China
Taiwan banks allowed to open more mainland branches
Taiwan banks allowed to open more mainland branches
Four Taiwanese banks will be allowed by China to open branches in the country to boost financial cooperation, according to the China Banking Regulatory Commission.
What you need to know about Bank of China’s disappointing profit growth
BoC’s profit didn’t meet the 31.6 billion- yuan median estimate of eight analysts surveyed by Bloomberg News.
China banks seen to post ‘strong’ profit growth in third quarter
More central government moves to address local government debt issue, decline in inflation and resolution of the European debt crisis may boost growth.
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.
Chinese banks may be stuck with record low valuations
Shares of China’s biggest banks fell an average 23% this year.
Bank Mandiri ready to open Shanghai branch
Bank Mandiri expects to open a new branch in Shanghai later this year to boost its business and tap Indonesian corporations in China. It waited for almost five years for this. “We are now waiting for final approval from one of the regulators, the State Administration of Foreign Exchange in China,” said Haryanto Budiman, a senior executive vice president at Bank Mandiri. “The hope is that we can open the branch at the end of this year.” Haryanto said Bank Mandiri, Indonesia’s largest lender by assets, had to obtain a number of licenses from Chinese regulators. “China has a multi-license principle and there are numerous regulators in China,’’ he said, detailing the effort needed to secure a license. “It takes time, at least five years.” The China Banking Regulatory Commission granted Mandiri one of the necessary licenses in November last year. Mandiri will have to make a profit in consecutive years following the start of its operation in China, Haryanto said. “If we can make a profit for two straight years, then we will be allowed to use the Chinese yuan for transactions,’’ he said. Mandiri’s president director, Zulkifli Zaini, said in August that boosting lending in Indonesia and aggressively moving to tap markets would make the bank a regional player in the next two years. It hopes to be a top five bank in Southeast Asia by 2014 and top three by 2020. The full soptgry is available at Jakarta Globe.
Regulatory requirement makes foreign banks in China race for cash
The Chinese Banking Regulatory Commission’s 75% loan-to-deposit ratio requirement is giving banks a tough time.
Foreign banks in China remain positive on expansion moves
Foreign lenders strive to survive despite losing market share as domestic banks are gaining competitiveness.
HSBC appoints Christopher Adams as director of Global Asset Management
Prior to joining HSBC, Mr Adams was Vice President for BlackRock’s Asia ex Japan active equity capability.
AsiaPac banks gear up for Basel III
Standard & Poor’s says most Asian banks won’t find it difficult to comply with Basel III’s new capital requirements.
Chinese government vigilant for ‘shadow bankers’
More than 80 businessmen mysteriously disappeared or committed suicide to avoid repaying debts to informal lenders.
BoCom gets go signal to sell $4bn subordinated bonds
The lender kicked off the capital structure improvement process with a $3.9bn sale in July 2009.
China Merchants Bank secures regulator’s approval for CNY35bn rights issue
But the application process with the China Securities Regulatory Commission and the HKEx is still ongoing.
Forex reserve growth of China slows down
Decreased growth said to show the depth of unease created by debt fears in Europe and the weak U.S. economy.
Listed banks in China eye 30% profit growth in 3rd quarter
Analysts believe large banks’ interest margin to peak in the second quarter as their assets quality remains stable.
Ms Sue Yang resigns as nonexecutive director of China Construction Bank
Her resignation became effective from 11 October 2011.
HSBC expands renminbi trade services to all China branches
The move will provide the lender widest geographic RMB trade coverage among all foreign banks in China.