China

ICBC posts 33% growth in credit cards issued

ICBC posts 33% growth in credit cards issued

ICBC card spending grew 76% in 2009 that made it world's fourth largest credit card issuer.

China Merchants eyes raising $3.22bln via rights issue

Rights issue with 1.3-for-10 ratio for Shanghai and Hong Kong aimed to bolster balance sheet.

Approval of ICBC's $530mln bid for ACL likely

China lender targets owning 51% of ACL shares as it strives to gain foothold in Thailand.

China defends 2 banks downgraded by Fitch

Regulator insisted banks are sound despite admitting that country’s excessive lending exposed them to credit risk.

Bank of Communications plans raising $3.7bln

Funds to support balance sheet could reach up to $5.85 billion as amount is not yet finalised.

Bocom International to raise $500M for China private-equity fund

Bocom International is seeking to raise as much as $500 million in its first private-equity fund focusing on Hong Kong and China.

Asia Pacific banking systems exhibit stability

Twelve of Asia Pacific’s banking systems were given improved stable outlooks by Moody’s Investors Service.

Shimao Property hires HSBC and StanChart for $400M loan

Two people familiar with the matter said Shimao Property, a Chinese developer controlled by billionaire Xu Rungmao, hired the two banks for a three-year loan.

China Construction and Banco Santander JV talks ongoing

CCB would provide 60 percent for the venture while Banco Santander will fill in the rest.

China Exim Bank to receive Central Huijin funding

Central Huijin plans to inject $7.32bln to the lender and China Export & Credit Insurance Corp.

Bank of Communications to receive capital from government

A source said the threat of seizing control over lender prompted China’s Ministry of Finance move.

DBS gears up China expansion

Bank highlights China market as it plans adding 12 branches here within next 5 years.

Fitch cautions Chinese banks of huge ‘bubble risk’

The agency issued warning after it downgraded China Merchants and China CITIC over bad debt.

Hang Seng unveils Foshan sub-branch

Hang Seng China opened its first cross-city sub-branch in the Nanhai District, Foshan City.

China bank stocks collapse to pre-crisis levels as fears mount

China's tightening efforts in lending are causing stock market panic, bringing down bank valuations close to recession levels.

Major China banks begin tightening credit

Regulators' pressure prompts BOC and CCB to put up measures to curb lending.

China banking crisis as trade finance lines pulled

With banks in China confirmed to have suspended new lending since 19 January, import orders for commodities and machineries are seen to be affected the most.