News

Bank Islam Malaysia Berhad is hoping to increase Visa debit card members to 500,000 in 2011.

The lender’s board had approved the expansion of the bank’s operations with two new branches in Auckland and in Wellington.

The lender was able to release $57.25mn in 2010 as the lender sees room for further optimization on business behind huge market potential.

With the approval the CCB Taiwan representative office can engage in non-operating activities like communicate with Taiwanese banking institutions and clients and collect local financial information.

Expects profit from non-Australia and New Zealand to rise by 30% as it aims to compete head-to-head with HSBC and StanChart.

The lender assures no job cuts despite closures as it streamlines operations as it faces escalating competition.

The lender plans to tap more from Malaysia’s 1.9mn registered migrant workers which are estimated to remit $4.84bn this year.

The lender aims to rev up operations behind lackluster Thailand economy as its parent company’s overseas operations expected to benefit from the region's booming economic growth.

Products can yield high interest rates of up to 5.38% whose minimum amount that can be transferred is US$10,147, while the maximum is US$338,249.

Any reduction in spending arising from the new measures on credit cards, is unlikely to dampen the overall net interest income of banks, says OSK Research. It added that the total credit cards debts in the banking system is still marginal at 3.4 per cent of the total loans base.

DongA plans to sell a 15 per cent stake to foreign investors to raise $42.85 million. The bank didn’t name possible buyers.

Under the Agreement, BNP Paribas will offer cash management services to its local and multinational customers through Sacombank’s branch networks in Vietnam.

Supreme Court’s recent ruling and labor union protests threaten to veto the merger.

Aggressive push from the lender’s high-ranking officials added holders to 1mn.

The move is part of the lender’s wealth strategy of investing in real estate business.

The lender plans to allot $200mn on overseas acquisitions and targets on banks with strong corporate banking services.