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  • September 19, 2014
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  1. Profits up at HSBC's mainland branches

    Posted Apr 07th 2004, 12:00am by Jane Moir

    ... Jane Moir HSBC Holdings saw profits at its mainland branch operations double last year, with net profit up 108 per cent to 324.7 million yuan. The bank cited strong growth in customer deposits and loans for a 33 per cent increase in net interest income to 468.6 million yuan. Deposits were up 136 per cent to 23.4 billion yuan, while loans net of provisions were 21.3 billion yuan, ...

  2. CCB diversifies with stake in Hefei trust firm

    Posted May 23rd 2008, 12:00am by Staff Reporter

    ... investment-savvy deposit customer base,' Credit Suisse said. 'This places CCB well in a bull market but exposes the bank to more risk when a market correction sets in.' Xingtai Trust ... Natalie Chiu China Construction Bank Corp, the country's largest property lender, is ready to buy a controlling stake in Hefei Xingtai Trust to diversify its business and lessen its ...

  3. Ping An Trust targets quality properties

    Posted Feb 23rd 2009, 12:00am by Staff Reporter

    ... scrutiny by the industry watchdog. Insurers are currently only allowed to invest in bank deposits, government and financial bonds, stocks, securities-oriented funds and in non-listed companies ... their investments from January to November last year, down more than 60 per cent year on year. The Shanghai Composite Index lost 65 per cent in the same period. Of the investment, 84.4 per cent was in bank ...

  4. Money-market funds approved

    Posted Dec 12th 2003, 12:00am by Staff Reporter

    ... with low fees, money-market funds are considered a higher-yield alternative to bank deposits. With low domestic interest rates and stock indices that have been among the worst performing ... securities and banking regulators, analysts said. 'This is an important step forward in the development of the investment industry in China,' ING Investment Management Asia-Pacific chief ...

  5. Lenders pin growth hopes on premiums, fee-based income

    Posted Jul 29th 2004, 12:00am by Staff Reporter

    ... given that an imminent interest-rate rise could lead some bank customers, who had originally chosen short-term investment-linked insurance policies as an alternative to time deposits, to seek ... Kelvin Wong Diversified banks count on other revenue streams to make up for thin margins A robust surge in insurance and other fee-based income offsetting weak net interest margins ...

  6. In Brief

    Posted Feb 27th 2004, 12:00am by Staff Reporter

    ... Yuan services first for HSBC's shanghai branch HSBC has become the first foreign bank to offer yuan banking services to domestic companies in China. It launched the new service at its Shanghai branch yesterday. HSBC, Citibank, Bank of East Asia and Mizuho Corporate Bank were given the go-ahead to carry out yuan banking business with mainland firms on the mainland. Meanwhile, ...

  7. Convoy ready to grow despite difficult times

    Posted Feb 10th 2009, 12:00am by Enoch Yiu

    ... a regulatory proposal that will ban banks from selling investment products over deposit counters. 'Product providers no longer consider banks as the major distribution channel. It's a good ... banks. The move follows a decision to reduce basic management salaries by at least 20 per cent. Meanwhile, chairman Quincy Wong Lee-man (right) and chief executive Rosetta Fong Sut-sam ...

  8. Cargo carriers bank on booming markets in Asia to fuel growth

    Posted Dec 20th 2010, 12:00am by Charlotte So

    ... Charlotte So Airfreight carriers expect sustained strong demand for their services in the new year, following on a solid performance in 2010, as the global economy shows few signs of heading for a double-dip recession, industry operators say. Although hig ...

  9. New gold rush hits mainland

    Posted Dec 15th 2004, 12:00am by Mark O'Neill

    ... in simple bank deposits. This year thousands have reduced or closed their US dollar savings accounts in favour of yuan-denominated accounts because they expect a revaluation of their currency. ... individuals can trade gold through state-owned banks. Bank of China and other financial institutions offer investment schemes that allow individuals to trade the metal over the phone and the internet. ...

  10. Swiss bank sets its sights on growth in regional markets

    Posted Apr 25th 2010, 12:00am by May Chan

    ... May Chan Few banks have emerged unscarred from the global financial meltdown, but Credit Suisse, which operates the second-largest private bank in Switzerland, remains resilient. Walter Berchtold, chief executive of Credit Suisse's private banking arm, is optimistic about the business. 'We expect an average growth in NNA [net new assets] of 6 per cent in our wealth ...




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