Retail Banking
China regulator hunts down abusers of wealth products
China regulator hunts down abusers of wealth products
CBRC banned commercial banks to offer very high rates to attract deposits disguised as wealth management products.
India’s public sector banks take steps on strike
Bank unions gave a strike call against India’s move to dilute its equity in banks and give foreign investors additional voting rights.
Shenzhen Development Bank mulls raising funds via private placements
The lender joins rivals in capital raising to comply with governments stricter requirements.
Westpac keen on securing CNY license
Westpac's ability to tap the booming trade between Australia and China will strengthen if CBRC grants the license.
2 Australian banks outsource 250 jobs overseas
Westpac and ANZ’s move that has cut jobs in mortgages operation and debt collection is condemned by FSU.
2 Korean private equity funds plan bidding for Woori
Vogo Fund and MBK Partners had revived their interest after their attempt was halted in the last year’s bidding because of tepid investor interest.
BoCom favoured winner in Shanghai Securities takeover bidding
The lender seen to outclass five rivals in acquiring the company’s 66.67% stake.
Singapore’s big 3: New capital rules no big deal
Robust capital and financial standing of DBS, OCBC and UOB make them easy to comply with the new MAS ruling.
Woori targets purchase of 4.9% stake in Hanmi Financial
Following the foiled takeover, Woori resorted to buy shares at public offering price as Hanmi Intends to use proceeds to grow its bank.
StanChart Philippines to choose partner for bancassurance business
The lender is In talks with potential partners besides PruLife to complement its roster of services for the country’s elite.
China Construction Bank to divest Baotou Group stake
CCB plans to sell shares of the company with largest rare earth production and research base in China with appraised value of $110.48mn.
StanChart Philippines plans setting up wealth management unit
The lender woos 2,500 of the country’s affluent to avail Priority Banking Program composed of competent wealth managers.
StanChart Korea unit employees on strike
The protest of about 3,000 union members against a scheme determining compensation based on individual performance comes as the lender struggles to...
Hang Seng Bank expands non-interest income sources
The lender is currently ready to distribute mutual funds is already in talks with fund management companies about possible cooperation.
China Everbright defers $6bln Hong Kong listing
Delay resulted from growing volatility in global markets even as the lender planned to price deal on July 8.
Vietnam, Laos intensify financial cooperation
Standing Deputy Prime Minister Nguyen Sinh Hung announced that Vietnam will work closely with Laos to promote the training of Lao lecturers...
Sacombank annual demand deposit rates up to 12%
Sacombank will apply the demand deposit rates for the individuals and institutions that have opened the non-term payment accounts in dong at...
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The Asian connection: China's path to sustainable growth