China
ANZ invests additional $124.9M in BoT
ANZ invested another US$124.9 million in BoT to support the latter's strategic growth agenda.
ANZ invests additional $124.9M in BoT
ANZ invested another US$124.9 million in BoT to support the latter's strategic growth agenda.
ICBC to raise $6.8bln via rights issue
Central Huijin to participate in ICBC’s move to replenish capital following successful attempts of the bank’s rivals.
Moody's sees positive outlook on three Chinese policy banks
Moody's upgraded the long-term ratings of three big policy banks in China to Aa3 from A1. The three banks are China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China. China Development Bank’s long-term foreign currency senior unsecured debt rating was upgraded to Aa3 from A1. While Export-Import Bank of China’s long-term domestic and foreign currency senior unsecured debt ratings was upgraded to Aa3 from A1. On the other hand, Agricultural Development Bank of China’s long-term foreign currency was also issuer rating upgraded to Aa3 from A1. The action follows Moody's decision to upgrade China's long-term foreign currency sovereign rating to Aa3 with a positive outlook from A1. The banks' baseline credit assessments are also changed to 4 from 5, on a scale of 1 to 21, where 1 represents lowest credit risk. The action reflects Moody's view that the banks will continue to receive full support from the government as 100 per cent state-owned banks. Although the government has begun to initiate reforms to operate the banks more based on commercial interest, state ownership in these entities is not expected to change during Moody's rating horizon.
BOC’s nine month profit up by 27.70%
BOC recorded a profit after tax of US$12.48 billion in the first three quarters of 2010, an increase of 27.48 per cent compared with the same period of 2009. The Bank of China achieved profit attributable to equity holders of US$11.9 billion, an increase of 27.70 per cent compared with the same period of 2009. As at 30 September 2010, The Bank's total assets amounted to US$1.52 trillion, an increase of 15.43 per cent compared with the prior year-end, exceeding US$1.5 trillion for the first time.
ICBC starts Europe and Middle East expansion
The lender is also looking at potential acquisitions in Europe and the Middle East aside from setting up branches.
China Construction Bank now world's largest with $247bln market value
The lender unseated ICBC behind Central Huijin’s unlocking of shares and its plan for a $9.2bln rights issue.
China regulator approves $6.7bln ICBC rights issue
The lender also raised $3.75 billion from a September convertible bond sale to boost capital.
Bank of Communications to launch services for iPad
The bank targets its 1.5mln mobile banking users with monthly transaction value of $975.1mln.
China Construction Bank plans raising $9.2bln via share sales
The lender seen to follow its rivals’ move to raise more funds.
China’s AgBank confident on meeting $12.42bln target
The lender has no immediate plan to buy a foreign company as central bank's recent move won't affect it much.
ABC officially launches private banking service
ABC’s private banking service was launched in 12 provinces and cities includes Beijing, Tianjin, Shanghai, Jiangsu, Zhejiang, Shandong, Hubei, Guangdong, Qingdao, Ningbo, Xiamen and Shenzhen.
New image launched for ABC’s new e-banking era
Agricultural Bank of China Limited unveiled its shining "Golden Online" logo to launch its brand image. The launching of new image of ABC's e-Banking brand and its sub-brands marked the establishment of a complete and clear Golden Online brand series and further consolidated the market position of Golden Online as the most competitive and advanced brand in the sector. It will definitely initiate a new development mode for the marketing of e-Banking brands and lead the e-Banking into a new era of brand competition instead of service competition. For these years, ABC has always adhered to the market-led and customer-oriented philosophy and blazed new trials in a pioneering spirit to rapidly develop its e-Banking business. ABC's first self-service equipment was put into operation in Guangdong Branch in 1987 and its online banking business was formally launched in 2002. By now, ABC's e-Banking business has formed five transaction channels including online banking, telephone banking, mobile banking, television banking and self-service banking, and three service platforms including customer service center, portal site and SMS service, with over 120 million customers, and the channels accounted for 57.78%. Meanwhile, ABC has always been leading in the financial innovation by launching various financial services and actively researching financial products for tri-networks integration. ABC's e-Banking business has come into a new historical point after these years' development.
China Minsheng Bank profit up 46.5% to $619.5mln
China Minsheng Banking Corporation recorded a 46.48 percent year-on-year increase in third quarter net profit attributable to shareholders to 4.14 billion yuan ($619.51 million), with earnings per share of 0.16 yuan ($0.02), according to a company filing.
ICBC third quarter profit up 27% to $6.4bln
The lender acquired a small insurer to initiate step toward its goal of becoming a financial conglomerate.
China regulator penalises lenders for 'hot money' inflows
Branches of BEA and BoC among the eight cases that made 197 illegal transactions totaling $7.34bln.
Bank of Communications profit up 24% to $1.37bln
Despite double digit growth, third quarter profit still fell short of the $1.42bln median analysts’ estimate.
Bank of Communications to launch HK private banking
The lender sees Hong Kong capable of attracting investors of private trust funds and investment immigration.