News
China regulator hunts down abusers of wealth products
China regulator hunts down abusers of wealth products
CBRC banned commercial banks to offer very high rates to attract deposits disguised as wealth management products.
NAB CEO allays fears on home loan debt
Clyne said the current European financial crisis has yet to affect its funding costs.
Visa and ANZ mobile payment project hits snag
Despite a successful trial, Visa and ANZ wait for technology to evolve to fully replace credit cards with mobile phone payments in Australia.
AgBank and Wuxi govt release $2.3bn PE fund
The lender and its local rivals take part in global rush to set up China-focused PE funds.
India’s public sector banks take steps on strike
Bank unions gave a strike call against India’s move to dilute its equity in banks and give foreign investors additional voting rights.
Mastercard breaches the great paywall of China
Under the agreement, MasterCard’s e-commerce platform will now accept China UnionPay Cards.
Westpac opens its 2nd branch in China
The new branch in the World Finance Centre in Beijing’s Central Business District is Westpac’s sixth office in the region.
Top 4 Australia banks ride on China’s growth
ANZ, NAB, Commonwealth Bank, and Westpac are competing for pole position in Australia’s largest trading partner.
China UnionPay and MasterCard inks Payment Gateway Service pact
The MOU between the companies will enable them to work together towards exploring mutually beneficial solutions to innovative payment businesses.
Korean government to impose stricter requirements on banks
Banks are required to meet the loan-to-deposit ratio of 100% by June 2012, earlier than the existing deadline of end 2013.
Westpac keen on securing CNY license
Westpac's ability to tap the booming trade between Australia and China will strengthen if CBRC grants the license.
2 Australian banks outsource 250 jobs overseas
Westpac and ANZ’s move that has cut jobs in mortgages operation and debt collection is condemned by FSU.
2 Korean private equity funds plan bidding for Woori
Vogo Fund and MBK Partners had revived their interest after their attempt was halted in the last year’s bidding because of tepid investor interest.
BoCom favoured winner in Shanghai Securities takeover bidding
The lender seen to outclass five rivals in acquiring the company’s 66.67% stake.
Maybank Singapore launches the first Syariah-compliant savings account
This account caters to the local population of around 450,000 Muslims.
Malaysian banks stable for the next 12 - 18 months
This is assuming that inflation is maintained around the 3% level.
Woori targets purchase of 4.9% stake in Hanmi Financial
Following the foiled takeover, Woori resorted to buy shares at public offering price as Hanmi Intends to use proceeds to grow its bank.
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