News
BOC launches yuan CDs in Macao
Bank of China’s Macao branch started sales of one billion yuan worth of yuan certificate of deposits. These are the the first yuan CD issued in Macao. The first phase of CNY 500 million or US$75.9 million worth of CD has durations of two years and three years, with annual interest rates of 2.38 percent and 2.58 percent, respectively. The minimum purchase amount was CNY 200,000 or US$30.38 thousand.
BOC launches yuan CDs in Macao
Bank of China’s Macao branch started sales of one billion yuan worth of yuan certificate of deposits. These are the the first yuan CD issued in Macao. The first phase of CNY 500 million or US$75.9 million worth of CD has durations of two years and three years, with annual interest rates of 2.38 percent and 2.58 percent, respectively. The minimum purchase amount was CNY 200,000 or US$30.38 thousand.
NPL ratio Of Chinese commercial banks hit 1.14%
The non-performing loan ratio of commercial banks in China was 1.14 percent at end 2010. The NPL balance is US$65.2 billion, according to a Reuters report. The provision coverage ratio of commercial banks rose to 218.3 percent as of end 2010, up by 63 percentage points from the beginning of the year. The amount of subprime loans increased by US$440.5 million at end 2010 from the end of September. The balances of doubtful loans and bad loans decreased by US$1.18 billion and US$185.3 million respectively at end 2010 from the end of September.
StanChart set to acquire GE Money Singapore
The move is part of the GE’s plan to sell its noncore assets following the financial crisis.
ICBC to take over Bank of East Asia US unit
The first China acquisition of U.S. retail bank is a strategic move for ICBC to further its global expansion
Taiwanese financial holding companies to raise salaries
Companies to hike pay to up to 10% to employees who performed well.
National Australia Bank confronts $450mn class suit
The bank waits to see a statement of claim in the matter while it will vigorously defend the case.
Public Bank's pre-tax profit up 23%
The Public Bank Group recorded a pre-tax profit of US$1.34 billion for 2010. The figure represents a 23 per cent growth from 2009. The Group also recorded a net profit of US$999 million in 2010, 21 per cent higher as compared to US$825 million achieved in 2009.
Metrobank eyes 20 China branches in 5 years
The Philippine's Metrobank plans to have 20 branches in China within five years.
Bank Of Nanjing forecasts 50% 2010 net increase
Bank of Nanjing forecasts that 2010 net profit attributable to shareholders may grow 50 percent year-on-year.
Bangkok Bank reports 2010 net of $808M
Bangkok Bank and its subsidiary companies have reported a net profit of US$808 million for 2010, 19.9 percent higher than in 2009.
Siam Commercial fourth quarter profit up 26%
Thailand economic growth seen to boost the bank's loan demand in 2011.
China's "Big 4" to lend $110B in Q1
Chinese regulators have ordered the nation's four biggest banks to cap their combined new loans in the first quarter at US$110 billion.
BoCom to raise $758mn for renminbi investment fund
The bank’s BoCom International Holdings (Shanghai) Co. will manage the fund that will further diversify its business.
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