News

Vietcombank will target a 6.5 trillion dong of pre-tax profit in 2012.

Shanghai Pudong Development Bank's 2011 preliminary net profit rose 42.02 percent year-on-year to 27.24 billion yuan. Revenues for the Shanghai-based lender jumped 35.38 percent from one year earlier to 67.5 billion yuan. Earnings per share increased to 1.46 yuan, according a statement filed to the Shanghai Stock Exchange. The bank's preliminary net profit beat market expectations, as the United Bank of Switzerland previously estimated the lender's profit at 25.39 billion yuan. Total assets rose to 2.69 trillion yuan at the end of 2011, up 22.77 percent from the end of 2010, while the non-performing loan ratio fell 0.07 percentage points to 0.44 percent, the statement said. For the source of this story. click here.

Banking services were still absent in 1,696 remote towns and townships at the end of 2011.

The China Banking Regulatory Commission has postponed the implementation of new criteria for commercial lenders to the second half of 2012. This is in response to current economic conditions and looser monetary policies, said an official, reports Xinhua News.

Saigon Commercial Bank, the first merged bank to be formed under the State Bank of Vietnam’s plan to restructure the banking system, officially became operational.

The IMF is conducting is gauging the vulnerability of Japanese banks to a potential drop in the value of their huge holdings of Japanese government bonds.

ANZ will sell its 9.6 per cent stake in Sacombank to another Vietnamese lender, Eximbank.

Indonesia's commercial banks were told to cut interest rates on loans to less than 10 percent to fuel economic growth.

A recently passed bill will allow non-Filipinos to buy and own up to 40% of a rural bank’s authorized capital stock.

UCO Bank will open the auction for sale of Rs.3 to 4 billion non-performing assets next week.

Cathay Financial has bought a 3.45 percent stake in Taishin Financial for T$4.7 billion or $155 million from private equity fund Newbridge Capital.

Banking ties with China may boost Taiwan's banks this year amid an overcrowded home market and a global economic environment that could reduce their profits.

Foreign banks, long prohibited from opening branches in Thailand, will find this strangling state of affairs somewhat easing in 2013.

The Reserve Bank of India rejected proposals by several banks to launch wholly-owned subsidiaries.

Hua Nan Financial is seeking a 20 percent stake in Fujian Haixia Bank, in what would be the first direct banking investment between Taiwan and China.

Local government debts in China are being reclassified as general corporate loans to ease banks’ provisioning requirements for potential bad loans.