News

Provisions for bad loans almost trebled USD$310 million as chairman Wee Ee Hong said he was more upbeat.

Ambank Group recorded a profit after tax and minority interests of $731.34 million for the first quarter of its financial year ending 31 March 2010, thanks to its Retail Banking business. This represents an increase of 27 percent over its previous corresponding quarter and annualised earnings per share of $.1074 and post-tax return on equity of 13.1 percent.

Metrobank President Arthur Ty says his bank will continue to cut costs to boost the bottom line, and it's working.

And the government considers waiving 49 percent rule to allow foreign banks to take a controlling stake.

Wing Hang Bank blames unemployment and shrinking trade for its 45.4 percent decrease in profits for the first half of 2009.

HSBC has completed a mandatory tender offer for the remaining 10.11 percent of the Bank Ekonomi shares held by the general public.

Fubon Bank and its subsidiaries reported a net profit of US$13 million for the first six months ended 30 June 2009. The global financial crisis and the ensuing recession that emerged from the fourth quarter of 2008 continued to weigh heavily on Hong Kong's economy and had negatively impacted on the Bank's earnings.

KTB anticipates approving loans of not less than US5.2 billion in the second half of the year.

A slew of high yield term deposits sold by Kookmin say its net interest margin fall by half a percent in Q2 and profit slump over 60 percent.

Aussie Banks ready to wean themselves off the government guarantee on wholesale bank lending, ANZ Chief Mike Smith says.

India's ICICI Bank may have posted a profit last quarter, but deposits shrunk 6.4 percent even as it increased branches by 13 percent and its rivals gained deposits.

HSBC Chairman Stephen Green says the bank has passed the bottom in the cycle in financial markets as the bank saw net income fall over 50 percent to $3.35 billion.

After months of negotiations, ANZ has been confirmed as the buyer of RBS' wealth and retail operations in Singapore, Indonesia, Taiwan, and Hong Kong for $687 million.

It’s good news for now as India's largest bank adds branches in rural areas and gaining market share against rivals like ICICI.

First it was the NAB. Now the big four aussie banks are looking at cutting account withdrawn fees to appease customers.

The SMI Capability Enhancement Project is offering financial support of up to US$2.938 million per entrepreneur for the second year.