bp hike in policy rates on September 16 and cut 75bp from April onward.