News

The lenders are now allowed investment of their renminbi holdings in government and corporate debt in China's interbank bond market.

VDB cut its target of disbursing loans to investment projects by US$143.9 million, or 10.5 per cent, to US$1.19 billion in 2011.

Norfund will provide a $5 million to Sacombank-SBL for 5 years.

Oceanbank cut dollar and dong lending interest rates from March, 2011 to support exporters who committed to sell back dollar income to the bank.

SCB will divest its shareholding in SICCO through a public auction. With this process, Siam Commercial Bank will ensure that it openly canvasses a broad range of buyer as is possible in the shortest possible time frame and with a transparent process.

ABC will keep close watch on relevant policies to intensify its efforts in supporting the construction of government-subsidized housing, while shift its priority to quality projects. It will focus on the projects developed by enterprises with strong economic strength and with complete legal procedures.

Malaysia's banking sector expects to boost its pre-tax profit to US$8.24 billion from US$7.58 billion last year, according to Bernama News.

Bank Islam Malaysia Berhad is hoping to increase Visa debit card members to 500,000 in 2011.

The lender’s board had approved the expansion of the bank’s operations with two new branches in Auckland and in Wellington.

The lender was able to release $57.25mn in 2010 as the lender sees room for further optimization on business behind huge market potential.

With the approval the CCB Taiwan representative office can engage in non-operating activities like communicate with Taiwanese banking institutions and clients and collect local financial information.

Expects profit from non-Australia and New Zealand to rise by 30% as it aims to compete head-to-head with HSBC and StanChart.

The lender assures no job cuts despite closures as it streamlines operations as it faces escalating competition.

The lender plans to tap more from Malaysia’s 1.9mn registered migrant workers which are estimated to remit $4.84bn this year.

The lender aims to rev up operations behind lackluster Thailand economy as its parent company’s overseas operations expected to benefit from the region's booming economic growth.

Products can yield high interest rates of up to 5.38% whose minimum amount that can be transferred is US$10,147, while the maximum is US$338,249.