China

Preparation for China Everbright Bank's Hong Kong listing has been going smoothly, according to its vice president Lin Li.

A Russian bank is considering its first issuance of yuan-denominated bonds in Hong Kong.

ICBC carried out numerous RMB-foreign currency option trading with Bank of China on the inter-bank foreign exchange market.

The lender plans to establish full service unit in Sao Paulo with an initial capital of $100mn after expansion in US and Europe.

China Everbright Bank's net profit is up jumped 67.4 percent to US$1.96 billion U.S. dollars for the 12-month period ended on Dec. 31. 2010.

Westpac Banking Corporation expand its business in Asia organically and through partnerships rather than acquisitions, according to its chief executive Gail Kelly.

China eager “to push 'Asianization' of the renminbi” as analysts believe it is in its interest to establish more offshore renminbi hubs.

China's Bank of Communications in the United States will include deposit-taking, lending and trade finance in its services.

China’s regulator may reassess the operations of banks’ interregional branches as it advised them to focus on their own markets of origin.

The lender’s capital adequacy ratio rose to 11.47% in 2010 from 10.45% at end 2009.

The bank aims to grow its loans by 16% in 2011 as its capital adequacy ratio is lower than that of its major rivals.

The move aimed to further boost business of China in Taiwan as economic exchanges across the Taiwan Strait are increasing daily.

Rising interest rates have helped China’s “Big Four” banks record double-digit profit surge.

Rebalancing growth

Moody's said  the outlook for China's banking system is stable over the next 12 to 18 months. It added that the country's banks have adequate cushions against rising non-performing loans.

The lender to use proceeds to increase stake in Union Trust to 56%.