News

Government needs to subscribe big to maintain its stakeholding at the existing level.

Australian banks’ move to enable consumers to download their apps for free to check bank or savings account balances spurred mobile transaction growth.

The move has not been seen from any Indian lender since 1987.

The Australian bank to go after Woori should the KEB-Hana deal materialises.

The takaful products to be promoted through the multi-distribution channel of tied agency, bancatakaful and employee benefits currently existing in ING and the PBB.

Crisis provided opportunity for the lender to step up its international business operations.

DBS is the only bank that has yet to meet the $6.6mln capital requirement for foreign lenders.

The bank will meet investors in 9 European cities from Nov. 17 to sell five year debt.

Deal frustrated ANZ’s intent to purchase Lone Star's 51% stake, which would have boosted its efforts to expand in East Asia.

Entrepreneurs who cannot fulfill the lending requirements can avail loans of up to $15,960.

Higher trading and foreign exchange gains, bank fees and commissions and strong contribution from key subsidiaries boosted growth.

HNB recorded a pre-tax profit of US$42 million and a post tax profit of US$25.9 million for the nine months ended September.

Bank Bukopin plans to raise up to US$ 112 million through a rights issue to finance credit expansion. The sale could potentially see the bank change hands.

State Bank of India is keen on expanding its presence in South East Asia by acquiring an Indonesian bank. The bank has allotted USD 100 million for the deal.

Banco de Oro recorded a net income of US$146 million in the first nine months of 2010. This is higher by 58 percent compared to the US$91.27 million earnings for the comparable period in 2009, and is mainly attributed to sustained growth in business volumes amid a tempered hike in operating expenses.  Net interest income rose 14 percent to US$579.5 million in the first nine months of 2010 due to a larger level of earning assets and lower funding costs. Gross customer loans expanded by 18 percent to US$11.4 billion arising from broad-based demand from various sectors. Total deposits grew 10 percent to US$16.2 billion, driven by robust growth in low-cost deposits generated from an expanded branch network. Non-interest income increased by 17 percent to US$298.9 million on the back of steady growth in fee-based service income and a 39 percent rise in trading and foreign exchange gains. The Bank continued its conservative provisioning policy, boosting provisions by 13 percent to US$116 million leading to an improved non-performing loan coverage of 90 percent from 82 percent in the prior quarter. Return on Equity moved up to 11.2 percent in the first nine months of 2010 compared to 8.8 percent in the first nine months of 2009. Capital Adequacy Ratio remained robust at 14.2 percent due to profitable operations and the US$250 million in fresh capital raised in April. Following its solid performance during the interim period, the Bank is on track to attain its net income goal of US$184.8 million for the full year of 2010.  

PACRA has upgraded the long-term rating of Bank AL Habib Limited to “AA+”. It also maintained the short-term rating at “A1+”. Meanwhile, the ratings of the unsecured, subordinated TFC issues have also been upgraded to “AA”. These ratings denote very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The Pakistan Credit Rating Agency or PACRA ratings reflect the bank’s exceptional asset quality and robust financial profile, an outcome of management’s prudent risk management policies and low risk appetite. The management’s proactive stance towards strengthening its systems and controls and initiatives in product innovation, technology upgradation and outreach expansion have assisted growth prospects, while improving the bank’s relative positioning among peers. Meanwhile, the bank continues to sustain a strong foothold in its core area of focus – trade finance to commercial segment – despite intensifying competition.