News
Vietnam Development Bank to cut loans by 10.5%
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.
Vietnam Development Bank to cut loans by 10.5%
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.
Sacombank inks $5M credit contract with Norwegian fund
Norfund will provide a $5 million to Sacombank-SBL for 5 years.
Oceanbank cuts lending rates to support exporters
Oceanbank cut dollar and dong lending interest rates from March, 2011 to support exporters who committed to sell back dollar income to the bank.
Siam Commercial to auction shareholding in SICCO
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 to intensify support for government-subsidized housing
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 banks anticipate higher pre-tax profit
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.
BIMB to grow Visa debit card members to 500,000
Bank Islam Malaysia Berhad is hoping to increase Visa debit card members to 500,000 in 2011.
Bank of Baroda to set up branches in New Zealand
The lender’s board had approved the expansion of the bank’s operations with two new branches in Auckland and in Wellington.
CIMB Niaga micro-lending doubles to $19.03mn
The lender was able to release $57.25mn in 2010 as the lender sees room for further optimization on business behind huge market potential.
Taiwan approves CCB’s application for local office
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.
ANZ keen on expanding in Asia through M&A
Expects profit from non-Australia and New Zealand to rise by 30% as it aims to compete head-to-head with HSBC and StanChart.
StanChart Korea to shut down 27 branches
The lender assures no job cuts despite closures as it streamlines operations as it faces escalating competition.
Maybank aims to rev up remittance business
The lender plans to tap more from Malaysia’s 1.9mn registered migrant workers which are estimated to remit $4.84bn this year.
UOB Thai targets 20% business surge due to low base
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.
DBS Taiwan launches new savings products
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.
Malaysian credit card guidelines hardly threaten bank incomes
Any reduction in spending arising from the new measures on credit cards, is unlikely to dampen the overall net interest income of banks, says OSK Research. It added that the total credit cards debts in the banking system is still marginal at 3.4 per cent of the total loans base.
DongA to sell 15% to foreign investors
DongA plans to sell a 15 per cent stake to foreign investors to raise $42.85 million. The bank didn’t name possible buyers.
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