News

South Korea's three major banking groups have submitted bids for a troubled mid-sized savings bank.

Vietnam bank loan growth slowed in January and dong lending slipped. Businesses are seeking dollar loans and sold dong to take advantage of a gap between local currency and dollar rates, central bank data showed.  

Vietnam's banks are selling dollars to businesses at a premium on the official rate by adding “consulting” fees. The State Bank of Vietnam Monday set the reference rate for the greenback at VND20,713 based on which banks sold it at VND20,900.

 DBS bank downgraded its forecast for the dong and expects the currency to decline by another 3.75 per cent against the U.S. dollar.

The lender plans to subscribe to 1.04 billion new shares to be issued by the insurer worth $392.55mn overall.

The bank’s initiative of paying $700 fee charged by rivals sound commercial decision for the good of customers.

The bank's is optimistic as the growth of Bharat is driven by implementation of India's agricultural reforms.

Yet the lender still needs approval from Chinese lender to complete upgrade.

The assets of Indoenesia's Islamic banks are expected to grow by half this year. Indonesia's central bank noted that the state increasingly turns to the sector for their financial needs.

 Banco De Oro's consolidated resources has breached the US$ 22.8 billion mark at the end of 2010. The figure is a 16-percent increase from the previous year's level of US$19.69 billion.

 ABC will build itself into an outstanding large listed bank beginning 2011.

ICBC secured the first place in the ranking of Chinese cash management banks by scoring more than 500,000 customers as of the end of 2010.

Several banks expressed interest in establishing sharia banks in Indonesia.

Maybank Islamic expects a 30 per cent growth in Islamic finacing this year.

Bank Indonesia expects sharia banking assets to grow by 45 percent this year after five banks established sharia business units in 2010.

Moody's upgraded China Everbright Bank's (CEB) long-term foreign currency deposit ratings to Baa3 from Ba1. It also upgraded its short-term foreign currency deposit ratings to Prime-3 from Not-Prime. The outlook is stable.