News

The HCM City People’s Court has ordered Indochina Airlines to pay US 1.3 million dollars to the Asia Commercial Bank.

A fiscal funding will soon provide additional capital for China's cash-strapped banks.

The Export-Import Bank of Korea raised US$612 million by selling "Uridashi" bonds in Japan.

Bank of China will face the challenegs after being named one of the systemically important financial institutions or SIFIs by the Financial Stability Board.

DBS exceeded its expected net profits for the third quarter, but another Singaporean bank, UOB, posted lower than expected net profit.

ANZ Banking Corp. posted a 19 percent rise in annual profit to 5.36 billion Australian dollars or $5.54 billion.

Public sector banks are will not raise interest rates as they are convinced their customers will remain loyal.

An institutional caution has been issued and a fine of 54.5 million won or US$49,086 has been slapped against Kookmin Bank for breaching regulations on loans and personal data.

The Industrial Bank of Korea announced that its third-quarter earnings rose 12 percent from a year earlier due to an increase in interest income.

Bank Muamalat opened a branch in Taman D Lahar, Kota Putera, in Besut district.

AmInvestment Bank Group has launched a four-year close-ended fund that caters to investors looking for regular income and capital preservation.

“At the right time and right price, we’ll always be a buyer,” CEO Piyush Gupta said.

The bank’s non-interest income also declined 26% due to net trading loss.

You can well blame it on poor trading and investment income.

Allahabad Bank registered a net profit of Rs.488.01 crore for the second quarter ended Sep 30, 2011, from Rs.402.57 crore last year. This figure represents a growth of 21.22 percent. Bank chairman and managing director J.P. Dua ascribed the good results to "leveraging the network operation." The Kolkata-headquartered bank's operating profit increased to Rs.949.29 crore during the period under review from Rs.781.53 crore during the corresponding period last year, registering a growth of 21.47 percent. Net interest income (NII) of Rs.1318.23 crore, during the second quarter of this financial year, showed a growth of 36.01 percent. Deposits of the bank went up to Rs.142,043 crore as on Sep 30, 2011 from Rs.113,633 crore on Sep 30, 2010, showing a year-on-year growth of 25 percent. Gross credit was Rs.96,854 crore as on Sep 30, 2011, as against Rs.83,183 crore as on Sep 30, 2010. Year-on-year basis, the gross credit growth was 16.44 percent. 'Our total business was Rs.238,000 crore as of Sep 30 this year. We have a target of Rs.280,000 crore total business at the end of the current fiscal,' Dua said. Dua said last year the government had infused Rs.670 crore and this year the bank was hopeful of getting Rs.1,000 crore. The bank has planned to open 155 new branches and 500 ATMs within the financial year 2011-12.

Westpac Banking Corporation posted a 10 percent rise in full year profit to US$7.2 billion from US$6.54 billion U.S. dollars last year.