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  • August 22, 2014
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  1. Business - Banking & Finance

    Bank robbers out in the open

    Posted Aug 15th 2012, 12:00am by Kevin Rafferty

    ... finance of subprime and exotic mortgages continues to rely on another form of violence that is structurally similar to homicide and disturbing in its own right. Foreclosure on family homes, ... class." To objections that that's nothing like the way the modern financial sector is organised, he points out some uncomfortable similarities. "In residential-mortgage ...

  2. State banks cut rates for first-home buyers

    Posted Mar 14th 2012, 12:00am

    ... George Chen in Shanghai george.chen@scmp.com The mainland's big state banks and their smaller rivals in Shanghai have rapidly revived efforts to attract local mortgage clients, offering first-home buyers discount rates much lower than last year's industry average. The move comes at the same time as cashed-up Shanghai locals use a loophole in the mortgage approval ...

  3. Business - Banking & Finance - BANKING

    China Merchants rises in earnings and bad loans

    Posted Aug 18th 2012, 12:00am by Lulu Chen

    ... Lulu Chen lulu.chen@scmp.com Analysts say overall loan demand remained weak in the first six months of the year China Merchants rises in earnings and bad loans China Merchants Bank, the country's sixth-largest lender by market capitalisation, said ba ...

  4. Mainland bank loans may fall as liquidity tightens

    Posted Feb 03rd 2012, 12:00am

    ... May Chan may.chan@scmp.com Mainland banks' liquidity is likely to continue tightening in 2012 despite a recent cut in the reserve requirement ratio (RRR), and new loans may fall to 16.5 trillion yuan (HK$20.31 trillion), from an estimated 17.5 trilli ...

  5. MPF back on track after rebound

    Posted Feb 03rd 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com The stock market rally at the start of this year helped the city's pension fund turn around in January to record one of its best months after a disastrous year. The 429 funds registered in the Mandatory Provident Fund gai ...

  6. Price and rate cuts lift sales of homes

    Posted Mar 14th 2012, 12:00am

    ... Yvonne Liu yvonne.liu@scmp.com Property sales on the mainland climbed significantly this month amid a lowering of mortgage rates at banks and steep price cuts by developers at new ... from the previous month. Dickson Wong Hung, the chief executive at Centaline (China) for the north and southwest regions, said it had been difficult for home seekers to get mortgages last year ...

  7. Mainland bank earnings reach record 1.04tr yuan

    Posted Feb 20th 2012, 12:00am

    ... buyers at the 7.05 per cent benchmark rate, instead of 5 to 10 per cent above that. Average monthly mortgage payments are expected to fall to 7,783 yuan as a result, from 8,212 yuan previously. And for a 1 million yuan mortgage with a 20-year term, the rate cut would result in savings of about 100,000 yuan in interest costs. However, property agents say housing sales volumes are unlikely to rebound ...

  8. America the beautiful

    Posted Jun 18th 2012, 12:00am

    ... Mark Matthews If you Google the words 'Harbin Pharmaceutical Plant', you will find photos of a palatial interior. The facility has marble floors, paintings and chandeliers. This is a listed company, with a market capitalisation of about US$2 bil ...

  9. New credit set for first fall since 2008

    Posted Jun 06th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com New credit in the mainland could fall for the first time since 2008, amid a weakening real economy and banks' tightening liquidity. Ratings agency Fitch adjusted its estimate for total societal financing (TSF), a measure ...

  10. Slower growth to hit banks

    Posted May 31st 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The era of high growth among mainland banks is looking increasingly hard to sustain, and the amount of local government loans becoming due in the next two years could exacerbate the situation. Profit growth among the 17 mainla ...




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