News

The launch of the agreement will enable acceptance of China UnionPay cards at EFTEX connected ATMs in Australia.

Korea Deposit Insurance Corp. plans to begin the bidding process for seven suspended savings banks this week as part of efforts to restructure the embattled savings banking sector.

Korea Exchange Bank's first-quarter earnings plunged 46.4 percent from a year earlier due to one-off costs and increased loan-loss reserves.

Moody's  upgraded EON Bank Bhd's foreign currency long-term/short-term deposit ratings to A3/P-1 from Baa2/P-3.

Bank of China started operating its Phnom Penh Branch, making it the first lender from China in Cambodia. It also became the Kingdom's 30th commercial bank.

VietinBank signed a deal for increased cooperation with UniCredit S.p.A., the biggest bank in Italy.

Italian banking group Intesa Sanpaolo and Vietcombank have signed a mutual agreement aimed at supporting corporate clients in developing internationalization plans in Vietnam and Italy.

Hong Leong Bank Bhd has acquired EON Capital Bhd's assets and liabilities for RM5.06 billion.

Delay may cause serious blow to South Korea’s privatisation efforts as the fundraising strategy could provide bumper profits to the government.

Premier Heritage policyholders to earn minimum interest of 2.5% per annum upon maturity when the bearer reached hundred years old.

Some banks resort top paying commissions to agents to help attract short-term deposits before the end of each month to evade the regulation.

StanChart is among the lenders in talks with ING for the 12-year-old ING Direct unit with estimated value of $6.5bn.

Banco de Oro reported that its earnings for the January to March period grew by 18 per cent.

The bank believes its campaign of offering to pay the exit fees for mortgage customers who desert its competitors is key in outpacing the market.

Allahabad Bank's net profit increased to Rs.258 crore for the quarter ended March 2011 as against Rs.225 crore in the corresponding quarter last year. This represents a year-on-year growth of 14.74 per cent.

SaigonBank has approved the 2011 business plan in the annual general meeting with targeted pre-tax profit of 350 billion dong and dividend payment of 11 percent.