Regional/ international

UK’s Financial Services Authority has requested Deutsche Bank to pay about $2.4 million in compensation to 8,000 mortgage customers in the UK for failing to determine if the customers were able to afford the mortgages. The financial regulator has also fined the bank $1.35 million for the misconduct.

German authorities are conducting tax evasion raids on Credit Suisse offices in Germany, with a total of 8 bank employees now being investigated.

Middle East

Qatar’s QNB Group has acquired the controlling stake in Indonesia’s Bank Kesawan following the conclusion of a rights issue.

Bahrain’s First Energy Bank has named Khadem Abdulla Al Qubaisi as its new chairman, replacing Esam Janahi.

UAE’s National Bank of Abu Dhabi is planning to establish an Islamic banking business in Malaysia after setting commencing the operations of its conventional banking unit in the country in the third quarter of the year.

Indochina

The State Bank of Vietnam has received the premier’s permission to cut this year’s credit growth to 18-19% from an initial aim of 23% to prevent inflation.

Myanmar’s newly formed banks, namely United Amara Bank, Asia Green Development Bank, Ayeyarwady Bank and Sibin Tharyaryay Bank have all formed various partnerships with Kanbawza Bank which currently has the largest network in the country in an effort to expand the country’s private banking sector.

South Asia

ANZ has decided to re-enter the Indian banking sector. The Australian bank is planning to set up its first branch in Mumbai which will be offering wholesale banking services.

The Bangladeshi government has requested Grameen Bank founder Muhammad Yunus to retire, stating that he is past the retirement age allowed for executives at private banks.

The State Bank of Pakistan has requested banks and development financial institutions to adhere to regulations concerning the reporting of maturity gaps and interest rate sensitivity gaps.

Australia/New Zealand

Australia’s big four banks are planning to introduce new ATM fees in response to a proposed new legislation that limits bank ATM fees. The new legislation is aimed at eliminating fees that are charged to customers when they use their own-brand ATMs as well as other bank’s ATMs. 

Bendigo and Adelaide Bank is planning to raise about $250.5 million in a retail bond to increase its funding.

China

China Banking Regulatory Commission, the country’s financial regulator, is drafting new regulations concerning capital adequacy, provisions, leverage and liquidity rules for banks to improve financial risk management.

Guangdong Development Bank is planning to raise about $2-3 billion in an initial public offering, ahead of the bank’s planned dual listing in Shanghai and Hong Kong.

China Banking Regulatory Commission will ease its monitoring of bad loans that are incurred by smaller businesses in a bid to encourage more banks to provide lending facilities to them, as most banks prefer to lend to large state companies rather than to small- and medium-sized enterprises.

Hong Kong

Bank of China (Hong Kong) will be offering securities repurchase and lending facilities for banks in the offshore yuan market from March 2011. The new services will help in yuan settlements and allow for the introduction of new yuan products and services in the country.

Indonesia

Bank Indonesia, the country’s central bank, is reviewing minimum capital requirements and ownership rules for commercial banks. Indonesia’s commercial banks are currently required to have a minimum capital of $11 million and private entities are only allowed to hold controlling the stake in one commercial bank.

Japan

The Japanese Bankers Association has requested US regulators to ensure that higher risk based capital adequacy regulations are not applicable to foreign financial institutions, stating that the new rules would be very costly for non-US banks.

Mitsubishi UFJ Financial Group and Norinchukin Bank will pump about $1.2 billion, into Mitsubishi UFJ Nicos Corporation, a joint venture credit card business between both companies, in an effort to help the business remain profitable.

Korea, South

Government-owned Korea Development Bank has ended discussions to buy a 45% stake worth $1 billion in Indonesia’s Bank Panin.

The Financial Services Commission, the country’s financial regulator, has suspended Domin Mutual Savings & Finance Corporation, the seventh savings bank to be suspended in a week. The suspension was carried out after the regulator determined that the savings banks did not possess enough liquidity to cope with a recent spate of cash withdrawals.

Citigroup Korea will be applying for a retail brokerage license this year to provide an increased range of wealth management products and services to its customers.

Malaysia

Mizuho Corporate Bank Malaysia, a subsidiary of Mizuho Corporate Bank, has obtained permission from the Ministry of Finance for a commercial banking license, enabling the subsidiary to provide financial services to businesses in the country.

Bank Islam has introduced Visa Debit Card-I, a debit card that integrates the features of an ATM card and a Visa card. The card also offers a 0.5% cash rebate on retail purchases made with the card.  

Philippines 

China Bank has unveiled the China Bank Balanced Fund, a peso-dominated unit investment fund. The fund includes a combination of choice equities and high-grade fixed income securities.

Metrobank and Rizal Commercial Banking Corporation have asked the Bangko Sentral ng Pilipinas for time extensions to comply with the aggregate equity investment ceiling of 50% net worth of banks after exceeding this limit. Both banks were given a timeframe of 3 years which expired in December to remedy the breach in regulations.

Singapore

Sarasin Group, a Switzerland-based private bank, has opened a new trust company in Singapore. The company, Sarasin Trust Company, will offer trust, estate and succession planning advice to the bank’s customers.

United Overseas Bank will be hiring about 2000 employees in Singapore and the region this year to support its sales and branch expansion plans.

Taiwan

The Ministry of Economic Affairs has approved an application by Singapore’s DBS Bank to remit about $336 million to establish DBS Taiwan.

Thailand 

Bank of Thailand has received approval from Chinese regulators to invest about $30.40 million in Chinese government bonds. The central bank is also planning to open a branch in China soon.