News

Local banks have been advised to stop selling short-term investment products by the China Banking Regulatory Commission.

OCBC Overseas Property Financing-Australia is also a ringgit-based loan.

The ratings agency revised the Korea-based bank’s outlook to stable from positive, as there's a risk that its loans may grow well beyond the industry's average.

56 OCBC branches will now have a new account opening system.

South Korea's Financial Services Commission will decide this week whether to order Lone Star Funds to lower its 51.02 percent stake in KEB to 10 percent.

Woori Bank plans to sue 3 foreign banks in a New York federal court due to improper sale of risky derivatives that caused it to incur heavy losses.

A China Construction Bank spokesman said that Bank of America's decision to sell most of its CCB shares will not affect CCB's development.

Bank Islam Malaysia Bhd plans to expand its operations in Indonesia and other countries where there are a majority of Muslims.

BofA will sell its remaining 10.4 billion CCB shares to private investors this month.

South Korean banks rushed to secure long-term foreign currency loans to prepare for a possible crisis.

The net profits of Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. from April to September came in better than initial estimates.

TienPhongBank posted a net profit of VND79.07 billion or $3.77 million in the third quarter of this year, rising 50% from a year earlier.

There have been three block deals worth more than $2b in the past week.

The Nations Trust Bank reported post-tax profits of Rs 1,170 million for the first 9 months of the year, up 38% over the corresponding period in 2010.

The Saigon-Hanoi Bank has been allowed by the State bank of Vietnam to open a branch in Laos.

The Bank for Investment and Development of Vietnam  opened three additional branches in Ho Chi Minh City.