China

DBS would want to have 50 branches in China over the next three years and. It also intends to do the same in India by setting up a locally incorporated banking unit.

China banker said consumer credit, asset management and credit cards businesses would prosper over the next few years.

Agricultural Bank of China Limited has made substantial progress in the construction of the video monitoring network system. Recently, ABC Ningbo Branch held the "Opening Ceremony of Ningbo Branch Video Monitoring Center". Mr. Cai Huaxiang, Member of CCP Committee and Vice President of ABC attended the ceremony.

The Chinese banking sector continues to flourish and the number of hedge fund investors is increasing rapidly in the country on the back of its strong economic growth.

China is seeking to diversify its assets by branch expansion of its financial institutions.

Several foreign private equity investors set up their investment vehicles in China in the form of "foreign-invested partnerships".

Hua Xia Bank forecasts its 2010 net profit will grow 50 percent year-on-year from US$570.9 million in 2009.

Industrial & Commercial Bank of China intends to spend $140 million to acquire an 80 percent stake in The Bank of East Asia's American branch.

JP Morgan Chase raised its stake in Industrial and Commercial Bank of China.

The non-performing loan ratio of commercial banks in China was 1.14 percent at end 2010. The NPL balance is US$65.2 billion, according to a Reuters report. The provision coverage ratio of commercial banks rose to 218.3 percent as of end 2010, up by 63 percentage points from the beginning of the year. The amount of subprime loans increased by US$440.5 million at end 2010 from the end of September. The balances of doubtful loans and bad loans decreased by US$1.18 billion and US$185.3 million respectively at end 2010 from the end of September.  

The first China acquisition of U.S. retail bank is a strategic move for ICBC to further its global expansion

The Philippine's Metrobank plans to have 20 branches in China within five years.

Bank of Nanjing forecasts that 2010 net profit attributable to shareholders may grow 50 percent year-on-year.

 

Chinese regulators have ordered the nation's four biggest banks to cap their combined new loans in the first quarter at US$110 billion.