News

Move part of government-initiated reform to separate the board of directors of finance companies from management. KB Financial Group replaced three outside directors in a shareholders' meeting at the headquarters of Kookmin Bank in Seoul, Friday, joining in the industry-wide move to overhaul their board rooms. Former Industrial Bank of Korea CEO Lee Kyung-jae, EZ Digital CEO Lee Young-nam and Sookmyung Women's University Professor Koh Seung-hee were appointed as new outside directors of the group. Jacques Kemp, former ING Asia-Pacific CEO, was reappointed as an outside director. Among them, Lee Kyung-jae was appointed as chairman of the board of directors. Lee had served several key economic posts, such as CEO of Industrial Bank of Korea, chief executive of Korea Financial Telecommunication & Clearings Institute and an auditor at the Bank of Korea. ``I feel honored to be appointed a board chairman of KB. I will help KB to retain its vitality again,'' Lee said. View the full story in Korea Times.  

Parties will invest $67mln for new mutual fund business targeted to launch in Q4 2010.

Bank Negara affirms EON shareholder’s appointment of 7 independent directors last Friday.

Rating attributed to banks' well preserved and deposit-funded balance sheets and improving domestic and global economy.

Lender keen to focus business on natural resources trade, infrastructure financing and structure asset finance industries.

Source says lender’s board may place $6bln worth of shares and rights issue to meet target.

Moynihan revealed few detail on lender's move that includes obtaining securities license over next several years.

Takeover crucial to BRI as it beefs up its assets to become competitive in international market.

Improving net interest revenues and fee based income were drivers for lender's growth.

The Corporate and Investment Banking arm of the RHB Banking Group is the first Malaysian broker to be DMA-ready when it started the service back in December 2009.

Hang Seng became the first bank in Hong Kong to set an RMB prime as the base rate for RMB finance.

Lax management of Tokyo, Los Angeles and Sydney branches can result to sanction by regulator.

Analyst said selection of 7 new directors can revive HLB's bid to acquire EON Cap.

Move part of HSBC's plans to invest in China to capitalise on country’s 10.7% economic growth.

Lenders take advantage of profitability of insurance and mutual funds operations in the long run.

Yet lender decided to focus on short-term loans amidst nation's continuing political uncertainties.