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The proceeds to be used to fund overseas expansion.

Higher profit was attributed to higher net interest income, other operating income, income from Islamic banking business and impairment writeback on other assets.

Most of the 10 lenders had over 30% net profit rise in the same period.

The lender’s non-interest income income from trading and trust and fee-based profits, income from securities trading and earnings from foreign exchange trading suffered fall.

Money Expo 2011 will be held in Kathmandu from Sept. 12 to 14 as the first ever event in Nepal dedicated to promoting investment opportunities and wealth protection strategies. The three-dayexpo will have more than 100 stalls, including that of financial sector regulators, stock exchange, commodities exchanges, banks and financial institutions, investment and remittance companies, among others, said the organizers at a press meeting. More than 50,000 people are expected to visit the expo, reports Xinhua News. "The expo also aims to strengthen business-networking for financial sector players and their constituents by providing opportunity to speak directly with leading experts," said the organizers. The expo will feature seminars and lectures from financial experts, regulators, analysts and successful investors.

The labor union at SC First Bank said will continue  to oppose the bank's move to adopt a merit pay system.

The lender said its net interest margin has improved and has the potential to widen.

It’s the first Intelligent Cash Automation Solution order from Asia Pacific region to implement P2801L AutoDepot at RT Mart Taiwan.

It also has the option to increase its stake to 40%.

Muthoot Group will open 50 branches in West Bengal by March 2012.

India Infrastructure Finance will take over 6 billion rupees worth of loans from state-owned lender,IDBI Bank.

So far BOC has over 14,000 ATMs made by GRGBanking.

This is a 37% decrease compared with the same time last year.

The bank partnered with Kony to create the banking app for three smartphones, namely Apple iPhone's iOS, Google's Android OS and the RIM BlackBerry OS.

For 2Q11, the Group’s net profit of RM970m was 5.8% higher than 1Q11.

Vietinbank is demanding debt payment via SMS messages to help reduce its bad and late-paying debts as well as building the good habit of clearing debt on time.