News

The Asian Banking and Finance Retail Banking Awards 2011 is now underway its process of nomination.

China Everbright Bank's net profit is up jumped 67.4 percent to US$1.96 billion U.S. dollars for the 12-month period ended on Dec. 31. 2010.

Westpac Banking Corporation expand its business in Asia organically and through partnerships rather than acquisitions, according to its chief executive Gail Kelly.

China eager “to push 'Asianization' of the renminbi” as analysts believe it is in its interest to establish more offshore renminbi hubs.

Despite 27 branch closures in 2011, the lender still has no plans to pull out of South Korea.

The FSS advised South Korean banks to step up overseas expansion as local market is already saturated.

The opening of its Singapore branch marks a major in implementing the international expansion strategy of China CITIC Bank Corporation Limited in building its franchise into a world-leading brand.

CIMB Group is eyeing mergers and acquisitions to expand its Southeast Asian franchise.

Bank Islam's stake in Sri Lanka's Amana Bank has increased to 20 per cent after an additional eight per cent acquisition.

 South Korea's Financial Supervisory Service will restrain local banks' attempts to excessively inflate assets. This is part of banks' startegy to maintain their financial health.

The merger eyed jumpstart succeeding alliances in brokerages as the industry suffers lack of global competitiveness.

China’s regulator may reassess the operations of banks’ interregional branches as it advised them to focus on their own markets of origin.

The FSC plans to end the Lone Star chief Paul Yoo’s stock manipulation case within the month.

The Malaysian lender seeks pending regulatory approval from Indonesia as Bank Negara Malaysia has already approved the deal last January.

Retail sales value growth eased to 8.6% in February, due to  the Lunar New Year holidays.

Higher non-interest income and trading gains pushed PNB's net income 61 per cent higher. The bank recorded an US$82 million net income in 2010 from US$50.9 million in 2009.