China

The Indonesian bank to exploit growing business potential between Indonesia and China.

Moody's has assigned XacBank  a D- Bank Financial Strength Rating. The Mongolia-based bank also received a Ba3/NP for long- and short-term local currency deposit ratings; a B2 /NP for long- and short-term foreign currency deposit ratings; and a Ba3/NP for long-term local and foreign currency issuer ratings

Beijing supplied 12.63 million square meters of land for security housing projects and 1.64 million square meters for low-income housing.

The move enables Xinjiang companies to use renminbi to engage in business abroad, while allowing foreign companies make renminbi investment into Xinjiang companies.

ANZ invested another US$124.9 million in BoT to support the latter's strategic growth agenda.

Central Huijin to participate in ICBC’s move to replenish capital following successful attempts of the bank’s rivals.

Moody's upgraded the long-term ratings of three big policy banks in China to Aa3 from A1. The three banks are China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China. China Development Bank’s  long-term foreign currency senior unsecured debt rating was upgraded to Aa3 from A1. While Export-Import Bank of China’s long-term domestic and foreign currency senior unsecured debt ratings was upgraded to Aa3 from A1. On the other hand, Agricultural Development Bank of China’s long-term foreign currency was also issuer rating upgraded to Aa3 from A1. The action follows Moody's decision to upgrade China's long-term foreign currency sovereign rating to Aa3 with a positive outlook from A1. The banks' baseline credit assessments are also changed to 4 from 5, on a scale of 1 to 21, where 1 represents lowest credit risk. The action reflects Moody's view that the banks will continue to receive full support from the government as 100 per cent state-owned banks. Although the government has begun to initiate reforms to operate the banks more based on commercial interest, state ownership in these entities is not expected to change during Moody's rating horizon.  

BOC recorded a profit after tax of US$12.48 billion in the first three quarters of 2010, an increase of 27.48 per cent compared with the same period of 2009. The Bank of China achieved profit attributable to equity holders of US$11.9 billion, an increase of 27.70 per cent compared with the same period of 2009. As at 30 September 2010, The Bank's total assets amounted to US$1.52 trillion, an increase of 15.43 per cent compared with the prior year-end, exceeding US$1.5 trillion for the first time.

The lender is also looking at potential acquisitions in Europe and the Middle East aside from setting up branches.

The lender unseated ICBC behind Central Huijin’s unlocking of shares and its plan for a $9.2bln rights issue.

The lender also raised $3.75 billion from a September convertible bond sale to boost capital.

The bank targets its 1.5mln mobile banking users with monthly transaction value of $975.1mln.

The lender seen to follow its rivals’ move to raise more funds.

The lender has no immediate plan to buy a foreign company as central bank's recent move won't affect it much.

ABC’s private banking service was launched in 12 provinces and cities includes Beijing, Tianjin, Shanghai, Jiangsu, Zhejiang, Shandong, Hubei, Guangdong, Qingdao, Ningbo, Xiamen and Shenzhen.

Agricultural Bank of China Limited unveiled its shining "Golden Online" logo to launch its brand image. The launching of new image of ABC's e-Banking brand and its sub-brands marked the establishment of a complete and clear Golden Online brand series and further consolidated the market position of Golden Online as the most competitive and advanced brand in the sector. It will definitely initiate a new development mode for the marketing of e-Banking brands and lead the e-Banking into a new era of brand competition instead of service competition. For these years, ABC has always adhered to the market-led and customer-oriented philosophy and blazed new trials in a pioneering spirit to rapidly develop its e-Banking business. ABC's first self-service equipment was put into operation in Guangdong Branch in 1987 and its online banking business was formally launched in 2002. By now, ABC's e-Banking business has formed five transaction channels including online banking, telephone banking, mobile banking, television banking and self-service banking, and three service platforms including customer service center, portal site and SMS service, with over 120 million customers, and the channels accounted for 57.78%. Meanwhile, ABC has always been leading in the financial innovation by launching various financial services and actively researching financial products for tri-networks integration. ABC's e-Banking business has come into a new historical point after these years' development.