News

The lender assures no job cuts despite closures as it streamlines operations as it faces escalating competition.

The lender plans to tap more from Malaysia’s 1.9mn registered migrant workers which are estimated to remit $4.84bn this year.

The lender aims to rev up operations behind lackluster Thailand economy as its parent company’s overseas operations expected to benefit from the region's booming economic growth.

Products can yield high interest rates of up to 5.38% whose minimum amount that can be transferred is US$10,147, while the maximum is US$338,249.

Any reduction in spending arising from the new measures on credit cards, is unlikely to dampen the overall net interest income of banks, says OSK Research. It added that the total credit cards debts in the banking system is still marginal at 3.4 per cent of the total loans base.

DongA plans to sell a 15 per cent stake to foreign investors to raise $42.85 million. The bank didn’t name possible buyers.

Under the Agreement, BNP Paribas will offer cash management services to its local and multinational customers through Sacombank’s branch networks in Vietnam.

Supreme Court’s recent ruling and labor union protests threaten to veto the merger.

Aggressive push from the lender’s high-ranking officials added holders to 1mn.

The move is part of the lender’s wealth strategy of investing in real estate business.

The lender plans to allot $200mn on overseas acquisitions and targets on banks with strong corporate banking services.

Hana Financial Group is expected to pay an additional US$79 million to U.S. buyout firm Lone Star for the r Korea Exchange Bank takeover.

The China Banking Regulatory Commission ordered banks to "properly handle" problems related to housing loans and protect the rights of customers while improving risk management.

Agricultural Development Bank of China plans to issue 400 billion yuan, 60.6 billion U.S. dollars, in bonds in 2011.

Metrobank posted a 39 per cent growth in its net profit in 2010. This is attributed to a surge in non-interest earnings. Officials disclosed that Metrobank earned US$193.55 million.

The State Bank of Viet Nam warned leaders of Kien Long Bank and Western Bank for interest rate violations.