News

Cathay United Bank, Mega International Commercial Bank, and Mega Financial Holding Co. forge cooperation in corporate lending, bancassurance, retail banking and personnel training with AgBank.

The FSC to ease current rules that require a financial holding company to bid for at least 95% of a target holding company to combine their businesses.

Liquidity crunch and loan recovery will hamper Nepali financial inastitutions beginning next month. Vibor Development Bank and People's Finance went into serious liquidity crunch. However, this is not the first instance of liquidity crunch in the country. Experts said the liquidity crisis was a result of quick profit motive rather than going for much reliable investments. Radhesh Pant, Chief Executive Officer of Kumari Bank in Nepal said that the situation had arrived mainly because of two reasons -- the political instability and lack of proper monitoring over the financial institutions. "The political instability causes an impasse at the policy making level, which discourages investment. And also, there are too many players in the banking sector right now and a proper monitoring system is lacking," according to Pant. "We have 28 commercial banks, we have 60-65 development banks, more than 70 financial institutions," Pant said. "The government and the political parties should focus on the economy of the country while fixing their priorities for the next 5-10 years on how to develop Nepal. For instance, a focus on hydropower with strong strategy, which is bought in by all the parties so that in future, even when the government's changes, same objectives, and strategies are worked on," Pant said. Likewise, he also said that the the other basic reason behind the crunch was the decelerating growth in the remittances. The bankers and financial institutions have also blamed the government for its failure to promulgate the national budget on time and its lack of spending ability. The full story is available at xinhuanet.

Morgan Stanley Huaxin Securities’ main thrust is underwriting CNY-denominated stocks and bonds for Chinese small-cap companies.

The German lender said its government bond trading and other business activities in Thailand remain unaffected.

Hana to take over stake from Lone Star and possibly from the Export-Import Bank of Korea.

Confident of better second quarter after strong $92 mn first quarter profit as it sticks to loan target.

KienLongBank approved the 2011 year plan with targeted pre-tax profit of 405-506 billion dong, and dividend payment of 8-10 percent.

VietinBank launched programmes in line with the socio-economic development orientation of the government and the State Bank of Vietnam  to support agriculture, rural development and export activities, the bank's representative said.

Maybank will only proceed with the purchase if it adds to earnings to be used to compete with Chinese banks’ entrance in Malaysia.

The lender gets nod from shareholders to invest $100mn to set up a commercial bank unit in Sao Paulo.

RHB Bank has launched the e-Dividend service through its Reflex Online Cash Management for corporate clients.

25 more rate hikes are expected in the coming months.

4,987 officers would be recruited for associate banks of the lender.

The lender secured government backing on the capital raising activity following posting of one of the lender’s lowest Q4 profit last month.

Analysts doubt on the lender’s ability to maintain its profit growth momentum, after the bank revealed a spike in mortgage arrears.