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  • April 16, 2014
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  1. Business - Banking & Finance - BANKING

    Hong Kong banks vie for edge in yuan deposits with high rates

    Posted Apr 09th 2014, 11:14am by KANIS LI

    ... in yuan deposits with high rates Hong Kong banks are stepping up efforts in the battle for yuan deposits with high interest rate promotions in the currency, which has fallen the most among Asian units this year. The banks include HSBC, DBS, Wing Hang Bank and China Citic Bank International. HSBC is offering one-month deposits at 3.8 per cent per year, the highest among the lenders. ...

    http://www.scmp.com/business/banking-finance/article/1470983/hong-kong-banks-compete-offer-better-terms-yuan-depositors
  2. Business - Banking & Finance - BANKING

    Hong Kong banks battle for deposits earlier this year

    Posted Mar 14th 2014, 10:12am by KANIS LI

    ... comes early for HK A regulatory directive that banks in Hong Kong fund the loans they make with deposits of longer tenure has spurred the lenders to begin their annual battle for deposits ... rates on deposits in the second quarter to tidy up balance sheets by the end of June. But lenders including Bank of China (Hong Kong), Bank of East Asia, China Citic Bank International, Fubon ...

    http://www.scmp.com/business/banking-finance/article/1448405/hong-kong-banks-battle-deposits-starts-earlier
  3. Business - Banking & Finance - BANKING

    China's nervous savers show need for deposit insurance

    Posted Mar 29th 2014, 01:13am by Reuters

    ... Reuters in Singapore Mainland government expected to complete law on protection soon, after recent bank run Nervous savers show need for deposit insurance This week's run on a small ... deposits now with the noise of recent bank runs and corporate defaults," said Mike Murphy, managing director and restructuring specialist at Alix Partners. Onshore market players now expect ...

    http://www.scmp.com/business/banking-finance/article/1459895/chinas-nervous-savers-show-need-deposit-insurance
  4. Business - Banking & Finance - BANKING

    China's rural bank struggles to attract deposits

    Posted Nov 25th 2013, 03:52am by JANE CAI

    ... Jane Cai in Qichun, Hubei xuejun.cai@scmp.com BOC Fullerton cites lack of working-age people in county, but urbanisation may lift hopes Mainland rural bank struggles to attract deposits ... the lender was one of 1,000 rural bank outlets across the country set up since 2007 in response to Beijing's call to serve farmers and rural areas. A lack of deposits is a problem shared by many ...

    http://www.scmp.com/business/banking-finance/article/1364846/chinas-rural-bank-struggles-attract-deposits
  5. Business - Banking & Finance - BANKING

    China to set up deposit insurance to protect savings in banks as risks rise

    Posted Jun 24th 2013, 12:00am by JANE CAI

    ... of the world's second-largest economy. Under a deposit insurance system - already in place in more than 100 countries - commercial banks are required to deposit a portion of their funds into a deposit ... and to protect more than 99 per cent of deposit accounts. Outstanding deposits in banks on the mainland reached 102 trillion yuan at the end of last month, according to the central bank. In the early ...

    http://www.scmp.com/business/banking-finance/article/1267552/china-set-deposit-insurance-protect-savings-banks-risks
  6. Business - Banking & Finance - BANKING

    Rates climb as lenders scramble for deposits

    Posted Nov 04th 2013, 05:49am by KANIS LI

    ... are on the march in the city, especially among smaller lenders, as banks bid to attract more deposits before they finalise their financial statements for the year. Interest rates on Hong Kong time deposits ... at about 0.38 per cent. "Many of the small and medium-sized banks can offer as high as 1.25 per cent to the deposits that bridge to the year-end, if you are taking several millions of new ...

    http://www.scmp.com/business/banking-finance/article/1346785/rates-climb-lenders-scramble-deposits
  7. Business - Banking & Finance - BANKING

    Concerns over a collapse in China’s underground banking sector resurface

    Posted Apr 09th 2014, 10:07am by DANIEL REN IN SHANGHAI

    ... "deposit" money in underground banks again after learning a hard lesson about risks. "They offered a monthly interest rate of 2 per cent, and you didn't have to work because you could get ... Daniel Ren in Shanghai ren.wei@scmp.com Insolvency rumours lead to run on rural lender, raising questions about health of state-owned banks amid collapse of loan shark network Illegal ...

    http://www.scmp.com/business/banking-finance/article/1470868/concerns-over-possibility-collapse-chinas-underground
  8. Business - Banking & Finance - BANKING

    Second branch of Chinese bank swamped as depositors pull cash

    Posted Mar 27th 2014, 12:58am by Daniel Ren

    ... shouted at the depositors at the gate. "You don't have to withdraw money now … your deposits are safe." It was a sheer rumour. You don’t have to withdraw money now BANK OFFICIAL ... Daniel Ren in Yancheng ren.wei@scmp.com Depositors rush to another outlet of the lender in Yancheng hit by rumours over its solvency Second branch swamped in bank run A bank run ...

    http://www.scmp.com/business/banking-finance/article/1458020/second-branch-chinese-bank-swamped-depositors-pull-cash
  9. Business - Banking & Finance - BANKING

    Lenders boost deposit rates to attract funds

    Posted Jun 26th 2013, 12:00am by KANIS LI, Jeanny Yu

    ... Tight liquidity on the mainland and in Hong Kong has led to banks raising interest rates for deposits to attract funds. Citibank raised its rates by 0.2 percentage point yesterday. Citigold and Citibanking will pay 1.7 per cent and 1.5 per cent per annum, respectively, for new deposits of at least HK$10,000 for two months. Wing Lung Bank raised its rate to 1.23 per cent from ...

    http://www.scmp.com/business/banking-finance/article/1268918/lenders-boost-deposit-rates-attract-funds
  10. Business - Banking & Finance - BANKING

    Worried depositors descend on Jiangsu bank amid insolvency rumours

    Posted Mar 26th 2014, 05:29am by Daniel Ren

    ... loans at the Sheyang bank, but the official insisted its business operations were normal. According to its website, the Sheyang bank had deposits worth 12 billion yuan (HK$15.1 billion) last ... Daniel Ren in Shanghai ren.wei@scmp.com Bank run amid insolvency rumours In the latest sign of cracks appearing in the mainland's financial system, a rural commercial lender ...

    http://www.scmp.com/business/banking-finance/article/1457321/depositors-descend-jiangsu-bank-amid-insolvency-rumours

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