News

The company became more driven to acquire life insurance firm after losing bid to buy MetLife Taiwan.

38 employees of ING Bank Manila's trust department will be absorbed as a separate division under BPI, which became the manager, adviser and administrator of 32 investment funds.

The move will expand Chinatrust’s capability to offer insurance and diversify its revenue sources.

The lender to begin scouting for a partner to offer wealth management products and services after the next 5-6 months.

TrustBank's business targets in 2011 include hiking its chartered capital to 5 trillion dong, up 66.7 percent over 2010.

HSBC in Vietnam earned a pre-tax profit of $67.9 million in 2010, a year-on-year increase of 38 per cent against the figure previous year.

Moody's said  the outlook for China's banking system is stable over the next 12 to 18 months. It added that the country's banks have adequate cushions against rising non-performing loans.

The participation of NIB Bank Ltd. and Soneri Bank Ltd. in the ADB's Trade Finance Program  means there are now 13 Pakistani banks signed up to the program.

Fundtech Ltd., a market leader in global banking solutions, announced the results of a survey on mobile corporate banking.

The card provides different limits, flexibility in transaction, high daily cash withdrawal and access to complimentary privileges for card holders.

The lender to use proceeds to increase stake in Union Trust to 56%.

The lender plans to buy one to two additional savings banks to tap microcredit finance business.

The Korean lender offered 2.5mn shares in KB Financial to Sumitomo at $50.53 per share.

The lender to find replacement of Michael Lor through talent search companies.

Japan quake, tsunami, and nuclear crisis has negative implications on heavy-equipment manufacturers.

ACB adjusted the dong demand saving rate for its online savings with a highest level of up to 9.6 per cent per year.