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BNP Paribas inks deal to raise stake in OCB
BNP Paribas inked an agreement to raise its stake in Orient Commercial Bank from 15% to 20% after obtaining approval from the central bank. The French bank will acquire 27 million shares issued by OCB to increase its chartered capital from VND2.73 trillion to VND3 trillion. BNP Paribas has been the strategic foreign investor of OCB since 2007. The two banks now have strengthened cooperation in the area of trade finance, helping OCB to link with trade centers of BNP Paribas in 80 countries worldwide.
BNP Paribas inks deal to raise stake in OCB
BNP Paribas inked an agreement to raise its stake in Orient Commercial Bank from 15% to 20% after obtaining approval from the central bank. The French bank will acquire 27 million shares issued by OCB to increase its chartered capital from VND2.73 trillion to VND3 trillion. BNP Paribas has been the strategic foreign investor of OCB since 2007. The two banks now have strengthened cooperation in the area of trade finance, helping OCB to link with trade centers of BNP Paribas in 80 countries worldwide.
Banco de Oro starts offering China UnionPay services
GFG Group enables the lender to harness China UnionPay transactions using its Cadencie platform.
Bank of Baroda to put up 12 branches abroad
The bank’s branch expansion plan will focus on 4 East African countries.
Indonesia to limit bank ownership
Indonesian central bank will cut ownership of individual investors on commercial banks so as to make banking sector more financially prudent.
ABBank posts VND300B pretax profit for first half
ABBank posted a pretax profit of VND 307.6 billion in the first six months, meeting 46.3% of the year target.
Eximbank, ADB ink US$2.5 B co-financing deal for infrastructure projects
The Export-Import Bank of Korea signed an MOU with the Asian Development Bank on financing the Asian region's infrastructure development projects that are to be undertaken by South Korean firms.
Muamalat allocates RM56M for branch renovations/relocation
Bank Muamalat Malaysia Bhd has allocated about RM56 million to renovate or relocate its 56 branches.
Hong Leong seeks M&A in emerging markets
The lender seeks growth opportunities abroad as banking competition increases in Malaysia.
DBS Bank targets to step up India presence
The lender to set up four branches immediately after India’s central bank gives nod to expansion plan.
Taiwanese financial companies post profit surge
Experts believe trend to continue amidst the possible signing of an insurance trade pact between Taiwan and China and Taiwan’s 2012 presidential elections.
CBA, UOB allowed to raise stakes in Vietnam's banks
Commonewealth Bank of Australian and Singapore's UOB can raise their staeks in two Vietanmese banks to the 20 % ceiling for foreign ownership according to Vietnam's central bank.
Hong Kong banks help provide elderly with financial options
Seven Hong Kong banks joined the Mortgage Corporation’s Reverse Mortgage Programme to help provide elderly with additional financial planning option.
Bangkok Bank launches financial innovation for petrochemical businesses
Bangkok Bank has signed an MOU, agreeing to provide a full range of financial services, called 'Smart Chaqin Solution", to PTTPM business partners.
Hana and Lone Star slash KEB deal price by 6%
But analysts say contract extension is enough to convince investors that the two companies can close the deal.
SBI aims to raise $5bln via overseas debt
The move to fund loans in India after the lender suffered dip in its Q4 net profit.
RHB still seeks for merger partner
RHB maintains interest in M&A even after Maybank and CIMB dropped the plan.
Kookmin Bank divests $1.7bln of its KB shares
The lender offered 35mn shares at a price range of $48.8-$49.2 to meet regulations.
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