News
Korean banks burdened by malpractices
The banking sector suffered the most among financial firms on account of irregularities caused by employees, reports Yonhap News.
Korean banks burdened by malpractices
The banking sector suffered the most among financial firms on account of irregularities caused by employees, reports Yonhap News.
Fitch gives Mega ICBC an A-
The bank’s earnings are expected to remain robust until 2012, underpinned by a gradual widening of net interest margins.
World's biggest banks brace for asset reductions and job cuts
UBS, Deutsche Bank, Barclays, and Credit Suisse feel the heat of slashing costs.
Citigroup to pay $285m penalty for misleading investors
This is the third-biggest fine for such conduct and SEC’s latest action against banks.
Al Rajhi Bank opens in Sabah as development corridor takes off
The opening of an Al Rajhi Bank Malaysia in Sabah is deemed timely as it coincides with the taking off of the Sabah Development Corridor, introduced over three years ago.
AsiaPac banks gear up for Basel III
Standard & Poor’s says most Asian banks won’t find it difficult to comply with Basel III’s new capital requirements.
Commonwealth Bank to acquire 5% stake in Vietnam International Bank for $55m
This will increase Commonwealth’s stake to 20%, the maximum allowed for a foreign investor.
Morgan Stanley raises investment banking compensation to $5.74b
Morgan Stanley still increased its compensation by 8% despite the division's poor performance.
OCBC's subsidiary to acquire 5 companies from PacificMas Berhad
OCBC Capital Malaysia expects to acquire the target companies for a total amount of about RM450 million.
BoCom gets go signal to sell $4bn subordinated bonds
The lender kicked off the capital structure improvement process with a $3.9bn sale in July 2009.
China Merchants Bank secures regulator’s approval for CNY35bn rights issue
But the application process with the China Securities Regulatory Commission and the HKEx is still ongoing.
Hang Seng Bank joins Dow Jones Sustainability Asia Pacific Index
The lender is the first in Hong Kong to be recognized by the Global Reporting Initiative standards.
Bank Mandiri and Rintis Sejahtera join ATM PRIMA Network
The agreement to increase transactions through Bank Mandiri’s electronic network while improving transaction efficiency.
Philippine banks petitions to halt 20% bond tax enforcement
8 banks seek the country’s Supreme Court mandate to stop imposing the tax.
Bank Mandiri sees 27% loan growth by yearend
The lender sees growth to beat the initial 22% estimate.
ANZ targets tenfold surge in opulent clients in Vietnam
The lender to tap more than 10,000 high-end professionals, or entrepreneurs who have built up their business in Vietnam.
Forex reserve growth of China slows down
Decreased growth said to show the depth of unease created by debt fears in Europe and the weak U.S. economy.
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