News

Hong Kong's banks are coping with global economic uncertainty.

A favourable business environment is urging many Vietnamese banks to invest in Cambodia this year.

LienVietPostBankc announced a pretax profit of VND1.1 trillion as of Dec 31, 2011, up 45% from last year.

DongA Bank's pretax profit increased 46.3% to VND1.255 trillion in 2011.

PG Bank reported a pretax profit of VND608 billion in 2011.

Vietnam's banks have to intensify measures in coping with a sudden surge in withdrawals at their ATMs.

RHB Capital hopes to get Bank Negara's nod to a proposed merger with OSK Holdings by the early second quarter.

MAS urged banks to quickly implement new measures to enhance the security of the retail payment infrastructure.

Europe stands poised to drag the world into another recession.

Industry players are speculating that Tan Sri Syed Mokhtar AlBukhary may sell Bank Muamalat to raise RM3 billion for the purchase of Proton Holdings.

BSN has tapped HeiTech Padu Bhd, BML Istirehat and Juris Technologies in embarking on a RM100 million Core Banking Replacement Programme.

CIMB Group would apply for a banking licence in Laos in its bid to cover all Asean markets.

The government forecasts the contribution of SMEs to the gross domestic product to rise to 41% in 2020.

Many Vietnamese banks have announced profits of trillions of dong in 2011 despite the many challenges. However, many banks say that these profit levels are not high in comparison with their equity size.

Retail banking IT spending in Asia-Pacific is pegged to increase by over US$7bn.

Japanese banks, already reeling from the country’s massive debt, fear international sanctions on Iran could deliver a “big blow” to their system.