News

ICBC surpasses first-quarter profit performance of JP Morgan, most profitable bank in the US, by 49%.

The lender’s launching of its second branch in Vietnam and its first priority banking service signifies its commitment to reach out to customers in the country.

The lender targets more than 500,000 users of Investment 3.0 in an effort to educate and empower Filipinos on building wealth through investments.

Indian government seeks support from banks for the growth of the sector.

Policy holders can receive payments for death and permanent incapacitation, as they can get up to 40% of the total coverage if they incurred a major accident.

A study revealed that state-run banks would need 500,000 employees over the next 10 years to maintain their competitive edge.

Woori's first-quarter earnings fell by 50.6 per cent from a year earlier on an absence of one-off gains.

KB Financial Group's first-quarter earnings rose 23.3 percent from 2010. This is due to improved interest margin and a fall in loan-loss reserves.

Industrial Bank of Korea's first-quarter earnings jumped 50.7 percent from last year. The bank ascribes the growth to increased interest income and lower loan-loss reserves.

DaiABank a total profit of 80.8 billion dong, equalling to 63 percent of the whole year profit in 2010.

The product is now available in 3,000 branches across the country to promote income security to the elderly to all sectors of the society.

Doubts on the merger surface as Financial Services Commission is reviewing whether Lone Star Funds is qualified to be Korea Exchange Bank's largest shareholder.

Asia Commercial Joint Stock Bank or ACB reported gaining a total pre-tax profit of 900 billion dong in the first quarter.

PT Bank Syariah Mandiri booked Rp 418.5 billion in net profits last year, a 43.8 per cent increase from the Rp 290.9 billion it earned in 2009.

Take it with a grain of salt. Many media reported that a PBoC advisor, XIA Bin, said China needs only "US$1tn reserves" and it will not rule out a one-time appreciation.

South Korea's Financial Supervisory Service is tightening supervision of credit card companies on worries that their easy loans may lead to default crises.