News

The bank to tap Vietnam’s high growth potential in terms of financial services as 15% of its population has bank account.

BOC achieved profit after tax of US$16.7 billion, a year-on-year growth of 28.52 per cent.

By end of 2010, ABC's SME customers reached 63,485 and small-sized enterprises were 39,965, with an increase of 2,076 and 2,338 respectively compared with the beginning of 2010.

The ICBC Bill Department registered a transaction turnover of more than US$132.5 billion and US$158 million in profit.

Japan's devastating natural disaster will keep the economy mired in deflation in coming months.

Banks in Bangladesh were advised to take steps for enhancing the remittance inflow due to the Middle-East turmoil. The call came from the Bangladesh Bank Governor Dr. Atiur Rahman during a workshop for finding ways of increasing the receipt of remittance. The government has taken many initiatives to increase remittance legally over the last two decades. Recently, the government has introduced modern system to reach remittances to remote areas of Bangladesh, BB chief said. Meanwhile, automatic cheque-clearing system has been opened in the country and initiative is underway to introduce electronic money transfer to ease banking system. “If the step come into action, a huge number of people across the country will come under the banking network,” the governor told the meet.  Dr Atiur observed that the Middle-East crisis compelled Bangladeshi workers to return home and that might affect the national economy for a long time. “But Bangladesh Bank is conscious about the matter. It is being considered whether something could be done for those who have returned home.” He said the government is taking steps to net increased remittances from other countries.

China Bank introduced a new peso savings account developed specifically for overseas Filipino workers.

Hua Xia Bank's net profits in 2010 hit US$907.6 million, representing an increase of 59 percent from the previous year.

Maritime Bank approved targets to reach total assets of US$7.18 billion and outstanding loans of US$2.76 billion in 2011. These figures are up 30 per cent and 81.27 per cent year-on-year. It also seeks to curb its bad debt ratio below 2 per cent.

VietA Bank finalised the charter capital increase to US$148.4 million. With total assets reaching US$1.15 billion, the bank also saw its total deposits reach US$964 million, a 190 per cent year-on-year growth.

HDBank will issue US$258.7 million worth of Certificates of Deposits for both the dong and dollar. This will be applicable from March 24 to May 23, 2011.

The expansion of the Singaporean industrial real-estate investment trusts (S-REITs) into China poses a number of business risks.

Moody's says that the outlook for Singapore's banking system is stable, and expects banks to continue to record solid profits during the next 12 to 18 months.

The Southeast Asian nation expects more Islamic bank investors as it issues new permits this year for Islamic banks with a minimum capital of $1bn.

The Taiwanese lender has already inked two separate pacts with Bank of China and Bank of Nanjing since China and Taiwan signed the Economic Cooperation Framework.

$914.28mn of the bonds to mature in 10 years while $609.52mn in 15 years.