more stories

UOB eyes expansion, takeovers in China

Business | Banking
2011-9-3

SINGAPORE'S United Overseas Bank is poised to expand its network in China and is open to takeover opportunities in the country, its Vice Chairman and Chief Executive Officer Wee Ee Cheong said in Shanghai yesterday. ...

---

Singapore UOB eyes China takeovers

Business | Banking
2011-9-2

SINGAPORE'S United Overseas Bank is poised to expand its network in China and is open for takeover opportunities in China, its Deputy Chairman and Chief Executive Officer Wee Ee Cheong said in Shanghai today. The...

---

More small-sum credit needed

Business | Banking
2011-9-2

SHANGHAI encourages overseas and out-of-town investors to set up small-sum credit companies in a bid to help the city's small enterprises have access to loans, local financial authority said yesterday. Small enterprises...

---

Europe's banks find defenders

Business | Banking
2011-9-2

EUROPEAN bankers and politicians leapt to defend the region's banks yesterday, rejecting an International Monetary Fund estimate that they need 200 billion euros (US$290 billion) in new capital to reflect sovereign...

---

Lucky 13 get PBOC licenses

Business | Banking
2011-9-1

CHINA'S central bank yesterday approved the second group of 13 non-financial institutions, including ChinaPay and Union Mobile Pay, to operate third-party payment services. Most of the 13 institutions are located...

---

Credit offer

Business | Banking
2011-8-31

THE Industrial and Commercial Bank of China and the Bank of Communications will each offer 20 billion yuan (US$3.1 billion) to Shanghai's Zhangjiang High-Tech Park to support the park operator and the high-tech companies...

---

Overseas banks see firm profit growth

Business | Banking
2011-8-31

OVERSEAS banks in Shanghai posted strong growth in profits for the first six months of this year because confidence recovered following the end of the global financial crisis, the local banking regulator said yesterday. ...

---

China's banks secure from the storm

Business | Banking
2011-8-31

SINCE the beginning of August, a new wave of the international financial crisis has battered world markets. The International Monetary Fund's managing director, Christine Lagarde, noted in her speech at the Jackson...

---

Partnership grows

Business | Banking
2011-8-30

THE online payment unit of China UnionPay, the country's sole bank card transaction firm, has teamed up with 85 domestic commercial banks since its launch in June. It has also connected with major domestic online...

---

Bank deal to ride out crisis

Business | Banking
2011-8-30

ALPHA Bank SA, Greece's third-largest lender, will acquire EFG Eurobank Ergasias SA to create the nation's biggest lender as the firms seek to ride out a deepening recession and the country's sovereign debt crisis. ...

---

BofA to sell half of CCB stake

Business | Banking
2011-8-30

BANK of America Corp has agreed to sell about half its stake in China Construction Bank Corp for a US$3.3 billion gain as the largest United States lender bolsters capital ahead of new international standards. A...

---

Margin deposits as reserves

Business | Banking
2011-8-27

CHINA has ordered banks to include their margin deposits in required reserves at the central bank to mop up excessive liquidity, banking sources said yesterday, the latest move in the country's campaign to rein in...

---

ICBC, AgBank post record profits in H1

Business | Banking
2011-8-26

THE Industrial and Commercial Bank of China and the Agricultural Bank of China Ltd yesterday reported record first-half profits on better pricing power for loans and dismissed rising concerns over loans to local governments. ...

---

Buffett pumps US$5b in BofA

Business | Banking
2011-8-26

WARREN Buffett will invest US$5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. BofA shares rose...

---

Further growth seen

Business | Banking
2011-8-25

STANDARD Chartered Plc's mainland business has expanded at a faster pace than its global growth in the first half of this year and the bank will grow its consumer banking business in the country in the second half,...