| //15-12-2009 |
On December 10, 2009 Vietnam local time, the Hanoi Branch of the Industrial and Commercial Bank of China successfully obtained a Financial Services Operating Permit issued by the State Bank of Vietnam……
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| //14-12-2009 |
The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of November 2009 include:
* Net new assets brought to the company by new and existing clients in November 2009 totaled $6.0 billion.
* Total client assets were $1.397 trillion as of month-end November, up 26% from November 2008 and up 4% from October 2009.
* Client daily average trades were 297.1 thousand in November 2009, down 27% from November 2008 and down 11% from October 2009.
CFO Joe Martinetto commented, “Our client metrics remain strong and our business continues to grow. Thus far in the fourth quarter, clients have brought us $15 billion in net new assets and opened 122,000 new brokerage accounts and 39,000 net new banking accounts, and total client assets reached $1.4 trillion by the end of November, up 26% from a year ago.”
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| //13-12-2009 |
Morgan Stanley (NYSE: MS) today announced that Gregory J. Fleming, 46, will join the Firm as President of Morgan Stanley Investment Management, including Merchant Banking. Mr. Fleming will also be responsible for Global Research. The heads of each of these businesses will report directly to him. He will serve as a member of the Operating Committee and report to James P. Gorman, who becomes Chief Executive Officer and President of Morgan Stanley in January. Mr. Fleming will be joining the Firm in February. Mr. Fleming previously served as President and Chief Operating Officer at Merrill Lynch. He currently serves as a senior research scholar and lecturer in law at Yale Law School.
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| //28-11-2009 |
Société Générale Corporate & Investment Banking confirms its leading position in export
finance with the prestigious Award for Excellence received from Global Trade Review
Magazine for the second consecutive year.
Named Best Global Export Finance Bank by its clients, this award is the recognition of the
export finance team's strong global network and innovative approach to addressing the
evolving needs of its clients.
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| //27-11-2009 |
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| //27-11-2009 |
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| //27-11-2009 |
CDFIs include credit unions, investment funds and niche banks that focus on low-income and disadvantaged communities. These local institutions have expertise in evaluating risk and lending and investing in small and micro businesses, charter schools, childcare centers, primary health care facilities, projects on Native American lands, and arranging pre-acquisition and development loans for low-income housing.
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| //27-11-2009 |
Overdraft fees are getting a lot of press lately. So, we want to be sure you have the facts.
For example, did you know you can't overdraw your account at an ATM, so you won't be surprised by an unexpected fee?
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| //27-11-2009 |
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| //25-11-2009 |
Deutsche Bank's award-winning electronic FX trading platform has launched the first FX options service that will automatically execute orders placed ahead of time at the required price. The new service, called AutobahnFX Option Orders, will cut FX options execution costs and increase efficiency by ensuring that clients achieve the exact price they want, without having to watch the screens or run the risk of missing the correct pricing target.
Deutsche Bank is the first major bank to offer such a service, which is an important development for thousands of institutional, banking and corporate users of FX options. Through an easy to use order screen, clients can place orders which when filled will help them to achieve preferable FX options level.
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| //25-11-2009 |
Despite the recession, the Swiss construction sector is still very active. This phase, however, now appears to be coming to an end. After commercial construction began turning down at the beginning of the year, only a recent surge in residential construction is preventing a sharper drop in structural engineering. A large volume of civil engineering work has maintained the momentum of the industry as a whole so far, but in the long run, civil engineering won't be able to take up the increasing slack in structural engineering, and the entire construction industry will be gripped by a downturn. Construction activity in Switzerland did in fact decline again in the fourth quarter. These are the findings of the new Swiss Construction Index, which today saw its public launch. The results of a venture between the economists of Credit Suisse and the Swiss Contractors' Association, the Swiss Construction Index provides a snapshot of the economic state of Switzerland's construction industry, thus closing a gap in the provision of economic data.
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| //25-11-2009 |
The report issued by Standard & Poor's (S&P) is not representative of UBS's capital position in relation to its peers.
The bank's risk-adjusted capital ratio (RAC) is estimated to be 7.1%, and not the 2.2% reported by S&P. Their report shows a RAC as of 30 June 2009 which does not take into account two important components of UBS's capital:
*
the CHF 6 billion mandatory convertible notes (MCNs) fully converted in August 2009
*
the CHF 13 billion MCNs due to convert by March 2010.
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| //25-11-2009 |
To kick off the holiday shopping season, Wells Fargo (NYSE: WFC) is offering tips to help consumers shop safely, whether in person or online.
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| //24-11-2009 |
Bank Ekonomi reported profit before tax of IDR359 billion (US$33 million) for the nine months to 30 September 2009, an increase of 55 per cent on the same period in 2008.
Net interest income for the nine months to 30 September 2009 increased by 36 per cent, or IDR176 billion (US$16 million), to IDR660 billion (US$62 million). This was driven by higher yields.
Non interest income for the nine months to 30 September 2009 increased to IDR74 billion (US$7 million) up 34 per cent or IDR19 billion (US$1.7 million) compared to the same period in 2008. This mainly resulted from an increase in fees from treasury product and gain on foreign exchange of IDR11 billion (US$1 million), increase in account service fees of IDR2 billion (US$0.2 million), and a gain on the sale of fixed assets of IDR6 billion (US$0.6 million)
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| //24-11-2009 |
Wells Fargo & Company (NYSE: WFC) said that Wells Fargo Bank, N.A. received an “Outstanding” rating – the highest rating possible – in its most recent Community Reinvestment Act (CRA) examination by the Office of the Comptroller of the Currency (OCC). Wells Fargo Bank, N.A., which serves more than 20 million retail households in 39 states and the District of Columbia, met and exceeded community needs in areas such as affordable housing, financial education and small business lending.
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| //24-11-2009 |
Standard Chartered has continued to make good progress during the third quarter of 2009, building on the record income and profits in the first half of the year. We continue to benefit from the growth opportunities across our broad and diverse franchise and our continued deliberate focus on capital and liquidity strength remains a source of competitive advantage.
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| //24-11-2009 |
The staff council and employer representatives of Credit Suisse Group in Switzerland have concluded the salary negotiations for 2010. The social partners agreed on a figure of 1% of the payroll as the sum available for individual and performance-related salary increases. Furthermore, the internal salary structures are being reviewed and in this regard an additional 1% of the payroll will be made available, as necessary. The salary adjustments will take effect as of January 1, 2010, instead of April 1 as previously.
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| //23-11-2009 |
HSBC Bank plc, a wholly owned subsidiary of HSBC Holdings plc, has agreed the sale of 8 Canada Square, Canary Wharf, London to the National Pension Service of Korea ('NPS') for £772.5 million in cash. As a result of the transaction, a gain of approximately £350 million will be recognised in HSBC's income statement on completion, expected to be before 31 December 2009.
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| //23-11-2009 |
On November 20, 2009, Malaysian local time, Industrial and Commercial Bank of China was granted the banking license from BANK NEGARA MALAYSIA, the central bank to open a subsidiary bank in Malaysia. The local bank to be established will be the first banking institution ICBC sets up in Malaysia, marking a significant breakthrough in ICBC's implementation of its globalization strategy. ICBC's application had been approved by China Banking Regulatory Commission previously.
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| //23-11-2009 |
FINCA International, along with Deutsche Bank, today announced that they have secured total capital commitments of $21.2 million for the FINCA Microfinance Fund B.V., the first-ever single microfinance network sub-debt deal. The fund, which has only private sector investors was about 100 percent oversubscribed and brings a new pool of investors to the microfinance industry.
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