News

UBS Chief Executive Oswald Gruebel will pursue an overhaul of investment banking at a meeting with the board in Singapore, after unauthorized trading caused a $2.3 billion loss.

FY12 loan growth is forecast to be between 8% and 8.5% which is sharply lower than FY11’s forecast of between 16% & 20%, but it doesn’t stop there.

The creation of Woori Card follows similar moves by the lender’s rivals.

Robust operating income and disciplined expenses fuelled growth.

The booming bilateral trade between India and Australia opens door to the lender’s entry in Sydney.

Indian government seen to allow foreign insurers to raise their stakes.

As the savings bank sector accounts for roughly 5% of the national banking system, which is relatively too small for it to make a big enough impact.

Profits of city commercial banks and joint stock banks surged 55.05% and 46.81% respectively.

The ratings agency revised the bank’s outlook to stable from negative, noting that some of the bank's financial metrics have improved since September 2010.

Its capital buffers are also the highest compared to OCBC and DBS.

Shareholder interest and profitability issues may force HSBC and other British banks to reconsider relocation.

Industry urged to revamp governance and put determined effort on overseas expansion.

The bank is exploring fund-raising opportunities in currencies like the Swiss franc and the Japanese yen.

As external debt declined to 59% in March of this year, the lowest level in a decade.

China's central bank just took 20 billion yuan or $3 billion out of state-owned banks by forcing them to purchase packages of central bank bills.

ICBC increased its loans to small enterprises in the Midwest and Northeast China in the first seven months from 65.6% or 155.2% respectively against beginning of the year.