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  • September 16, 2014
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  1. Five more banks to provide yuan card services

    Posted Apr 07th 2004, 12:00am by Christine Chan

    ... Christine Chan and Kelvin Wong Five more local banks will begin settling yuan credit-card transactions in Hong Kong this month, and two of them plan to issue yuan credit cards to Hong Kong residents by July. Breaking a monopoly held by the Bank of China Hong Kong (BOCHK), the five banks- Hang Seng, HSBC, Standard Chartered, Bank of East Asia and DBS- signed an agreement with China ...

  2. Former bank boss faces US lawsuit

    Posted Mar 20th 2005, 12:00am by Staff Reporter

    ... Shi Ting Californian writ alleges Zhang Enzhao took US$1m bribe to scrap multimillion-dollar contract Former chairman of the China Construction Bank Zhang Enzhao, who stepped down amid ... Sunday citing 'personal reasons'. The bank gave an assurance that his departure would not affect its assets and liabilities. He was replaced by the mainland's foreign-exchange ...

  3. HSBC acquires Marks & Spencer's banking unit for $11b

    Posted Jul 13th 2004, 12:00am by Louis Beckerling

    ... (HK$11.04 billion). The world's third-largest bank by market value is negotiating a similar-sized bid for a stake in China's Bank of Communications, and is also reported to be vying ... transformational acquisition with Household International, and is now filling out its higher-yielding consumer business on an opportunistic basis,' JP Morgan bank analyst Craig Turton said. US ...

  4. Schroders to link up with Bocom

    Posted Jun 04th 2005, 12:00am by Jamil Anderlini

    ... will encourage domestic lenders to begin channeling money away from bank deposits and into the ailing equity markets. The nation's stock markets, which suffer from a shortage of institutional ... deposits. Credit Suisse First Boston is also awaiting government approval to set up a fund management company with the nation's biggest bank, ICBC, and China Cosco Holdings, the country's ...

  5. Angang denies plans to invest in Liaoning deposit

    Posted Jun 27th 2009, 12:00am by Carol Chan

    ... Carol Chan Angang Steel said yesterday the company and its state-owned parent had no plans to invest in the Benxi iron ore mine to exploit a newly discovered deposit that local officials ... based in Liaoning province, the home of the new find, would invest in the deposit. In a statement filed with the Hong Kong and Shenzhen stock exchanges, Angang said the company and its parent ...

  6. BEA reports 61pc earnings jump to record HK$4.3b

    Posted Feb 16th 2011, 12:00am by Lulu Chen

    ... On the mainland its net interest margin was 2.29 per cent. By the end of last year the bank's mainland division managed to lower its loan-to-deposit ratio to 78 per cent. It expects to meet China's requirement of a loan-to-deposit ratio below 75 per cent before the December 31 deadline. 'Once the bank fulfils the mainland's loan-to-deposit ratio requirement, it will have ...

  7. Big hurdles still block yuan from going global

    Posted Oct 11th 2010, 12:00am by Enoch Yiu

    ... or lend to them, but not all banks have enough yuan deposits to lend out. 'For the yuan business to take off, we need to develop yuan lending,' Lam said. 'If banks who lack yuan ... of yuan-denominated deposits, insurance products, bonds and funds. Now the stock exchange wants to take it one step further and to hold yuan-denominated initial public offerings (IPO) next year. Charles Li ...

  8. CCB aims to take on strategic investor with 10pc stake

    Posted Apr 21st 2005, 12:00am by Staff Reporter

    ... third-largest commercial lender by loans and deposits. At present, it is in talks with JP Morgan Chase and Bank of America- two of the largest banks in the United States- for a deal worth as much ... Bei Hu State-held lender co-pilots efforts to reform sector and erase memories of bad loans, poor management China Construction Bank hopes to sell a stake of up to 10 per cent to a single ...

  9. Hong Kong lenders not expected to follow any US rate reduction

    Posted Oct 27th 2008, 12:00am by Staff Reporter

    ... per cent, say bankers. 'It's highly unlikely that banks here will cut their prime lending rates,' said Benjamin Hung Pi-cheng, the chief executive of Standard Chartered Bank (Hong Kong). He said prevailing high funding costs on the interbank market left little room for banks to lower their lending rates. Citing market analysts, Agence France-Presse reported ...

  10. The end of Wall Street as the bankers knew it

    Posted Sep 16th 2008, 12:00am by Tom Holland

    ... Lynch chief executive John Thain doubted whether his investment bank could survive the probable damage, prompting him to clinch a US$50 billion deal with Bank of America. Other banks are worried ... that should help Wall Street's remaining investment banks overcome any temporary liquidity problems. Whether they will able to survive in their present form over the longer term is doubtful, ...




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