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CBI Executive Director Arun Kaul said the HR move is part of $54-million modernization plan to cater tech-savvy consumers.

Pursuant to the agreement, the Chinese bank which is the world's biggest lender by market value, will buy Bangkok Bank's ACL Bank shares at 11.5 Thai baht ($0.34) apiece, as reported in China Knowledge. Bangkok Bank is Thailand’s largest lender.

HSBC is in advanced discussions to buy the retail and commercial banking assets of Royal Bank of Scotland Group PLC in China, India, and Malaysia, according to a person familiar with the situation as reported in Wall Street Journal. The move is part of HSBC’s drive to expand its reach in Asian banking markets. The emergence of HSBC as the leading bidder comes after exclusive talks between RBS and Standard Chartered PLC over those assets have stalled over price, the person said. It's not clear that Standard Chartered is out of the race completely, but its bid appears to have lost momentum. HSBC is making a push to extend its reach further in Asia's relatively healthy banking markets. It is competing with Singapore's DBS Group Holdings Ltd. to buy the Asian private banking assets of ING Groep NV for around $1.5 billion in a contest that could be decided later this month. Last month, HSBC said it will return the principal office of the group chief executive to Hong Kong, a small but symbolic gesture to China, where it hopes to list its shares. "RBS is in ongoing discussions with bidders for the remaining assets it has decided to sell in Asia and will make further announcements, as appropriate, in due course," said RBS spokeswoman Yuk Min Hui in a statement.

Thanachart’s Chairman Banterng Tantivit said in a Reuters report on Oct 6: "It is in preparation in order to buy a stake in SCIB if we win the bid...and the rest will be used to boost our capital base". Under the plan, which got approval from a shareholder meeting Oct. 6, the bank would issue up to 4 billion new shares with a par value of 10 baht each to raise its registered capital to 59 billion baht from 19 billion baht. The share sale might be in one tranche or several tranches, according the bank's statement issued to its shareholders. Banterng declined to disclose the amount of funds for the acquisition until the bank completed due diligence.

The service will provide Standard Chartered Bank’s customers with a series of global services including financial solutions in banking transactions, loans, guaranties, investments, new products and high-quality services, in addition to attractive interest rates, said a report in VOV News.

Commenting on the move, bank’s Chairman and Managing Director MV Nair ,in a report in Business Standard, said: “These are difficult times. So, we want to save cost. In addition, though we are hiring, it takes time before the staff is properly trained to be posted at new branches”. The bank’s operating expenses increased to Rs 543 crore ($115.53 million) in June 2009 against Rs 416 crore ($88.51 million) in June 2008 - an increase of 35 per cent year-on-year, mainly due to implementation of project Nav Nirman, a scheme launched by Nair to put Union Bank among the top three public sector banks by 2012.The Mumbai-based bank was one of the few banks in the country which had chalked out major expansion plans. In comparison, other banks such as the State Bank of India, ICICI Bank and IDBI Bank are planning to add more than 500 branches in 2009-10. These three banks will go ahead with their expansion plans.In contrast to the Union Bank’s jeremiads of difficult times, an IDBI Bank executive said “Recruitments are less costly now. In addition, it is a good time to enter into property lease agreements as rates will go up soon”. Between April and December this year, IDBI Bank plans to add 200 new branches and will open the remaining branches in the fourth quarter. At the end of March, the erstwhile development financial institution had 595 branches.

South Korea's fourth-largest Hana Financial Group Inc., which on Monday announced that it was giving a thought on a rights offer, is considered to be preparing for an M&A bid, as reported in Xinhua . "As part of our capital plan, we are considering a rights offer in a range that won't damage the total shareholder value," Hana said in a regulatory filing. Local observers expect that the amount of rights offering may reach up to 2 trillion won ($1.7 billion), the media said. Hana's capital adequacy ratio and tier-1 capital ratio posted 12.1 percent and 8.1 percent, respectively, as of end-June, standing far above the level recommended by the nation's financial watchdog, which suggested the offers may not be related to improvement in the bank's capital sound, according to the media. With the money raised from the offer, Hana is likely to pursue financing an acquisition of a bank or a financial group, it said. Hana did not accept or reject the speculation.

Amid reports that talks with Standard Chartered Bank failed over valuation of the assets, ABN Amro bank’s spokesperson said: “RBS is in ongoing discussions with bidders for the remaining assets it has decided to sell in Asia and will make further announcements, as appropriate, in due course” . ABN Amro Bank, was acquired by RBS in 2007, according to a report in The Statesman.ABN Amro’s dismal $1319 profit per employee figure and NPAs amounting to 2.2 % of its assets in 2008-09 compel RBS to talk to bidders. According to RBI data on comparative performance of banks, ABN Amro did not do well on various parameters as compared to other major foreign banks operating in India. Among the important performance parameters, it witnessed a sharp decline in profit per employee to Rs 0.62 lakh ($1319) in the year of 2008-09 from the Rs 7.66 lakh ($16,298) in the previous year. The business per employee figure is an indicator of the efficiency and productivity in a company. For ABN Amro its amount is significantly below the average of Rs 24.78 lakh ($52,723) recorded by 30 foreign banks operating in the country. Besides, low employee profitability, ABN Amro Bank also witnessed sharp increase in its net non-performing asset (NPA) ratio, suggesting a sharp spurt in bad loans. The net NPAs of the bank rose to 2.2 per cent of its assets in 2008-09 from 0.85 per cent, which is only a shade better than the crisis-ridden Citibank.

ANZ may take another look at RBS banking assets in China after Standard Chartered PLC pulled out of talks to buy the operations, says spokesman. "ANZ would be prepared to look at the RBS assets in China if financial sense could be made of that," the spokesman said. "At present, however, our priority is around regulatory approvals and integration planning for the assets in the six countries where we have already reached agreement with RBS," he said, in a report in the Wall Street Journal. However, ANZ Bank is currently not in any discussions with RBS on the China operations as of yet, he said. ANZ CEO Mike Smith revealed that the bank hopes to amass 20% of revenues from Asia by emerging as a “super regional bank.” ANZ already has some presence in China. It holds banking licenses in three major cities, and holds stakes in Bank of Tianjin and Shanghai Rural Commercial Bank. It is also in the process of getting local incorporation in China.

Minsheng, China’s first privately owned bank, is seeking U.S. regulatory approval to boost its holding in San Francisco- based UCBH to at least 50 percent from its current 9.6 percent, according to inside sources.The sources have declined to be identified as the talks are private. Minsheng already has an option to raise its stake to about 20 percent, according to Bloomberg News.Daniel Rosen, principal of the Rhodium Group in New York and a visiting fellow at the Peterson Institute for International Economics in Washington, said that Minsheng “has been the vanguard inside China in terms of trying to be more consumer-oriented,” “It doesn’t surprise me they would contemplate doubling down their position in a second-tier niche American bank like UCBH. It would be a good incremental step for them.” Increasing Minsheng’s investment would allow it to learn more about the U.S. banking market and protect its holding in UCBH. Minsheng has plowed $126 million into UCBH since October 2007 and is the bank’s biggest shareholder. UCBH stock has lost 97 percent since then, cutting the bank’s market value to $79 million. The shares advanced 13 percent yesterday.

A Visa survey revealed that 68 percent of Taiwanese consumers are interested in using Visa Prepaid cards as an alternative payment tool. Furthermore, the Visa Prepaid Card Preference and Usage Survey found that 83 percent of respondents said they were interested in using a Visa Prepaid card because it could help them better control their expenses by limiting their spending to the amount loaded on the card. Forty-three percent of respondents viewed it as an ideal cash/check alternative for everyday purchases, while 38 percent thought it very convenient because they did not need to open an account or hold a credit line with a bank to use Visa Prepaid cards.Among respondents who are interested in prepaid cards, 95 percent noted a preference for the reloadable version over the disposable version.Marco Ma, Country Manager of Visa Taiwan, said, “Visa Prepaid cards enable many consumers – even those without traditional banking relationships – to access preloaded funds to make everyday purchases, pay bills and make purchases online. Visa Prepaid cards can open up secure and convenient card payments to those who do not have bank accounts.”The survey also found that 70 percent of respondents agree to having a ceiling set on the amount loaded on the card.

Presently a corporate agent of LIC, the public sector lender has now formed a joint venture with UK-based Legal and General Plc Insurance Co and public sector Bank of Baroda (BoB) for the launch of its new life insurance products. In a report in the Business Standard, Andhra Bank Chairman and Managing Director RS Reddy said, “The joint venture is going through formalities. We expect some products to be ready in the first quarter of the next financial year.” The venture will focus on creating new products mainly for the rural markets. “Legal has a long product range,” he said, adding both Andhra Bank and Bank of Baroda have an experience in bancassurance and an established network in rural markets.

Phenomenal growth in its United Arab Emirates operations has left the Bank of Baroda (BoB) eager to expand operations in the area.

Talks between Standard Chartered PLC and Royal Bank of Scotland Group PLC (RBS) for the sale of RBS' assets in India, China and Malaysia seem to have flopped due to disagreements in pricing, according to a report in the Wall Street Journal.

DBS CEO Koh Boon Hwee reveals DBS' latest plans for expansion in Indonesia: to open 100 branches and look for acquisitions in the next three years.

After garnering a huge success with their children’s savings program in Singapore, OCBC is eager to spread the word further in Malaysia, according to Asiaone.