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  • September 18, 2014
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  1. Air China angers activists over IPO deposit risk with parent

    Posted Dec 06th 2004, 12:00am by Annette Chiu

    ... with the 'non-bank finance company'. For the three years to the end of 2003, it deposited 2.35 billion yuan with CNAF. Air China has a 42.5 per cent stake in the lender. Its parent, China National ... deposit up to five billion yuan- more than 65 per cent of its initial public offering proceeds- with a firm that provides services to its parent has drawn fire from corporate governance activists. ...

  2. China Oilfield to deposit funds in sister finance firm

    Posted Oct 27th 2004, 12:00am by Eric Ng

    ... will be needed in the near term, then it should put it in a bank, or buy government treasuries,' he wrote. He said making such deposits is no different from making unsecured loans. China ... Zhong refuted Mr Webb's comment that depositing money with CNOOC Finance would pose unusual risks. 'CNOOC Finance is a China Banking Regulatory Commission-licensed financial ...

  3. Construction Bank buys AIG unit for US$70m

    Posted Aug 13th 2009, 12:00am by Staff Reporter

    ... insurance subsidiary, American International Assurance. AIG Finance operates as a restricted licence bank offering financial services including time deposits, mortgages, private car loans, premium ... Fulton Mak China Construction Bank Corp is buying a unit of financial conglomerate American International Group for US$70 million, its first acquisition outside the mainland in about three ...

  4. Lenders cut mortgage rates for select clients

    Posted Sep 01st 2008, 12:00am by Staff Reporter

    ... cost of smaller lenders would rise as they competed for deposits, which would make it difficult for them to reduce mortgage rates. Peggy Tam Lai-king, head of secured lending at Hang Seng Bank ... Maria Chan Hong Kong lenders will continue to offer select customers lower mortgage rates but are unlikely to cut home-loan rates across the board, say analysts. 'Banks still face ...

  5. Banks running out of cash as economy soars

    Posted Nov 07th 2010, 12:00am by Staff Reporter

    ... shareholder of state banks. As the economy grew and money deposits expanded, banks would have to lend out the money, which would generate a need to replenish capital, Li Jiange, vice-chairman ... higher than a year ago. Mainland banks rely on a homogeneous model- making profits mainly from the spread between stipulated deposit and lending rates under the domestic-administered interest ...

  6. No basis for bank run, HKMA says

    Posted Sep 25th 2008, 12:00am by Dennis Eng

    ... Dennis Eng Thousands withdraw BEA deposits; queues overnight; Rumours unfounded, say authorities; police called in; Bank's chief buying shares, and so is Li Ka-shing The Hong Kong ... Of course, there is also the deposit protection scheme,' he said. 'They should put their hearts at ease.' A senior government source said all banks in Hong Kong were financially sound. ...

  7. GE Money eyes bank to move into retail market

    Posted Oct 28th 2004, 12:00am by Staff Reporter

    ... to rival the likes of Citigroup and HSBC. Under Hong Kong Monetary Authority regulations, an RLB needs to accumulate a minimum of $3 billion in deposits in order to qualify as a licensed bank. RLBs face more stringent business limitations than licensed banks. For example, they can only take deposits with a minimum size of $500,000. The RLB banking segment is in decline. According ...

  8. HK banks refuse to join rate-cut spree

    Posted Dec 18th 2008, 12:00am by Enoch Yiu

    ... With savings deposit rates now close to zero, he said, any further cuts in lending rates would put pressure on banks' interest spreads. 'We have forecast the economic condition will be even ... dollar, to which the local currency is pegged. The move was widely criticised by analysts, who said the banks should have reduced interest rates to help Hong Kong's economy and ease ...

  9. Hang Seng Bank gets nod for yuan services

    Posted Mar 01st 2004, 12:00am by Ben Kwok

    ... has four mainland branches, including a sub-branch in Shanghai, offering foreign currency banking services to mainland companies and citizens. It also offers yuan deposits, loans, remittances ... Ben Kwok Hang Seng Bank has followed its parent HSBC to become the second bank offering yuan services to domestic companies in China. The No2 bank in Hong Kong yesterday said it had ...

  10. Small banks attract big yuan trade

    Posted Mar 04th 2004, 12:00am by Staff Reporter

    ... regulatory bodies to relax the daily yuan deposit limit. Mr Or earlier questioned the smaller banks' strategy of offering higher interest rates to attract yuan depositors. He said HSBC would ... Kelvin Wong Most of Hong Kong's smaller banks are satisfied with the number of new yuan accounts being opened each week after they were introduced to the city. The bigger players, ...




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