News

The Malaysian lender seeks pending regulatory approval from Indonesia as Bank Negara Malaysia has already approved the deal last January.

Retail sales value growth eased to 8.6% in February, due to  the Lunar New Year holidays.

Higher non-interest income and trading gains pushed PNB's net income 61 per cent higher. The bank recorded an US$82 million net income in 2010 from US$50.9 million in 2009.

The lender bank sought to finalize deal for a possible merger in the petrochemical sector worth $2bn.

The deal will make Bank Mandiri owner of 60% of ADB’s shares while AXA will control the remaining 40%.

Yet reports said private placement was possible rather than a block deal for the lender to unload its stake in its parent by September.

Korea’s deposit insurance agency will put most of the seven suspended savings banks up for sale. This is part of Korea's efforts to revamp the ailing financial segment.

SCB is targeting an after-tax profit of US$23.39 million in 2011, up 75.5% from US$13.3 million last year. This was recently approved by its general shareholders.

The bank aims to grow its loans by 16% in 2011 as its capital adequacy ratio is lower than that of its major rivals.

Former Finance Minister Tun Daim Zainuddin feels there are now "way too many banks" in Malaysia.

Malaysian Rating rated the sukuk AA+IS and carried a tenure of 10 years from the issue date on a 10 non-callable five basis.

Taiwan's stable economic outlook and the gradual rise in interest rates could give a modest boost to local banks' net interest margins in 2011.

Bank Rakyat received Bank Negara Malaysia's approval to increase its share capital from two billion to three billion.

With the new products, trade products can now be issued and settled in renminbi and value-added services can now be added to the existing export collection service.

Maritime Bank will prioritize lending to corporate clients, especially SMEs.

 A 10-year US$ 150 million subordinated Tier 2 syndicated facility agreement was arranged for Sacombank by FMO.   IT was signed by a group of participating development banks in Vietnam. It is the first subordinated loan to a commercial bank in the country's history. To mark this special occasion, a signing ceremony was held at the Reunification Palace in Ho Chi Min City. The transaction helps boost development of Vietnam's capital market and its SME sector. As the first-ever subordinated loan to a commercial bank in Vietnam, with long-term tenor and a syndication of development finance institutions only, this is truly a landmark transaction. The facility strengthens Sacombank's capital position, further increasing its ability to meet loan demand from Vietnamese SMEs and retail customers, and extending its reach even further. The Netherlands Development Finance Company or FMO Chief Investment Officer Jurgen Rigterink said: "FMO is proud to have arranged this first-of-its-kind loan in the history of Vietnam. This long-term commitment is a boost for the SME sector and a clear vote of confidence for the Vietnamese financial sector in general." “FMO, as the lead participant, assisted Sacombank in structuring a subordinated loan facility to enhance the Tier-2 capital of the bank. Sacombank is committed to the effective execution of this capital. This is a genuine landmark transaction in Vietnam, and especially for Sacombank,” said Sacombank CEO Tran Xuan Huy.