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QNB's Bank Kesawan acquisition concluded
QNB Group announced Thursday a conclusion of a rights issue process for its acquisition of Bank Kesawan shares. QNB now owns a controlling 65.59 percent stake in Kesawan.
QNB's Bank Kesawan acquisition concluded
QNB Group announced Thursday a conclusion of a rights issue process for its acquisition of Bank Kesawan shares. QNB now owns a controlling 65.59 percent stake in Kesawan.
DBS plans putting up India subsidiary
DBS India will go retail with savings bank account, as it awaits RBI's final guidelines on foreign banks.
Woori, Shinhan, Hana bid for Samwha Mutual Savings
Korea’s regulator suspended Samwha’s operations for six months, after it failed to meet capital requirement levels.
ICICI Bank targets 500 branch openings yearly for 2-3 years
The lender’s CEO is set to be honored by the Indian government with the Padam Bhushan to recognize his leadership skills.
Woori Bank raises $610mn Samurai bonds
The lender issued three tranches of yen denominated bonds maturing in one year, 18 months and two years.
Competition regulator chief wants ANZ chief's prosecution
Samuel alleged Smith had engaged in price signalling when the latter said ANZ might increase its interest rates over and above the level imposed by the Reserve Bank.
Hua Xia Bank forecasts 50% 2010 earnings growth
Hua Xia Bank forecasts its 2010 net profit will grow 50 percent year-on-year from US$570.9 million in 2009.
ICBC to buy 80% stake in BEA US branch
Industrial & Commercial Bank of China intends to spend $140 million to acquire an 80 percent stake in The Bank of East Asia's American branch.
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.
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