More News

Mitsubishi USJ Financial Group Inc plans to strengthen its capital alliance with CIMB group to boost its banking business in South-East Asia.

South Korea's financial regulator plans to limit credit card firms' excessive credit issuance and marketing costs.

Vietinbank will complete the sale of 15 percent stake to Canada’s Bank of Nova Scotia in the second half of this year.

OCB will put into operation the new ATM cards and cease transactions for the old cards.

Vietnam Development Bank achieved a total outstanding loans of around 90 trillion dong by end of 2010 aftere 5 years of operations.

Questions abound over Maybank role in the funding of troubled state-owned Vinashin's US$600mil facility now that the shipbuilder has defaulted again.

Baoviet Bank launched it package for high-ranking customers that offer a total solution to meet the needs of finance-investment-insurance with only one registration.

This is due to lower impairment expenses, stable net interest margins, and sluggish loan growth that will support higher earnings, says Moody’s.

UOBI aims to achieve a pre-tax profit of 30% by 2015.

The company is optimistic that Asia’s economic growth, while Asian currencies appreciate as against weakening US dollar will drive company’s earnings up.

It is the first time a foreign bank in Vietnam, namely Hong Leong Bank, can make ATM transactions under the Smartlink system without any fees.

OceanBank and Hanoi Broadcasting Television Services Co signed the cooperation contracts for charge collection services for Hanoi Cable TV subscribers. At the same time, OceanBank also inked contract with VTC Intercom to offer electrical paid-in services for the online shopping website of paygate.vtc.vn. With such services, the Hanoi Cable TV subscribers and users of online shopping website at paygate.vtc.vn will have another channel for making periodical payment every month.

Power Finance Corporation is actively seeking a role in the booming banking sector of India. It is in the process of appointing a consultant to guide the company through the entire process.

The State Bank of Vietnam granted a license for Busan Ltd Bank to open its representative office in HCM City.

The chief of Shinhan Bank named Vietnam among its options for expansion into Southeast Asia in an effort to boost its revenue sources. "I believe that Shinhan Bank could have competitive edges in China, Japan and Vietnam, into which the bank has made inroads relatively earlier," said Suh Jin-won, president of Shinhan Bank. "If we are able to do the current credit card business well in Vietnam, we could get an explosive boost from it. ... We are considering expanding our presence in emerging countries. We are open to various options, including takeovers." Suh earlier said the bank plans to make forays into one or two countries in Asia this year as the local banking markets have almost been saturated. Indonesia and Malaysia are among potential options. Shinhan plans to increase the portion of income generated from its overseas operations to around 10 percent of its total earnings by 2015, up from the current 3 percent.  

Taiwan earlier planned to increase the government's stake in CHB and to persuade Taishin to sell some of its CHB stocks to state-owned banks.