News
US probes UK-Chinese bank connections on Iran business
US authorities have extended investigations of UK's HSBC and Standard Chartered to search for information on Chinese banks' businesses with Iran.
US probes UK-Chinese bank connections on Iran business
US authorities have extended investigations of UK's HSBC and Standard Chartered to search for information on Chinese banks' businesses with Iran.
China, Taiwan prepare for cross-Strait currency clearing
China and Taiwan has paved the way for the establishment of a cross-Strait currency clearing mechanism by signing a memorandum on currency clearing.
Indonesia's Bank Mandiri to fortify Hong Kong unit
Encouraged by the huge remittances in its Hong Kong branch, Bank Mandiri is aiming to strengthen its business in the said country.
Offshoring popular among Hong Kong banks
An Asia-wide survey of the financial services sector found that 63% of Hong Kong banks and financial companies believe offshoring effective.
China Bank to finally have its own credit card
The Philippines’ China Banking Corporation will issue its first credit card next year.
Mizuho receives US$2 billion credit for M&As
Mizuho Bank Ltd, the banking unit of Mizuho Financial Group, is set to finance more mergers and acquisitions abroad with a US$2 billion credit line from the government.
BoCom boosts core capital
Bank of Communications Ltd said it has raised US$4.7 billion to meet the government’s capital adequacy ratio requirement.
CCB faces lower profitability; more bad loans
A rising number of bad loans threaten future earnings for China Construction Bank Corporation that saw its first-half net profit rise 15% year-on-year.
Citi issues own credit cards in China
Citigroup Inc has made history by becoming the first Western bank to issue its own credit card in China without co-branding from a local financial institution.
Bad debts in Zhejiang pull down banking sector
Massive bankruptcies among small businesses causes soured loans in Zhejiang Province to balloon by over 50%.
Flagging economy slams Bank of China
Bank of China Ltd reported a net profit of US$5.5 billion, a 5.3% improvement year-on-year from US$5.2 billion.
Bank of China posts weakest net increase in 3 years
Bank of China posted a 5.1 percent rise in second-quarter net profit, its slowest profit growth in over 3 years.
Singapore's banks on the look-out vs European tax evaders
Banks in Singapore have been warned since last year against funds being transferred to evade taxation elsewhere.
Financial services to reach Muslims in rural Malaysia
Financial reforms in Malaysia will give Islamic banks more opportunities in the rural areas.
OSK-RHB merger set for completion by Q1 2013
The merger between OSK Holdings Bhd's investment banking arm and RHB Capital Bhd is expected to be completed by the first quarter of 2013.
Union Bank of India branches to reach 3,500 by March
Union Bank of India plans to increase number of branches from around 3,200 to 3,500 by March, 2013.
Japan’s megabanks dominate world lending
Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group, Inc. and Sumitomo Mitsui Financial Group Inc. have loaned a record US$515 million overseas.
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Why Philippine banks, insurers embrace hyper-personalized services
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Industry experts push for the rapid progress of unified customer data as a starting point.
Industry experts push for the rapid progress of unified customer data as a starting point.
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