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KB Financial third quarter profit soared six-fold to $519.2mn
KB Financial third quarter profit soared six-fold to $519.2mn
Yet the results still fell short of analysts’ expectation.
ICBC Beijing now monitors service outlets in real time
All services in all outlets under ICBC Beijing are now monitored in real-time.
Hong Leong Takaful Eyes RM10 Million Contribution From MBSB Tie-up
Hong Leong Takaful expects to net RM10 million in gross premiums in the first year following the MoU with Malaysian Building Society Bhd for the i-Save takaful plan.
ICBC matches forecast with 28% increase in Q3 net profit
ICBC's third-quarter net profit rose 28 percent, helped by an interest rate hike and strong growth in fee income. Reuters reported that the bank registered a net profit of 54.36 billion yuan in July-September from 42.16 billion yuan recorded during the same time last year, it said in a filing to the Hong Kong stock exchange. It was also in line with forecasts for a 54.5 billion yuan net profit, according to a Reuters poll of 12 analysts. Fee and commission income rose 43 percent from a year ago to 78.3 billion yuan. ICBC's investment banking arm is ICBC International, which snagged several high-profile deals including being joint bookrunner for CITIC Securities' $1.7 billion Hong Kong share sale. Net interest income rose 20.5 percent to 267 billion yuan, helped by a widening net interest margin. Higher interest rates typically help banks by allowing them to charge more for loans. Deposit rates are capped in China.
CIMB-TrustCapital Singapore acquires 850 Collins Street in Melbourne
850 Collins Street is an A-grade commercial office building that is currently under construction and is scheduled for completion in October 2012.
OCBC and LionGlobal to launch new unit trust
The LionGlobal New Target Return Fund has an investment time frame of five years.
Hong Leong Bank launches personal accident plans for households
The lender said customers can start planning for personal accident coverage for three generations from as low as $13 monthly.
Bank Central Asia third quarter profit up 42% to $323.35 mn
Bank Central Asia (BCA), Indonesia's No. 3 lender, on Monday said its third quarter 2011 net profit rose 42 percent from a year ago, driven by strong loan growth.
RHB Cap given extra time for rights issue
Bursa Malaysia Securities provides 6 month extension of its $416mn fundraising scheme.
Union Bank of India profit up 16% to $71.2mn
The lender’s total income was posted at $1.13bn during the quarter.
RED SEGURA and GRGHK unveils multi-vendor solution to eliminate use of magnetic cards
RED SEGURA's kit converts any ATM into an NFC/RFID/QR ATM ready while maintaining support for legacy EMV and magnetic cards.
8 out of 10 CMO’s to increase social media use in 3-5 years
And nearly 1,700 chief marketing offers believe that the digital media era is evolving the field.
GRGBanking to develop Myanmar’s national financing switching
GRG also signed the agreement with MIT to develop the Myanmar Payment Union.
Indonesia's ATM networks to be integrated by 2012
The integration of three ATM providers into a combined system should be completed by the end of 2012, a central bank official has said.
Huawei to introduce virtual ATM
Huawei Technologies will introduce the virtual ATM service in Malaysia next month.
Hana Financial third quarter profit down 58% to $178.9mn
The company awaits regulator to order Lone Star to sell stake in Korea Exchange Bank to discuss deal.
HSBC launches insurance business in Beijing
HSBC Life’s bancassurance business handles insurance portfolios with an average case size of RMB100,000.