News

The lender plans to buy one to two additional savings banks to tap microcredit finance business.

The Korean lender offered 2.5mn shares in KB Financial to Sumitomo at $50.53 per share.

The lender to find replacement of Michael Lor through talent search companies.

Japan quake, tsunami, and nuclear crisis has negative implications on heavy-equipment manufacturers.

ACB adjusted the dong demand saving rate for its online savings with a highest level of up to 9.6 per cent per year.

Agrobank hopes to raise US$66 million in deposits through a six-month campaign beginning May.

The State Bank of Vietnam approved the applications for additional capital increase of nearly $470 million by Sumitomo Mitsui Bank's HCM City and Hanoi branches.

The service allows customers to locate the nearest branch of Alliance bank through the computer or through mobile phones.

The recruitment would bolster the lender, whose total business more than doubled in the last 3 years.

The delay is caused by the failure of approval from the federal government, which owns about 59 percent of the bank.

The bank to tap Vietnam’s high growth potential in terms of financial services as 15% of its population has bank account.

BOC achieved profit after tax of US$16.7 billion, a year-on-year growth of 28.52 per cent.

By end of 2010, ABC's SME customers reached 63,485 and small-sized enterprises were 39,965, with an increase of 2,076 and 2,338 respectively compared with the beginning of 2010.

The ICBC Bill Department registered a transaction turnover of more than US$132.5 billion and US$158 million in profit.

Japan's devastating natural disaster will keep the economy mired in deflation in coming months.

Banks in Bangladesh were advised to take steps for enhancing the remittance inflow due to the Middle-East turmoil. The call came from the Bangladesh Bank Governor Dr. Atiur Rahman during a workshop for finding ways of increasing the receipt of remittance. The government has taken many initiatives to increase remittance legally over the last two decades. Recently, the government has introduced modern system to reach remittances to remote areas of Bangladesh, BB chief said. Meanwhile, automatic cheque-clearing system has been opened in the country and initiative is underway to introduce electronic money transfer to ease banking system. “If the step come into action, a huge number of people across the country will come under the banking network,” the governor told the meet.  Dr Atiur observed that the Middle-East crisis compelled Bangladeshi workers to return home and that might affect the national economy for a long time. “But Bangladesh Bank is conscious about the matter. It is being considered whether something could be done for those who have returned home.” He said the government is taking steps to net increased remittances from other countries.