News

The Industrial and Commercial Bank of China has received US government approval to take over an American bank.

The chairman of the troubled Export and Industry Bank wants to sell all the banks assets and liabilities to Banco De Oro Unibank Inc.

Sacombank may sell shares to foreign investors up to 15 percent of it chartered capital.

The draft plan to merge Hanoi Building Commercial Bank into Saigon-Hanoi Commercial Bank has been approved by shareholders of both banks.

The dire need to strengthen its banking industry is not lost on India.

United Overseas Bank Ltd posted 12 percent rise in quarterly profit due to higher loan margins and fees.

Bank Islam Malaysia is still keen on buying a stake in a Islamic financial institution in Indonesia although no decision has been made on potential Indonesian acquisitions.

Cathay Financial reported a first-quarter net profit of NT$1.97 billion or US$67 million, and earnings per share of NT$0.19.

Bidders interested in acquiring a majority stake in government-owned Woori Finance Holdings have until July 27 to do so.

CIMB Group Holdings Bhd., the largest company on Bursa Malaysia, has taken control of Bank of Commerce, an affiliate of San Miguel Corporation.

Philippine National Bank has raised US$82.8 million to finance asset growth and to allow it to maintain a strong capital base.

Union Bank reported an operating profit on ordinary activities before tax of Rs. 158.6 million.

Prosecutors have raided four savings banks to investigate alleged irregularities that led to their suspension a day earlier.

HSBC’s push to become the largest international renminbi bank also targets the Philippines.

Bank of Baroda hopes to achieve a net interest margin in the range of 3.41-3.61 percent in the current financial year.

Vijaya Bank will focus more  on increasing its low-cost deposit base as it aims a 20 percent growth in overall business.