Malaysia

Communities around Petaling Street are getting richer, and Hong Leong Bank intends to corner this market.

Seriously. And for a bit more you can buy names, credit card details and even handphone numbers of senior business people, all stolen by bank employees and sold on the black market.

Maybank became one of the best capitalised banks in Asia following the successful completion of its rights issue exercise on shares of Bursa Malaysia.

Malaysia is set to overtake Singapore with the granting of an additional five licences to foreign banks by 2012 bringing the total to 18 compared to Singapore’s six Qualifying Full Banks.

Goldman Sachs Islamic Bank, anyone? It may seem the most unlikely of partners, but new banking liberalisation laws in Malaysia will let foreigners own up to 70 percent of an Islamic bank, up from 49 percent.

It may seem the most unlikely of partners, but new banking liberalisation laws in Malaysia will let foreigners own up to 70 percent of an Islamic bank, up from 49 percent. Goldman Sachs Islamic Bank, anyone?

The Employees Provident Fund has raised its stake in local banking stocks Alliance Financial Group Bhd, AMMB Holdings Bhd, Bumiputra-Commerce Holdings Bhd (BCHB), EON Capital Bhd, Malayan Banking Bhd, Public Bank Bhd and RHB Capital Bhd.

Affin Bank, Alliance Bank Malaysia and OCBC Bank have beefed up its risk management systems.

Bank Rakyat is prepared to extend the loan repayment period of borrowers who have been retrenched. The bank's objective is to ease borrowers' financial burden in these difficult times, but borrowers who have been laid off must make a written appeal, said Managing Director Datuk Kamarulzaman Che Mat.

HSBC Amanah Malaysia Berhad opened its third branch in Ampang Point, Selangor. The opening was officiated by Irene Dorner, Chairman of HSBC Amanah Malaysia, and Musa Abdul Malek, Chief Executive Officer of HSBC Amanah Malaysia.

Public Bank and ING launched separate insurance plans for females and children.

CIMB created a strategic link to China with its acquisition of 19.99 percent stake in Bank of Yingkou.

Public Bank reported a loan growth of US$1.4 billion to reach US$38.8 billion as at the end of March 2009. The growth, pegged at 4 percent, is much higher than the banking industry’s loan growth rate of 0.4 percent for the first two months of 2009.

United Overseas Bank (Malaysia) Bhd has introduced the new UOB eAccount, an online savings account aimed to provide banking convenience to customers.

Public Bank has launched the PB Lifestyle (Phase II) - Live Up Your Life with PB Cards campaign, after receiving positive response for its More Swipes, More Rewards campaign or PB Lifestyle (Phase I).

The RHB Banking Group (RHB) has launched its enhanced customer contact centre that features IT services and solutions from Hewlett-Packard (HP).