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  • September 21, 2014
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  1. Home Credit China wins licence to extend business on the mainland

    Posted Nov 30th 2010, 12:00am by Staff Reporter

    ... into the previously legally grey area. After providing small credit loans to household appliance buyers for three years in Guangdong, the company acquired a licence earlier this year from China's banking ... domestic demand after the export sector was hit by the financial meltdown. The China Banking Regulatory Commission has given approval for Bank of China, Bank of Beijing and Bank of Chengdu to set ...

  2. 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 ...

  3. HSBC boosts presence with more village banks

    Posted Aug 31st 2009, 12:00am by Staff Reporter

    ... continue to fall. The village banks' operations are limited to taking only small deposits and making small loans. Since HSBC opened the first of the foreign-funded village banks ... offering insurance and corporate banking products in addition to small deposit and loan services. Aside from its current village bank network, HSBC now owns 89 outlets, including branches ...

  4. New lending by Chongqing bank stable

    Posted Mar 29th 2011, 12:00am by Sophie Yu

    ... Sophie Yu Chongqing Rural Commercial Bank, a big mainland lender to farmers and small businesses, said it expected to lend about another 20 billion yuan (HK$23.7 billion) in 2011, about in line with last year. In 2010, CRCB's gross loans grew about 20 per cent year on year, taking total loans to 122 billion yuan. Its total deposits grew 33.7 per cent to 206 billion yuan from ...

  5. Investors eye rural bank licence in Wenzhou

    Posted Oct 02nd 2008, 12:00am by Staff Reporter

    ... lenders which offer loan and deposit services to local enterprises and individuals. Nearly 30 rural banks have been opened so far. Residents in Wenzhou, a city in Zhejiang province, have been ... Investment Securities. 'But China has to fine-tune the rules and mechanism for village banks.' Analysts said the village banks should be able to set deposit and lending rates freely rather ...

  6. The Ascent of Money

    Posted Nov 16th 2008, 12:00am by Sean Kennedy

    ... of explaining how simply money supplies can come unravelled. He cites Harvard Business School, where first-year students watch while a 'notional' US$100 is deposited with a bank and then goes back into circulation. After three deposits, the US$100 has turned into US$271 (cash in circulation plus demand deposits). It is established banking practice, but it comes unstitched ...

  7. Latest yuan rush may not be a fast road to riches

    Posted Aug 15th 2010, 12:00am by Enoch Yiu

    ... curiously, is an early yuan enthusiast and has had a yuan deposit since 2008. 'The banks were then offering more than 3 per cent interest on 12-month yuan deposits- higher than what any Hong ... in simple yuan time deposits in 2004- when Hong Kong people were first allowed to have simple yuan deposits in banks- have made a killing as the yuan has been rising by an average of 20 per cent ...

  8. Outsider bank wins breakthrough licence

    Posted Aug 20th 2003, 12:00am by Mark O'Neill

    ... As of June 30, Hang Feng had assets of 17.53 billion yuan, deposits of 12.15 billion yuan and loans of 8.52 billion yuan. The bank has 80 branches in the 13 districts of Yantai, on the northeast ... employees deposited a portion of their wages and in exchange could borrow money to buy homes. This affected the business of the bank. In 2000, the bank applied to Beijing to increase its capital ...

  9. Mainland banks edge closer to funds sector access

    Posted Jun 29th 2004, 12:00am by Mark O'Neill

    ... But mainland banks have been kept out of the party, even though they are flush with cash. They hold 20 trillion yuan on deposit, 11.9 trillion from individuals and 8.02 trillion from companies. ... CBRC considers request to let local lenders into lucrative market, writes Mark O'Neill in Shanghai Years of lobbying by mainland banks could be about to pay off, with strong signs ...

  10. Scandal-hit BOC moves to tighten internal controls

    Posted Feb 03rd 2005, 12:00am by Staff Reporter

    ... Bei Hu Grappling with yet another scandal, the Bank of China announced yesterday that it would combine its investigative and internal audit divisions to form a more independent ... as 1 billion yuan of corporate deposits. So far, more than 20 people have been implicated in the case, which the China Youth Daily says involves at least 839 million yuan, with the amount likely ...




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