Tag: banks

Business Moves

Vietnam's Sacombank opens branch in Cambodia

The bank will target individuals and companies doing cross-border business in the Indochina region.

By Lara Wozniak | 25 June 2009

People Moves

Citi veteran and respected Asia-Pacific CEO Ajay Banga departs to take on the top job and a guaranteed package at MasterCard, adding further to the woes of the struggling US bank.

By Sameera Anand | 22 June 2009

View Point

Mergers overdue in UAE banking sector

The sector is headed for a round of consolidation, but how and when this will happen is still unclear.

By Edward Russell | 17 June 2009

M&A

Ping An to invest in Shenzhen Development Bank

The Chinese insurance giant moves nearer to its goal of becoming an integrated financial services company, and gives private equity investor Newbridge Capital an exit route.

By Daniel Inman | 15 June 2009

Equities

Goldman Sachs sells ICBC shares

The US investment bank raises $1.9 billion by selling close to 20% of its stake at a 4.5% discount, just over a month after the lockup expired.

By Anette Jönsson | 2 June 2009

Equities

Bank Danamon shareholder sells $60 million of stock

The shares in the Indonesian bank change hands at three times the price of last month's rights issue. Meanwhile, Chinese carmaker Geely and its chairman attempt to raise a ...

By Anette Jönsson | 20 May 2009

Equities

Other sellers of CCB shares emerge

One institutional seller raises $474 million in the early hours of Wednesday morning, while another undisclosed party offloads up to $124 million worth of stock during trading ...

By Anette Jönsson | 14 May 2009

Equities

Bank of America sells CCB shares in private deal

Sources say the shares changed hands at a 14.3% discount to Monday's close, allowing Bank of America to raise $7.3 billion, although the US lender has yet to confirm the deal.

By Anette Jönsson | 13 May 2009

Equities

DBS exits non-core investment in HDFC Bank

The Singapore bank raises $265 million from the sale of shares in the Indian lender as it continues to strengthen and streamline its balance sheet.

By Anette Jönsson | 11 May 2009

View Point

The rise and rise of ICBC

Moody's discusses some of the characteristics of the world's largest bank.

By Daniel Inman | 6 May 2009

Equities

Allianz and Amex sell half their ICBC shares

The pre-IPO investors sell shares through a privately negotiated deal that is completed hours after their lockup expires. Goldman Sachs retains all its shares for now.

By Anette Jönsson | 29 April 2009

Debt

Taiwan bank launches tender for subordinated bonds

Cathay United Bank is offering to buy back up to $125 million of its sole international bond at a discount.

By Anette Jönsson | 15 April 2009

Debt

Hana Bank issues $1 billion three-year bond

The Korean lender is the first to attach a government guarantee to a bond issue, ensuring tight pricing and strong demand for the global offering.

By Rupert Walker | 3 April 2009

Equities

Goldman to keep 80% of ICBC stake – for now

Under the initial agreement, the US bank would have been able to sell half its 4.93% stake from April 28.

By Anette Jönsson | 26 March 2009

View Point

Saving banks is part of the problem, not the solution

As GDP shrinks around the world, it's time to prioritise the real economy over the banks.

By Dan Slater | 23 March 2009

Equities

CapitaLand rights issue oversubscribed

Temasek takes up its 39.7% entitlement, but CapitaLand completes the deal without calling on underwriters. Meanwhile, Shinhan sets the price for its rights issue at a 25% discount.

By Anette Jönsson, Daniel Inman | 16 March 2009

Business Moves

US government to hold up to 36% of Citi

The bank aims to convert an additional $27.5 billion of preferred shares held by non-government investors, making an offer that's hard to refuse.

By Anette Jönsson | 2 March 2009

Equities

Bank Danamon outlines $335 million rights issue

The Indonesian bank, which is two-thirds owned by Temasek, offers new shares at a 55.6% discount to yesterday's close, although the deal won't open until early April.

By Anette Jönsson | 20 February 2009

View Point

European banks hint at prolonged crisis

Profit updates reveal that Europe’s banks face renewed challenges in 2009, leading to speculation of more capital-raising and a sharp deterioration in share prices.

By Anette Jönsson | 22 January 2009

View Point

Asia no longer a panacea for banks

The Asian commercial banking operations of global banks are losing their shine as the dislocation caused by the global recession impacts companies in the region.

By Sameera Anand | 21 January 2009

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