News

BNP Paribas Singapore branch was granted a wholesale banking license to widen the services offered locally. With this new license, BNP Paribas Securities Services is now able to offer local and global custody services in addition to the trustee, fund and investment administration services it already provides to its clients in Asia.

Standard Chartered Bank will acquire 14 narrow body aircraft from GE Commercial Aviation Services through its Pembroke Group.

Hang Seng Bank enhanced its securities services with its new trading centre at its main branch in Hong Kong. Called the Hang Seng Securities Select Customer Trading Centre, it allows selected customers to trade with ease by contacting managers through exclusive trading hotlines or visiting the Centre. The dedicated relationship managers can provide information about local securities, Shenzhen and Shanghai B shares, and selected Singapore securities with ease.

Metrobank implemented its electronic-to-mobile payment system for processing of duties and taxes of its client importers. It involves the use of both cash and non-cash payments for either advanced or final settlement of duties and taxes. Non-cash payments include tax credit certificates, tax exemption certificates and advanced payments covered by letters of credit.

HSBC Amanah Malaysia Berhad opened its third branch in Ampang Point, Selangor. The opening was officiated by Irene Dorner, Chairman of HSBC Amanah Malaysia, and Musa Abdul Malek, Chief Executive Officer of HSBC Amanah Malaysia.

HSBC became the first locally incorporated foreign bank in Vietnam to expand its distribution network via its transaction office.

Public Bank and ING launched separate insurance plans for females and children.

CIMB created a strategic link to China with its acquisition of 19.99 percent stake in Bank of Yingkou.

Meyado Private Wealth Management has recently announced an expansion of operations as well as a relocation of offices.

Moody's revised the outlooks of the banks' financial strength ratings or BFSRs of three Singapore banks from stable to negative.

For its first nine months of operations, Canara HSBC garnered US$60.25 million in gross written premiums.

Public Bank reported a loan growth of US$1.4 billion to reach US$38.8 billion as at the end of March 2009. The growth, pegged at 4 percent, is much higher than the banking industry’s loan growth rate of 0.4 percent for the first two months of 2009.

A new mortgage plan that enables property buyers to enjoy first-year monthly installments of as low as US$430 was launched by the Bank of East Asia.

United Overseas Bank (Malaysia) Bhd has introduced the new UOB eAccount, an online savings account aimed to provide banking convenience to customers.

The Bank of East Asia (BEA) has launched a new mortgage plan offering a first-year mortgage rate of P3.28 percent (prime rate) for Emerald Green property owners.

Citibank ATM or Debit cards can now be used at AXS Stations for the payment of bills and other services.