Regional/ International

Capital One Financial has agreed to buy ING’s US online bank for $9 billion in cash and stock. Capital One will pay $6.2 billion in cash and $2.8 billion in stock, giving ING a 9.9% ownership stake.

HSBC will wind down its $33 billion US credit card business if it cannot find a buyer. The move is part of its plans to slash up to $3.5 billion in costs and cut back in retail banking in a global bid to lift profitability.

Middle East

United Arab Bank has announced what it claims to be the lowest mortgage rate in the UAE, at 4.99%, in the UAE as demand for home financing starts to gather pace following a two-year slump.

Rasmala Investment Bank will be launching a Palestinian-focused fund and is hoping to raise $115 million for the fund, which will target stocks listed on the Palestine Stock Exchange.

National Bank of Kuwait and Boubyan Bank have led a coalition of five regional and Kuwaiti banks to arrange a $175 million syndicated loan for Al-Khorayef Group Company to finance the New Gathering Center 16 in West Kuwait.

The newly-opened National Bank of Pakistan in Riyadh, Saudi Arabia is now offering free remittance services to Pakistan under the brand name of “Instant Cash”.

Indochina

State Bank of Vietnam has announced the appointment of five new senior officers, Ms. Nguyen Thi Tam, Ms. Le Thi Kim Nga, Mr. Nguyen Van Tuan, Mr. Dao Minh Tuan, and Mr. Pham Quang Dung, to the management of Vietcombank.

South Asia

The State Bank of India will open four more branches in SA within a year, said its chairman, Pratip Chaudhuri, bringing the total number of its branches there up to seven.

Standard Chartered will be expanding its consumer banking line including its Islamic banking, credit card and personal loans portfolios in Pakistan.

Australia/New Zealand

Westpac has relented after initially refusing to replace the SecurID tokens used by business banking customers, following RSA’s shock revelation that the hackers that penetrated its firewall in March had since used the data to attempt an attack on Lockheed Martin, a major US government defence contractor.

Commonwealth Bank of Australia has issued a statement to the Australian Securities Exchange denying reports that it is interested in buying Insurance Australia Group to expand its insurance division.

China

Fudian Bank, the first local commercial bank in Kunming, Yunnan, became the first Chinese bank to provide direct exchange services between the Rmb and Laotian Kip.

Bank of China has received its first approval to bring renminbi it accumulated offshore back to mainland China, in a move that is part of Beijing's plan to promote the global trading of the country's currency.

ICBC will be buying 80% of Standard Bank’s Argentine unit in a deal worth $700m - $800m.

Hong Kong

HSBC Private Bank has recently appointed Sammy Shroff as head of FX and precious metals, Hong Kong. Shroff was previously executive director of JP Morgan’s private bank in Asia.

JP Morgan and BlackRock have rolled out a same day settlement platform in Asia Pacific. Through the service, JP Morgan Hong Kong will be able to notify investors about the incoming payment and will release payments to the bank of the underlying investor on a best effort basis to ensure receipt of funds on the same day.

Indonesia

Indonesia's central bank lifted its ban on new business in wealth-management services for nearly two dozen banks, though the local unit of Citigroup will still face restrictions.

Japan

Sumitomo Mitsui Financial Group will be ramping up its operations in China, India and Southeast Asia, and is considering acquiring loan portfolios from Western financial institutions, as well as tie-ups with local players.

Mitsubishi UFJ Financial Group is in talks with Malaysia's CIMB Group to boost ties in investment banking, including bond and equity underwriting for Southeast Asian companies.

Korea, South

Hana Financial Group has said it remains in talks to acquire Korea Exchange Bank for $4.3 billion, after its stock plunged to a seven-month low recently on speculation the deal will fall through.

Ten employees of Deutsche Securities Korea have resigned from the securities arm of Deutsche Bank, a move that comes as the unit serves a partial suspension of its operations after being sanctioned by local regulators earlier this year on charges of stock manipulation.

Workers at Standard Chartered’s South Korean banking unit plan to strike from June 27 to protest the company’s plan to change its salary system, leaving the bank with about half its workforce. About 3,000 union members at Standard Chartered First Bank Korea plan to walk off the job “indefinitely”.

Malaysia

Abu Dhabi Commercial Bank has received permission from Bank Negara Malaysia to sell its 25% stake in RHB Capital Bhd to sister company Aabar Investment PJSC.

Bahrain's Elaf Bank BSC has been granted approval by the Ministry of Finance to conduct a wide range of Islamic banking activities in Malaysia in currencies other than Ringgit.

Hong Leong Bank has announced a new top management line-up that sees three former EON Bank executives, Peter Chow, Moey Tan, and Hor Kwok Wai, take up top managerial positions.

Elaf Bank, licensed by the Central Bank of Bahrain to operate as a wholesale Islamic bank with a paid-up capital of $200 million, has been granted a license by the Ministry of Finance Malaysia to open a branch office under the Malaysia International Islamic Finance initiative.

The Philippines

Bangko Sentral ng Pilipinas has fully paid its $500-million loan taken out in 2005 by the full redemption of the remaining $200 million as $120 million and $80 million Floating Rate Notes.

First Metro Investment, BPI Capital, SB Capital Investment and Citibank have been selected to join DBP and Landbank of the Philippines in managing the Philippines’ planned local debt swap, although the government has yet to finalise the size, timing and structure of the swap.

Singapore

BSI Bank in Asia has established a new North Asia team in Singapore, led by Ng Tse Meng, a specialist in Chinese-speaking ultra high net worth individuals.

Westpac Private Bank Asia, the private banking division of Westpac launched two new innovative investment products for its customers in Singapore, becoming the first Singapore-based financial institution to bring Australian inflation-linked term deposits to market.

Taiwan

Cathay United, Mega International Commercial Bank, as well as Taiwan Cooperative Bank have signed separate memorandums of understanding with Agricultural Bank of to pave the way for cooperation in corporate lending, bancassurance, retail banking and personnel training.

Taiwan Cooperative Bank has signed a memorandum of understanding with Agricultural Bank of China (ABC) and will be cooperating with ABC to continue expanding businesses in China, and also setting up branches there.

Thailand

HSBC, Siam Commercial Bank, Krung Thai Bank, and Kasikornbank will be joint-managing the $1.3 billion sale of Thai investment-linked bonds to individual and institutional investors from July 11 to 13.

Deutsche Bank's country head in Thailand, Manfred Schmoelz, is leaving the bank by the end of the month, possibly to join Royal Bank of Scotland in Singapore.