News

The initiative aims to cover more than 50% of the population who does not have bank accounts.

KDIC chooses Woori Finance to take over the lender which was suspended because of its troubled capital condition.

Hana Financial announced that it has completed raising funds to acquire a 51.02 percent stake in Korea Exchange Bank.

South Korea's Financial Services Commission pledged to supply liquidity and buy distressed property-linked loans to help ailing savings banks.

PT Bank Central Asia its saw 2010 fourth quarter net profit slide 29 percent as net interest income dropped and competition for consumer loans grew.

DaiABank targets over 600 billion dong of pre-tax profit in 2011. The bank planned to submit the targeted year plan to the shareholders in the annual shareholders meeting to be held in the near future.

Bank of China is opening a yuan repurchase facility in Hong Kong that will boost the Chinese currency's business in the territory.

Total card transactions made tremendous growth in Vietnam in 2010 against five years ago when the first one was conducted.

The State Bank of Vietnam issued a regulation to require the state – owned and joint-stock commercial banks to report certain operational targets of their 2011 plans.

South Korea's financial regulator on Saturday suspended operations of four savings banks, including three affiliates of the country's largest savings bank, Busan Savings Bank. It cited concerns over liquidity shortage.

The HCM City People's Committee has set up a team to investigate if banks have been selling US dollars at above the official selling rate by charging "fees". 

ANZ reported a 27 per cent rise in the first-quarter underlying profit on good momentum and lower provisions for bad debts.

China's banking regulator announced that the country's commercial banks had improved their capital adequacy at the end of last year.

CCB is the only lender among China’s to four that is yet to get approval from Taiwanese regulator.

The move will give way for the bank to invest Japanese pension money fast growing Asian economies.

China’s central bank has vowed to adopt a more market-based system for setting interest rates but has proceeded cautiously.