Banking and financial services
Major banks
As inflation rises, Myanmar's Central Bank aims at monetary tightening
The Central Bank of Myanmar plans to tighten monetary policy to counter inflation, though at the request of banks has extended the deadline to meet a new reserve requirement ratio until January, said senior officials. Amid signs of overheating, the Central Bank has been holding deposit ...
China's role in promoting regional connectivity appreciated: Thai official
Thailand appreciates China for its constructive role in promoting regional connectivity through various initiatives including the establishment of the Asian Infrastructure Investment Bank and the launch of the 21st Century Maritime Silk Road, a senior Thai official said. “We believe that effective connectivity would help promote ...
Krungthai Bank nears B100bn deal
The Finance Ministry plans to acquire the entire 55% stake in Krungthai Bank held by the Financial Institutions Development Fund (FIDF) in a deal worth 100 billion baht. The acquisition would pave the way for transferring the 12 corporatised state enterprises as planned to a holding company ...
Local banks draw foreign interest
Vietnamese commercial banks expect to attract foreign investment in their newly-established financial companies thanks to the profitable domestic consumer financial market, according to Dau tu (Investment) newspaper. Despite concerns by shareholders, banks have still tried mergers and acquisitions (M&As) with ailing financial companies, whose non-performing loans ...
China ratifies Asian Infrastructure Investment Bank agreement
China’s top legislature today ratified the Asian Infrastructure Investment Bank (AIIB) agreement, that will set out legal framework for the USD 100 billion-bank in which India and 56 other countries are founder members. Lawmakers voted on the agreement at the closing meeting of the bimonthly session ...
Bank of Thailand seeks better investment return
The Bank of Thailand is considering a plan to expand categories of asset class investment in order to manage its foreign reserves more effectively, says the Bank of Thailand governor. “If we can find an asset class that could yield greater management of foreign reserves, result in ...
Myanmar Central Bank will not return to old ways: senior official
Amid widespread anxiety over the impact of the Myanmar Central Bank’s decision to revoke thousands of US dollar accepter and holder licences, a senior official has promised authorities have no plans to return to old ways. For many years – until 2011, when six commercial banks opened ...
GH Bank's cheap loans a success
Potential mortgage borrowers lined up for the government’s 10 billion baht in cheap loans at all branches of state-owned GH Bank on 19 October, the first day of the scheme. Keep reading ...
Ready or not, ASEAN economic integration coming, warns banker
“The Philippines is an attractive market without a means to compete,” according to BDO Unibank Inc. president Nestor Tan, expressing worry that Philippine banks are not ready to compete with the bigger banks of neighboring countries with the establishment of the ASEAN Economic Community. Keep reading ...
Thailand, ADB join hands for Mekong subregion development
The Asian Development Bank (ADB) and Thailand signed a memorandum of understanding on 15 October, aiming to support economic development programmes mainly in countries along the Greater Mekong Subregion. Keep reading ...
