Banks complete buyback, more coming?

Bank tellers sit in a branch office of the Industrial and Commercial Bank of China (ICBC) in Hong Kong. Photo: AP

New statements from two of China's top four banks indicate a recent share buyback by their state-owned controlling stakeholder is done, raising the question of just how effective the program was and whether we might see more similar buybacks soon.

Friday, 12 April, 2013, 5:30pm

Leaders of BRICS nations seen to launch a joint development bank

The grouping of Brazil, Russia, India, China and hosts South Africa will meet in Durban to set up an infrastructure-focused lender that would challenge seven decades of dominance by the World Bank.

The grouping of Brazil, Russia, India, China and hosts South Africa will meet in Durban to set up an infrastructure-focused lender that would challenge seven decades of dominance by the World Bank.

25 Mar 2013 - 6:12am

Hostages freed from Japan bank after police find captor sleeping

Japanese police raid the Zoshi branch of the Toyokawa Shinkin Bank to rescue hostages after a 12-hour standoff. Photo: AFP

Japanese police rescued four hostages from a bank yesterday and arrested the knife-wielding man who had held them captive for more than 12 hours while demanding the prime minister resign, officials said.

24 Nov 2012 - 3:11am

Incentive talk stops panic sell-off in Shanghai stock market

A reduction in the reserve ratio would free up cash that could be invested in the market, underpinning share prices.

The mainland stock market crashed through a psychologically important level yesterday before a rumour about an incentive policy helped it recover early losses to finish higher.

22 Nov 2012 - 4:08am

Occupy Central, it's time to pack up

Security guards record the number of Occupy Central protestors and their properties at the HSBC headquarters in Central on August 29, 2012. Photo: Dickson Lee

The real message from Occupy Central does not come from the protest group but from the way the rest of us have tolerated its antics. The remnants of the unruly, self-styled anti-capitalist gathering are facing eviction. Rest assured, though, they will not face the same brutal police tactics as their far more successful and worthy Occupy colleagues did in New York and London.

31 Aug 2012 - 10:21pm

Bank of China posts sharply lower profit growth

While BOC's bad loans fell 377 million yuan to 63.6 billion yuan in the first half, total overdue loans rose 17 per cent. Photo: Sam Tsang

Bank of China, the mainland's fourth-largest lender by assets, says profit growth slowed sharply in the first half of this year because of a weaker economy, regulatory changes and the absence of one-time gains that bolstered earnings last year.

24 Aug 2012 - 3:36am

Wuxi residents unsettled as police stage bank robbery for training exercise

Residents of Wuxi in Jiangsu province were left confused after police staged an armed robbery exercise at a bank on a crowded street in the city without first informing the public.

People became alarmed after they saw two knife-wielding "robbers" grab a bag of cash from a "citizen" outside the bank, hijack a car and speed away.

17 Aug 2012 - 4:17am

Occupy activists refuse to budge from HSBC

Occupy Central protesters say they will keep fighting to remain in a public walk-through area beneath HSBC's headquarters in Central, no matter how a court rules on the bank's request for an injunction.

15 Aug 2012 - 11:23pm


Friday, August 10: British Chamber of Commerce lunch: 'State secrets in China in 2012: A recap on the fundamentals and a look at recent developments'. British Consulate General.

Thursday, August 16: Hong Kong Securities Institute morning session: 'M&A transactions: A practical guide for banks and financial institutions'.

15 Aug 2012 - 11:15pm

Iranian bank waits it out in HK

One of the three Iranian banks named by the US regulator for illegal dealings with Standard Chartered Bank has been operating in Hong Kong for more than a decade but has been barred from taking new clients here since 2008.

The South China Morning Post yesterday visited the Hong Kong office of Melli Bank and found it was business as usual for the staff members.

15 Aug 2012 - 11:10pm

BEA losing steam on the mainland

Bank of East Asia, Hong Kong's fifth-largest lender by assets, posted higher first-half earnings but warned that the quality of its assets on the mainland was deteriorating and the spread was narrowing between the bank's cost of funds and its loan income.

15 Aug 2012 - 10:58pm

StanChart extends profit-growth run

Standard Chartered Bank will continue to invest and hire in the second half of this year, after posting record first-half profits for the 10th consecutive year.

Net profit rose 12 per cent to US$2.8 billion compared with the same period last year, boosted by growth across all regions except India, where non-performing loans jumped 2.5 times to US$649 million.

15 Aug 2012 - 10:51pm

HSBC bullish on China business

HSBC, Europe's biggest bank by assets, says it remains 'confident' about its growth in China as the outlook in Europe and other Western economies is expected to stay 'subdued'.

The bank, which yesterday reported a 11 per cent gain in first-half pre-tax profit, said demand from fast-developing markets including Hong Kong and mainland China would drive its revenue growth.

31 Jul 2012 - 12:00am

Let's give bad bankers a venue to admit their sins

Anyone who has typed the dots and dashes of an SOS distress call will appreciate the similarities to the present global race to cross the t's and dot the i's as we focus on the emergency response to the Libor rate-setting scandal.

25 Jul 2012 - 12:00am

HSBC's unhappy hunting ground

To its many Hong Kong shareholders and customers HSBC remains their bank and a pillar of society, even if its identity has now been globalised. They would have been dismayed, therefore, with the blemished image that emerged from Washington last week. The US has not been a happy hunting ground for HSBC, after a disastrous venture into subprime consumer loans. Now, the hunter is the hunted.

23 Jul 2012 - 12:00am