News

Asian banks will continue expanding overseas to grow faster and improve yields.

Allahabad Bank reported a more than expected 23% net profit growth due to a Rs 120-crore cash recovery.

HSBC’s admission to money laundering for criminal syndicates compels regulators from both countries to exchange more information.

India’s YES Bank and Japan's Shinsei Bank enter into a comprehensive business alliance.

China reiterates its promise to boost bank loans to the more productive sectors of its wallowing economy and away from real estate speculation.

A low risk strategy enables India’s ICICI Bank to post a net profit of US$327 million in the first quarter.

US investment bank Piper Jaffray & Co will exit its money-losing operations in Hong Kong this September

The Philippine Deposit Insurance Corp. has approved the merger of Philippine National Bank and Allied Banking Corp.

State Bank of India's asset quality has improved from last year, according to Chairman Pratip Chaudhuri.

UK's Financial Services Authority and the Reserve Bank of India mutually assist and exchange information in supervision of banks operating in both the countries.

Mizuho Financial Group Inc has increased loans overseas by 25% from a year earlier in March and now looks to expand lending by another 30%.

Indian banks are in for lower asset quality and weaker earnings in the next two years.

Bank Negara Indonesia anticipates a 40 percent growth in its credit card transaction value in 2012 as it intensifies cooperation with merchants and other companies.

HSBC is in the final stages of acquiring the bulk of the Royal Bank of Scotland's Indian business. HSBC expects the Reserve Bank of India, the central bank, to approve the takeover within the next two weeks. Both banks are expected to confirm the approval in separate statements. HSBC will then take ownership of most of RBS's 30 branches in India. The deal, first announced in 2010, is likely to see HSBC pay some US$109 million for RBS' business, which also includes RBS's commercial banking operations in India. The sale is part of RBS' ongoing efforts to reduce its international business to comply with tougher banking rules in the Eurozone. RBS, however, will retain an investment banking presence in India.

India's state-run banks has been directed by the Finance Ministry to assess capital requirements, including investments in JVs or subsidiaries.

The Philippine Savings Bank reported an earnings increase of 50 percent year-on-year to P1.38 billion in the first half.