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  • April 19, 2014
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  1. Business - Banking & Finance - SECURITY

    Xi Jinping's security commission to also tackle financial industry

    Posted Jan 28th 2014, 04:30am by George Chen, Teddy Ng

    ... banking system, rocking the stock market and affecting local investors' confidence in the mainland's economic development. Another case involved the virtual currency bitcoin, in which the mainland's central bank has already banned domestic financial institutions from trading. Beijing is also worried the tapering off of the US Federal Reserve's bond-buying programme may add ...

  2. Successive European scandals shock Chinese banks

    Posted Aug 08th 2012, 12:00am

    ... George Chen george.chen@scmp.com Rapidly escalating scandals involving several major international banks in recent months have shocked not only shareholders but also Chinese banks that consider the likes of HSBC and Standard Chartered Bank among the best models of internal control and risk management. This week, London-headquartered Standard Chartered became the latest financial ...

  3. HK bronze worth more than US gold thanks to bank deal

    Posted Aug 08th 2012, 12:00am

    ... than a third of what the Hong Kong track cyclist will get. When Lee returns home, she will get a golden handshake from Hang Seng Bank, whose incentive award scheme for the Olympics has promised ... taxes on their prize money. The bank's generosity must be lauded. Yet, I doubt they would be so open-handed if Hong Kong was a true power like the US. Just imagine the bill if we came home ...

  4. Temasek puts its faith in mainland banks

    Posted Jun 22nd 2012, 12:00am

    ... May Chan may.chan@scmp.com Singaporean sovereign wealth fund Temasek says the big mainland lenders should be able to weather recent rate liberalisation but warns that the banks, in which it is a key stakeholder, face a lower return on equity. Temasek president Gregory Curl told a conference yesterday that the 'big four' mainland banks- Industrial and Commercial Bank of China ...

  5. Business - Banking & Finance - STOCKS

    Time to buy, StanChart tells local bargain-hunters

    Posted Apr 12th 2013, 12:00am by Jeanny Yu

    ... Standard Chartered Bank says. Investors should not miss the chance to buy during the dip, as the Hang Seng will enjoy a strong rebound in the second half and is likely to climb as high as 28,000 points by the end of the year, said Will Leung Chun-fai, head of investment strategy at the bank's wealth management unit. The Hang Seng Index was the worst performing developed-world stock ...

  6. Banks pump up talent pipeline

    Posted Apr 21st 2012, 12:00am

    ... John Cremer Anatural discretion precludes private banks from making big statements about their plans for expansion or pushing into new markets, but it is no secret their eyes are now ... the existing customer base and provide the support and product knowledge all clients will rightly expect. In scaling up, rather than taking on occasional recruits or replacement hires, the banks ...

  7. Tide turns on bank tie-ups

    Posted Mar 21st 2012, 12:00am

    ... George Chen and May Chan Citigroup's declaration of its plan to sell its entire stake in Shanghai Pudong Development Bank (SPDB) has cast the spotlight on the withering of the so-called 'strategic partnership' between Chinese and foreign banks. The United States bank is not the first foreign lender to invest in a Chinese bank, but Beijing saw the Citigroup-SPDB ...

  8. Fraudsters offer fake inheritance in bank cash scam

    Posted Mar 25th 2012, 12:00am

    ... Simon Parry Letters claiming to come from a Hong Kong-based director of one of the mainland's biggest banks are trying to lure victims into a cash scam with the promise of a share in a fictitious US$12.2 million fortune. Personalised letters sent by post to people in the United States and Britain are signed Wei Ding Xiang, who falsely claims to be a director of the private banking ...

  9. Plan for major banks to cut share dividends

    Posted Feb 03rd 2012, 12:00am

    ... Celine Sun in Beijing and George Chen Three of the mainland's Big Four banks look poised to slash their shareholder dividends this year to conserve capital, according to people in the financial industry. The sources said Central Huijin Investment, which is the banks' controlling shareholder, was in talks with the lenders on a proposal to cut their dividend payout ratio ...

  10. Banks under fire for misusing client data

    Posted Dec 16th 2011, 12:00am

    ... Chris Ip chris.ip@scmp.com The privacy watchdog highlighted a series of personal data violations at some of the city's leading banks yesterday in a move intended to warn the industry to shape up. Hang Seng Bank and Citic Bank International were among the financial institutions singled out for years of mishandling customers' data. The banks were held up as examples to show ...




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