News

The new head of South Korea's state-run trade bank on Wednesday stressed the need to increase the bank's capital in a bid to beef up its capacity to secure overseas projects.

Loans extended by South Korean credit card companies surged in 2010 as they beefed up cash lending to offset falling earnings from credit purchases.

The lender pushes move despite amidst Senate Economics Committee report on banking competition.

The lender still on hunt for CEO as acting Chair and CEO Ryoo Shee-yul is not included on the list.

Aside from $11,039 free life coverage, salary account’s other features includes pension accounts, wealth advisory services, as well as debit and credit cards.

Shinhan Financial Group's net income stood at US$329.9 million for the October-December period. Compared with  with the US$232 million for the same period in 2009, this is a 42.2 per cent increase.

Korea Exchange Bank's earnings sank 22.8 percent in the fourth quarter from a year earlier due to a non-interest loss and rising costs.

 

A number of efficiency indicators reveal that Indonesia’s banks are still far behind in the ASEAN.

Indonesia will delay an end-2010 deadline requiring investors to own only a single bank.

The lender is planning to raise $1bn via medium-term notes in various tranches to increase its Tier-I capital in compliance to Basel II capital requirements.

Hana’s KEB takeover is still subject for Korea’s financial regulator’s approval.

Should Malaysian regulator approve the BoB, IOB and Andhra JV, the operations will start in June.

China banker said consumer credit, asset management and credit cards businesses would prosper over the next few years.

 

BII reported a net profit of US$51.7 million for the full year of 2010.