Malaysia

Maybank limits its collaboration with Bank Asya on trading and products but not in buying stakes.

Maybank expects to boost growth in trade finance business with China by 15 percent with renminbi trade services at regional offices.

Hang Seng’s strong capital position prompts HSBC to woo investors to take part in the former’s growth potential.     Body:  HSBC Bank Malaysia Berhad has introduced the 4-Year MYR Equity Linked (Hang Seng Bank Ltd) Structured Investment which provides customers the opportunity to invest in the potential growth of Hang Seng Bank Ltd, according to a report in the Bernama. A member of the HSBC Group, Hang Seng Bank was awarded the Best Retail Bank in Hong Kong by The Asian Banker. Hang Seng Bank's capital position remains strong with a Tier 1 ratio of 13.1 per cent (relative to the industry ratio of 8 per cent) and capital adequacy ratio of 16.6 per cent. As of June 2009, its mainland business contributed 11.7 per cent to Hang Seng Bank's pre-tax profit, a 2.3 per cent increase from first-half of 2008. HSBC said the investment is available from Oct 1 to Oct 15, 2009 and a minimum investment amount of RM250,000 is required to be placed as principal for a four-year tenure.

After garnering a huge success with their children’s savings program in Singapore, OCBC is eager to spread the word further in Malaysia, according to Asiaone.

CIMB Bank Bhd head of retail banking Peter England said the bank's new product aims to protect capital and ensures returns.

HLB personal financial services CEO Moey Tan was eying to surpass 6 percent to 8 percent average growth for the market.

DAP secretary-general Lim Guan Eng said Maybank's $225 million reporting discrepancy came from its devalued overseas investments.

CIMB-Principal launched a tax-efficient alternative to traditional deposits, which provides potentially higher returns and allows withdrawal anytime without penalty.

Maybank Chairman Tan Sri Mohamed Basir bin Ahmad will not seek reappointment at the forthcoming Annual General Meeting on 30 September and will retire. Maybank has obtained the approval of Bank Negara Malaysia to appoint Tan Sri Megat Zaharuddin Megat Mohd Nor as the new Chairman of Maybank effective 1 October 2009.

CIMB Group CEO Datuk Seri Nazir Tun Razak said the banks was now at "day one" with the brand change from Bumiputra Commerce complete for all 36,000 employees.

Badlisyah Abdul Ghani, CEO of CIMB Bank speaks to Bryan Camoens and Mirzan Mansoor about the bank’s strategies to circumvent the challenge of lack of information about Islamic finance.

Maybank appointed Mr. Sreesanthan Eliathamby, Dato’ Johan Ariffin, Mr Cheah Teik Seng and Mr Alister Maitland to its Board of Directors effective 26 August.

Alliance Financial Group recorded a quarter on quarter improvement of 21 percent with an operating profit of US$33.2 million for the second quarter. This is an increase of US$5.67 million or 21 percent from the last quarter ended 31 March 2009.

Ambank Group recorded a profit after tax and minority interests of $731.34 million for the first quarter of its financial year ending 31 March 2010, thanks to its Retail Banking business. This represents an increase of 27 percent over its previous corresponding quarter and annualised earnings per share of $.1074 and post-tax return on equity of 13.1 percent.

Hong Leong Bank partnered with the Industrial and Commercial Bank of China in Singapore to offer trade settlement services in Yuan. This is part of China’s plan to make yuan convertible.

Maybank Islamic launched a Shariah-compliant trade finance solution tailor-made for middle market and corporate customers involved with commodity-based products.