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  • August 31, 2014
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  1. Business - Banking & Finance - BANKING

    China's nervous savers show need for deposit insurance

    Posted Mar 29th 2014, 01:13am by Reuters

    ... Reuters in Singapore Mainland government expected to complete law on protection soon, after recent bank run Nervous savers show need for deposit insurance This week's run on a small ... The panic soon spread to other branches in the area, which by Wednesday were exhibiting stacks of cash to try to calm depositors. "It is logical that the Chinese government wants to insure bank ...

  2. Business - Banking & Finance - BANKING

    HSBC blames red tape for 12 per cent drop in profits

    Posted Aug 04th 2014, 04:59pm by DON WEINLAND

    ... years, particularly over its sales of payment-protection insurance in Britain. Redress remains a significant drag on profit growth in the retail and wealth management business, which accounts ...

  3. Business - Banking & Finance - BANKING

    Citigroup to pay US$7b in settlement on US subprime mortgage fiasco

    Posted Jul 15th 2014, 01:36am by AP

    ... and the Federal Deposit Insurance Corporation (FDIC). The bank will provide US$2.5 billion in consumer relief, which will include financing for affordable housing. "The comprehensive settlement ...

  4. Business - Banking & Finance - BANKING

    Citibank upbeat on insurance fee income growth

    Posted May 06th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Surge in take from yuan-denominated products and planned new offerings fuel the optimism Citibank upbeat on insurance fee income growth Citibank said its first-quarter new premium income from yuan- denominated insurance products sold in Hong Kong more than doubled from the previous quarter and was up 30 per cent on the same quarter a year ago. Emily ...

  5. Business - Banking & Finance - BANKING

    Bank defaults viewed as dark side of deposit vows

    Posted Apr 22nd 2014, 12:46am by BLOOM

    ... Bloomberg in Shanghai Bank defaults viewed as dark side of deposit vows Premier Li Keqiang's plan to introduce deposit insurance is meant to comfort the mainland's savers as bad ... are in place, said Kwong Chung Li, the chief executive of China Lianhe Credit Rating. "With the deposit insurance coming … the government is signalling they may be willing to let some ...

  6. Business - Banking & Finance - BANKING

    China to set up deposit insurance to protect savings in banks as risks rise

    Posted Jun 24th 2013, 12:00am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Deposit insurance scheme could be set up this year, as financial system faces risks associated with interest rate liberalisation, slower growth Beijing pushes plan to protect savings deposits The mainland is poised to have a deposit insurance scheme, after extensive discussions over nearly two decades. The system, which will provide ...

  7. Business - Banking & Finance - BANKING

    Credit Agricole back in profit as Europe recovers

    Posted Feb 20th 2014, 01:16am by BLOOM

    ... in France and from insurance. The bank, led by chief executive Jean- Paul Chifflet, has trimmed its balance sheet since mid-2011 and returned to an annual profit last year after two consecutive ... Credit Agricole's French regional banking networks increased 9.5 per cent to €230 million in the fourth quarter, helped by higher revenues, it said. Revenue at its insurance business also ...

  8. Business - Banking & Finance - BANKING

    Beijing edges forward on easing rates controls

    Posted Nov 15th 2013, 03:10am by JANE CAI

    ... 2015 and 2017, when deposit rates are market-determined and a deposit insurance system is in place. A deposit insurance system could be ready in a year, according to Wu Xiaoling, a former PBOC vice-governor. Under the system, banks pay premiums and depositors are compensated when a bank collapses. Although technically ready, the launch of the insurance scheme could still take time, economists ...

  9. Business - China Business - BANKING

    Growth in China's trust sector slows amid curbs

    Posted Feb 14th 2014, 12:57am by Reuters

    ... investing the proceeds in a range of assets, including loans, private equity and listed securities. Trusts overtook insurance companies last year to become the largest holder of financial assets ...

  10. Business - Banking & Finance - BANKING

    Mortgage provisions push RBS further into the red

    Posted Jan 29th 2014, 05:02am by Bloomberg

    ... insurance on loans they did not require, £500 million for clients wrongly sold interest-rate-hedging products and a further £200 million for legal expenses, the lender said. That brings the total RBS has set aside to compensate clients mis-sold payment protection insurance to £3.1 billion, putting it third among British banks after Lloyds and Barclays. RBS said that rather than ...




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