News

China's central bank just took 20 billion yuan or $3 billion out of state-owned banks by forcing them to purchase packages of central bank bills.

ICBC increased its loans to small enterprises in the Midwest and Northeast China in the first seven months from 65.6% or 155.2% respectively against beginning of the year.

China’s bank regulator has urged banks to guard against risks in commercial real estate projects that have been targeted by speculative investment.

ICBC secured more than 600,000 cash management customers by end of June,  an increase of nearly 20% over the end of previous year. This allows ICBC to hold on to the top spot in domestic ranking and reinforces its "No. 1 cash management bank" in China. In response to the increasing demand of customers for global and regional cash management, ICBC being the first commercial bank in China to launch global cash management service, offers a basket of cross-border cash management services to multinational corporate clients worldwide through its independently developed global cash management service system and a global network of branches and correspondent banks. Today, ICBC has built an extensive network of 16,000+ banking offices in China, 220 overseas subsidiaries and 1,516 corresponding banks in 134 countries. Besides, ICBC steps up its effort in forming partnership with other banks. Service scope is expanded via the cash management cooperation with 20+ overseas banks. This year, ICBC set up Asia Pacific Cash Management Center in Hong Kong in an effort to innovate the delivery of cash management service, especially moving the global cash management service to regional for faster response and collaboration. This new service architecture in Asia Pacific places ICBC's head office, regional center and overseas subsidiaries under one roof. The ICBC executive also pointed out that more and more companies start to focus on the liquidity management and risk management worldwide, and exercise more control on the funds operation in a Group. This offers a good opportunity for ICBC to loom large its cash management business. In the next phase, ICBC remains customer-focused.

This should keep the government bond yields low in Q4 2011.

Bank Indonesia will issue a regulation obliging the savings of foreign exchange from exports and foreign loans in doemstic banks, according to Jakarta Post.

Bank of China and Taiwan-based Hua Nan Bank and Chang Hwa Bank entered into the comprehensive business cooperation agreements.

Maybank Bhd will open at least six branches in Sabah as part of the commitment of the nation's biggest commercial bank to stimulate the economy, says executive vice-president Mohd Hanif Suadi.

ICBC announced after-tax profit in the first half of 2011 of RMB 109.6 billion, up 29% year-on-year.

ICBC registered RMB 3 trillion of assets under custody in the first half of 2011, ranking first among Chinese banks for 13th consecutive year.

The lender’s decision to sell its UK operations is still pending.

The lender shifts its eyes on Asia as economic growth in Latin America falls short from expected.

M&A deals in Thailand involving medium-sized corporations are seen as growth opportunities waiting to be seized.

SME loans have increased by US$53.33bn as of July 2011 since July 2005.

The lender adds branches as its business grew 20%.

Malayan Banking Bhd (Maybank) has applied for a banking license in Laos, said President & Chief Executive Officer Datuk Seri Abdul Wahid Omar.