News

The class action by retiree Elizabeth Saunders and 14 others settled on a confidential basis.

Citi surpasses UBS as the leading high net worth wealth manager in Asia-Pacific according to a Private Banker International report.

The tie-up’s Enhancer Direct scheme to assist viable SMEs that are unable to secure financing due to insufficient collateral.

Japan’s Mizuho Financial Group will acquire a 15 per cent stake in Vietcombank for $567 million in what is possibly Vietnam’s largest ever inbound acquisition.

Maybank expects its community financial services revenue to grow to RM12 billion in 2015, from the current RM6 billion.

Agribank said it faces no finacial problems even though it has a bad debt of 6.67 percent of its total loans.

The lender has set up a Foreign Direct Investment Advisory unit to drive the increase in business.

Once completed, the merger will overtake CIMB Securities which is currently leading with a market share of 10.5%.

27% of Maybank Group's total loan and advances come from its Islamic unit.

The programme is aimed to achieve greater flexibility and diversity in the lender’s asset and liability management.

The lender joins 11 others which could face similar suits regarding overcharging of fees.

The lender sticks to its promise not to seek a rights offer to raise additional capital within two years from its IPO.

ICBC electronic banking posted a turnover of over RMB 100 trillion during the first six months of this year, up 21.8% year-on-year. Of which, turnover of Personal Internet Banking and Mobile Banking rose 37.1% and 387%. ICBC keeps on top of the domestic league table.

The new-generation asset and liability management system developed independently by Agricultural Bank of China Limited has been formally rolled out.

ICBC saw a strong growth trajectory in its RMB business, with a turnover in the first half of 2011 trebled last year's to RMB 406 billion, RMB 280.4 billion in cross-border RMB settlement, RMB 120.6 billion in trade finance.

The 209 outlets of Tibet Branch of Agricultural Bank of China Limited has been interconnected.