News

Westpac, St.George merger yields below expectations

Westpac head still optimistic on bank's performance next year as economic conditions improve.

Westpac, St.George merger yields below expectations

Westpac head still optimistic on bank's performance next year as economic conditions improve.

India seeks legislation downsizing stake in State Bank

Selling of shares aimed to raise funds to maintain bank's 12 percent capital adequacy ratio.

Morgan Stanley resells stake in China Investment Capital

Morgan Stanley's possible $1 billion deal will remove hindrance in expanding its presence in mainland China.

Shinhan, Korea Exchange Bank Q3 profits soar

Cost-cutting scheme of two banks has been proven effective in reducing bad loans.

Moody’s: Chinese banks want life insurers

Chinese commercial banks will increase investment in life insurers in view of the strong growth potential in the Chinese insurance sector.

StanChart Islamic unit aims expansion

Global economic recovery and opening up of some countries for Islamic banking spur StanChart Saadiq’s expansion.

Maybank welcomes partnership with Turkish bank

Maybank limits its collaboration with Bank Asya on trading and products but not in buying stakes.

Mandiri is optimistic despite incurring huge bad loans

Mandiri still managed to enjoy 0.29 percent increase in NPL ratio despite having $313-million non-performing loans.

Major Australian banks to reposition brands

Skyrocketing lending margins push banks to get closer with their customers through rebranding.

Big Indian banks to stop offering special schemes

Reserve Bank of India's Q2 review prompts two India banks to defer 8 percent promo loans.

HSBC hunts for new acquisitions in emerging markets

HSBC wants to capitalise on the growth of investments in China, India and Malaysia.

Singapore's DBS weighs in on lesbian sex debate

What you do on your own time is, well, apparently the bank's business these days, with DBS Bank publicly rebuking an employee for being elected president of woman's advocacy group AWARE and calling for less focus on lesbian issues.

South Korea to sell Woori Finance shares for $740 million

According to Reuters, Woori Finance is currently 73 percent owned by the South Korean government.

Reserve Bank of India says Islamic banking ‘not feasible’

LIC has set up a team looking into Islamic products. However, a Reserve Bank of India study has recently concluded that Islamic banking may not be feasible in the current regulatory framework in the country.

UOB wants to chop insurance arm

According to Top News, The move is a clear indication of increased optimism among executives, who are looking at terminating the business.

HSBC to offer Hang Seng Structured Investments

Hang Seng’s strong capital position prompts HSBC to woo investors to take part in the former’s growth potential.     Body:  HSBC Bank Malaysia Berhad has introduced the 4-Year MYR Equity Linked (Hang Seng Bank Ltd) Structured Investment which provides customers the opportunity to invest in the potential growth of Hang Seng Bank Ltd, according to a report in the Bernama. A member of the HSBC Group, Hang Seng Bank was awarded the Best Retail Bank in Hong Kong by The Asian Banker. Hang Seng Bank's capital position remains strong with a Tier 1 ratio of 13.1 per cent (relative to the industry ratio of 8 per cent) and capital adequacy ratio of 16.6 per cent. As of June 2009, its mainland business contributed 11.7 per cent to Hang Seng Bank's pre-tax profit, a 2.3 per cent increase from first-half of 2008. HSBC said the investment is available from Oct 1 to Oct 15, 2009 and a minimum investment amount of RM250,000 is required to be placed as principal for a four-year tenure.

ICICI banks on infrastructure lending to boost growth

Chanda Kochhar, managing director and chief executive officer, said at the sidelines of a seminar on micro, small and medium enterprises (MSME):  “A lot of activities have come back in terms of re-starting projects. The fact that the projects are coming to financial closure indicates the sector will grow,” as reported in the Business Standard.