News

Loans by China's Big Four banks to local government financing vehicles (LGFVs) amounting to US$410 billion from January to June has increased the risk of default by these entities.

Delinquency ratio before provisioning of South Korean card companies rose by 0.06 percentage point in the second quarter from the previous quarter.

Nomura Holdings intends to save up to US$1 billion in a worldwide cost cutting program centered on its wholesale division.

The Indian government wants unclaimed funds amounting to US$446,825,738 from Indian banks of more than 10 years be credited to a new fund.

State Bank of India and the Japan Bank for International Cooperation will help small companies Japan do business in India.

Agricultural Bank of China's profits jumped 20.8 percent year on year in the first half of the year to 80.52 billion yuan.

US authorities have extended investigations of UK's HSBC and Standard Chartered to search for information on Chinese banks' businesses with Iran.

China and Taiwan has paved the way for the establishment of a cross-Strait currency clearing mechanism by signing a memorandum on currency clearing.

Encouraged by the huge remittances in its Hong Kong branch, Bank Mandiri is aiming to strengthen its business in the said country.

An Asia-wide survey of the financial services sector found that 63% of Hong Kong banks and financial companies believe offshoring effective.

The Philippines’ China Banking Corporation will issue its first credit card next year.

Mizuho Bank Ltd, the banking unit of Mizuho Financial Group, is set to finance more mergers and acquisitions abroad with a US$2 billion credit line from the government.

Bank of Communications Ltd said it has raised US$4.7 billion to meet the government’s capital adequacy ratio requirement.

A rising number of bad loans threaten future earnings for China Construction Bank Corporation that saw its first-half net profit rise 15% year-on-year.

Citigroup Inc has made history by becoming the first Western bank to issue its own credit card in China without co-branding from a local financial institution.

Massive bankruptcies among small businesses causes soured loans in Zhejiang Province to balloon by over 50%.