Indonesia’s second largest lender, Bank Rakyat Indonesia (BRI, JSX:BBRI), is studying the acquisition of at least 51 per cent of Bank Bukopin (JSX:BBKP) to strengthen its share in small business credit market. If we acquire a bank we want at least 51 per cent stake to become the majority shareholder, Sofyan Basir, the president of [...]

Turkish lender Vakifbank will open a branch in the Iraqi city of Irbil by the end of the year. Suleyman Kalkan, director-general of the Vakifbank, told reporters, “we applied to the central government of Iraq to open a branch in Irbil. We have already received a prior approval. We are planning to open our branch [...]

16 August 2010 – First Midwest Bank, part of US bank holding company First Midwest Bancorp (NASDAQ:FMBI), said on Friday it has won the bidding for failed peer Palos Bank and Trust Company. Both Banks operate in the state of Illinois. The deal was assisted by the Federal Deposit Insurance Corp (FDIC), which will cover [...]

Australian Bank of Queensland (ASX:BOQ) has opened a residential mortgage-backed securities offer worth a minimum AUD750m (USD669.3m/EUR523m), Reuters reported on Monday, quoting one of the lead-managers. The Series 2010-2 REDS issue, seen to be priced by Thursday, will be handled by Deutsche Bank (ETR:DBK), National Australia Bank (ASX:NAB) and Royal Bank of Scotland (LON:RBS). The [...]

Speakers at a forum have underlined the need for promoting awareness on Islamic banking especially amongst the business community so that we have Islamic economy guaranteeing high rate of development and prosperity in the country. August 11 (THE NATION): The Islam strictly prohibits Riba (interest) in any mode of transaction. Any one linked to a [...]

South Korea will seek to sell a major state stake in Woori Finance Holdings Co. and controlling shares in its two banking units, a bailout watchdog said Friday, heralding the full-fledged start of privatizing the holding company. The Public Fund Oversight Committee said it has decided to unload “a certain amount of share or more” [...]

Patrick Burke has been appointed Chief Executive Officer of HSBC Finance Corporation, to lead the U.S. consumer finance division. In a release dated July 28, the Company said Burke’s appointment was effective July 12. He succeeds Niall Booker in this role; Booker was recently named CEO of HSBC North America Holdings, Inc. with effect from [...]

Kansas-City, Mo.-based UMB financial Corp. announced earnings for the three months ended June 30 of $23 million, or 57 cents per share (57 cents diluted). This is an increase of $4 million, or 20.9 percent, compared with second quarter 2009 earnings of $19 million, or 47 cents per share (47 cents diluted). Earnings for the [...]

BOK financial Corp. reported net income for the second quarter of $63.5 million, or 93 cents per diluted share, up from $60.1 million, or 88 cents per diluted share, in the first quarter and $52.1 million, or 77 cents per diluted share, for the second quarter of 2009. Net income for the six months ended [...]

Bay Bank, a subsidiary of Jefferson Bancorp, has entered into an agreement with the Federal Deposit Insurance Corporation, or FDIC, to assume the deposits and certain liabilities and purchase certain assets of Bay National Bank. The transaction was structured as a purchase and assumption without a loss sharing agreement with the FDIC. financial Services Partners [...]

The PING AN INSURANCE GROUP OF CHINA (SEHK:2318, SSE:601318) plans to expand its banking and investment business to account for 50 per cent of its total business in four or five years, said Yao Bo, deputy general manager of the Ping An Group said on Tuesday. Currently, Ping An’s insurance business contributes over 60 per [...]

Shenzhen Development Bank (SDB and SZSE: 000001), a nationwide commercial lender, announced suspension on the Shenzhen Stock Exchange from June 30 due to major asset restructuring in the evening on June 29. The bank recently gained approval from the China Securities Regulatory Commission (CSRC) to issue at most 379 million additional shares to Ping An [...]