News

The bank aims to regain market share this fiscal year.

CIMB Group will expand in Laos through its Thai unit as the two countries share a historical and trade relationship.

Thai banks are cool to Finance Minister Kittiratt Na-Ranong's advice to recapitalise as many of them have built up reserves aggressively in the past year.

Bank Indonesia will require also Shariah banks to toughen down payments on housing and automotive loan.

KrungThai Bank hopes to raise at least Bt14 billion via a rights offering.

CIMB Thai Bank is adjusting its deposit structure to expand the number of retail customers.

This is over 20% below the market forecast of US$108 billion.

Taishin Financial Holding will diversify its product lines after securing a deal to buy the local unit of New York Life Insurance Co.

Rizal Commercial Banking Corp.'s income grew 35 percent year-on-year in the first semester to P3.01 billion or US$71.95 milllion.

Vietnam's central bank has allowed lenders to raise their credit growth targets up to 27 percent from a cap of 17 percent.

The State Bank of Vietnam's master plan to restructure the banking system initiated in April has produced its first merger.

Global banks that outsource work overseas will be forced to step up supervision of back office operations after lapses involving Indian offshore units.

Hong Leong Islamic expects its debit cards to increase total deposits from RM75 million to RM200 million or US$64.13 million.

ABN AMRO will start providing its escrow and settlement services in Asia as it focuses its international growth on specialist businesses.

A massive drought is leading to a wave of farm loan defaults that threatens to boost the non-performing loans of Indian banks. The Reserve Bank of India, the central bank, however, claims Indian banks are resilient enough to weather the pressure on farm loans caused by the drought. “Whenever there is drought, there is a pressure (on farm loans). But we have sufficient rehabilitation measures so that banks can weather it out,” said RBI Deputy Governor K C Chakrabarty. He noted that India’s banking system has enough resilience and will be able to face the stress. The government will invoke the law and other schemes to meet the challenges of the \drought in several states. It noted that contingency plans are in place to help farmers replant alternate crops and to supply drinking water and fodder to farmers. Monsoon rains are relied upon to grow India’s crops but there was 20% less rain in June and July.

Spot checks will be carried out on South Korean Standard Chartered and HSBC Holdings over money laundering allegations.