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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...

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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. ...

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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...

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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,...

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Standard Chartered H1 China growth trumps global growth

Business | Banking
2011-8-24

STANDARD Chartered PLC's Chinese mainland business has expanded at a faster pace than its global growth in the first half of this year. The company pledged to continue increasing and investing in its consumer...

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Banking clampdown

Business | Banking
2011-8-24

LIU Mingkang, chairman of China's Banking Regulatory Commission, yesterday said the regulator will prohibit bank loans from entering the stock market in an effort to enhance risk control for Chinese banks. Liu...

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Number of troubled US banks declines

Business | Banking
2011-8-24

THE number of troubled banks tracked by US bank guarantee agency the Federal Deposit Insurance Corp fell in the second quarter of this year, the first quarterly drop in five years. But growth in bank earnings...

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UBS will stay and invest in Asia-Pacific

Business | Banking
2011-8-24

THE Asia-Pacific region, including China, will continue to attract investment from UBS despite its plan to slash around 3,500 jobs globally, the Swiss bank's China branch said yesterday. Switzerland's biggest...

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Bank Sees 93% Of Local Loans Covered

Business | Banking
2011-8-23

CHINA Construction Bank yesterday said 93 percent of its local-government loans were covered by cash flow at the end of June as it sought to curb concern that the nation's US$2.7 trillion credit boom will drive up...

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CCB, BofA seek strategic pact

Business | Banking
2011-8-23

CHINA Construction Bank Corp, the world's second-largest lender by market value, yesterday said it's in talks with Bank of America Corp about a strategic cooperation deal after extending an existing pact to the end...

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Bank's net profit jumps 31%

Business | Banking
2011-8-22

CHINA Construction Bank Corp, the world's second-largest lender by market value, said first-half profit jumped 31 percent to a record as credit demand climbed. Net income rose to 92.8 billion yuan (US$14.5 billion),...

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Chinese firms borrow from HK banks

Business | Banking
2011-8-22

CHINESE companies are borrowing record amounts from Hong Kong's banks as the central government tries to bring the inflation rate down from a three-year high by reducing access to credit. Financial institutions'...

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Super European Finance Minister Needed

Business | Banking
2011-8-22

A European finance minister with sway over member states' taxes and budgets is needed to lead the eurozone out of its debt crisis, says the chief executive of Germany's second-largest lender, Commerzbank. "We...

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Banks fined for illegal service charges

Business | Banking
2011-8-19

THREE major commercial banks in China have been fined for charging illegally for the registration of lost passwords, China's National Development and Reform Commission said yesterday. Citic Bank and the Industrial...

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Stricter rules on bank ratios

Business | Banking
2011-8-16

CHINA'S commercial banks need to maintain their capital adequacy ratio at least 8 percent and their core adequacy ratio must not drop below 4 percent or they will face punishment, according to draft rules by the...