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Indonesia approves DBS purchase of Danamon stake

Agence France-PresseMay 21, 2013 12:15
Indonesia on Tuesday approved the purchase by Singapore's DBS of a 40 percent stake in Bank Danamon, but demanded the city-state open up its financial sector before any full takeover. More than a year after DBS launched its bid to make the biggest ever bank acquisition in Indonesia, central bank governor Darmin Nasution said it could acquire part of Danamon but could not yet take a controlling stake. "We will not give them more unless there is some reciprocity," he said, referring to demands that Singapore give Indonesian banks access to its market in return for the deal.

Goldman exits China's ICBC, seven years and billions later

May 20, 2013 06:30
By Fiona Lau and Elzio Barreto HONG KONG (Reuters) - Goldman Sachs <GS.N> launched on Monday the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China <1398.HK>, offering to sell its entire remaining stake in the world's biggest bank by market value.

HSBC may cut 14,000 more jobs as revenue faces pressure

May 15, 2013 15:31
By Lawrence White and Steve Slater HONG KONG/LONDON (Reuters) - HSBC <HSBA.L> will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue.

Regulators seize bank in North Carolina; brings this year' US bank failures to 11

The Canadian PressMay 10, 2013 21:00
WASHINGTON - Regulators say they have closed a bank in North Carolina, bringing the number of U.S. bank failures to 11 this year. The Federal Deposit Insurance Corp. on Friday seized Pisgah Community Bank, based in Asheville, N.C. The lender, which operated a single branch, had roughly $21.9 million in assets and $21.2 million in deposits as of March 31. Capital Bank, N.A., agreed to assume the deposits and $19.8 million of the failed lender's assets. The FDIC says it will retain the remaining assets for later disposition.

Swiss open criminal investigation linked to Spain graft scandal

May 8, 2013 18:03
By Emma Farge GENEVA (Reuters) - Swiss authorities have opened a money laundering investigation into a former treasurer of Spain's ruling party suspected of depositing millions of euros from bribes in Swiss bank accounts, the Geneva prosecutor handling the case said on Monday. Luis Barcenas, accused by Spanish authorities of abusing his position to secure bribes, evading taxes and laundering money, is at the heart of a growing corruption scandal that has hurt the conservative People's Party and Prime Minister Mariano Rajoy.

Brazil's Bradesco drops bid for Citigroup's Credicard: report

May 7, 2013 13:14
SAO PAULO (Reuters) - Banco Bradesco SA <BBDC4.SA> <BBD.N>, Brazil's second largest private-sector bank, has dropped plans to purchase Citigroup's <C.N> local consumer finance unit Credicard, a Brazilian newspaper reported on Monday. The decision leaves Itau Unibanco Holding SA <ITUB4.SA>, Brazil's largest bank by market value, as the main bidder for Credicard, O Estado de S.Paulo reported, citing sources close to the negotiations.

Sainsbury's in talks with Lloyds over Sainsbury's Bank control

May 7, 2013 12:58
LONDON (Reuters) - J Sainsbury <SBRY.L>, Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group <LLOY.L> to take full ownership of the Sainsbury's Bank joint venture. Sainsbury's statement was prompted by media speculation over the weekend. (Reporting by James Davey, Editing by Paul Sandle)

ADB keen to boost financial resources to promote growth

Kyodo News InternationalMay 4, 2013 09:15
The Asian Development Bank on Saturday pointed to the need to strengthen its financial resources to help Asia reduce poverty and achieve more economic growth as the region's financial chiefs gathered for the multilateral lender's annual meeting. The ADB's operations last year came to a total of around $22 billion including about $8 billion in co-financing, but the figure "still falls far short compared with the needs of the region," ADB President Takehiko Nakao said in his speech delivered at the start of its two-day meeting in India.

ADB stresses need to boost financial resources to promote growth

Kyodo News InternationalMay 4, 2013 06:00
The Asian Development Bank on Saturday stressed the need to strengthen its financial resources to help Asia reduce poverty and achieve more economic growth as the region's financial chiefs gathered for the multilateral lender's annual meeting. The ADB's operations last year came to a total of around $22 billion including about $8 billion in co-financing, but the figure "still falls far short compared with the needs of the region," ADB President Takehiko Nakao said in his speech delivered at the start of its two-day meeting in India.

BOJ's Kuroda stands ready to explain bold monetary policy

Kyodo News InternationalMay 2, 2013 11:00
Bank of Japan Governor Haruhiko Kuroda said Thursday he stands ready to explain the central bank's aggressive monetary easing policy to other Asian countries, amid concern it could have an adverse impact on their economies. "I am ready to provide sufficient explanation about it if our Asian neighbors have questions," Kuroda, who is currently visiting India for the Asian Development Bank's annual meeting, told reporters. "I hope to exchange opinions on the matter with each country."
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