Regional/ International

Germany’s Deutsche Industriebank has filed a lawsuit against Bank of America over losses related to more than $200 million in mortgage-backed securities that it purchased.

Australia’s Macquarie Group, US-based Principal Financial Group, Singapore’s United Overseas Bank, Japan’s Nikko Asset Management and South Korea’s Hanwha Group have reportedly expressed interest buying ING’s Asian asset management business which may be worth up to $600 million.

HSBC is in discussions over the possible sale of its operations in Latin America, namely Colombia, Peru, Uruguay and Paraguay.

RBS has named Ross McEwan, previously head of retail at Commonwealth Bank of Australia, as head of retail banking for the UK, where he will be responsible for the expansion of retail activities.

Middle East

The Central Bank of Oman has passed new guidelines stipulating that commercial banks cannot deduct more than 50 % per cent of the borrowers' salary as monthly installments for personal loans and 60 per cent for housing loans.

Central Bank of Turkey has signed a MoU with Malaysia’s Bank Negara, in a bid to promote bilateral investment and liquidity arrangements.

HSBC has launched an international trade SME fund worth about $272 million, 30% of which will be allocated to Emirati-owned businesses.

Indochina

HSBC Vietnam has announced its role as joint bookrunner and lead manager for VietinBank’s $250 million note issuance, with the deal contributing to improving the image of the local growing capital market.

Vietnam’s Sacombank is planning to raise $200 million via a five-year dollar bond which will be listed on the Singapore Stock Exchange.

South Asia

The State Bank of Pakistan, the country’s central bank, will be implementing the International Bank Account Number standard in the country with an aim of increasing standardization and efficiency in processing of payment.

Reserve Bank of India may conduct further investigations into financial irregularities reported in Maharashtra Cooperative Bank, after National Bank for Agriculture and Rural Development’s recommendation of suppressing the bank’s board of directors.

Government-owned Bank of Ceylon and People’s Bank had reportedly written off about $968 million as bad debt during the past 10 years.

Australia/New Zealand

National Australia Bank will sell $500 million worth of subordinated debt, its first domestic retail offering since 1999.

A New Zealand jury has found a 35-year old woman guilty of all the 30 fraud-related charges she faced after a Westpac bank error resulted in $7.8 million being deposited into her partner’s bank account.

China

CBRC has signed a MOU with Dubai Financial Services Authority that will see them cooperating on the supervision of Chinese banks operating in Dubai International Financial Centre.

CBRC has approved Bank of Communications’ plan to raise $9 billion via a private placement to increase its capital base.

HSBC China has opened a new branch in Harbin, northeast of China. The branch will focus on corporate banking services, providing RMB and foreign currency services and financial solutions including loans, deposits and cash management.

Hong Kong

China Everbright Bank has again applied to the Hong Kong Stock Exchange to list an IPO, after calling off its $6 billion listing in Hong Kong last year.

Coutts, the private banking unit of RBS, has named Kenneth Sue as its new head of products and services for Asia. Sue, previously from HSBC, will be responsible for driving development of its investment business in Hong Kong.

Agricultural Bank of China has bought an office building in Hong Kong’s prime business district for $629 million, the first Chinese bank to fully own its office building. The building will be used as its Hong Kong headquarters.

Indonesia

Bank Danamon’s business unit, Danamon Simpan Pinjam, has formed a partnership with the United States Agency for International Development to enhance training, technical ability and financing access for agribusiness enterprises around Indonesia.

Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia have provided a $450 million syndicated loan to Indonesian steelmaker Krakatau Steel to finance the construction of a blast-furnace complex.

Several domestic banks, including Bank Ina Perdana, Bank Mestika Dharma and Bank Maspion are being eyed by potential investors who are awaiting a resolution on new ownership regulations to be issued by Bank Indonesia.

Japan

Japanese banks, including Misubishi UFJ, Sumitomo Mitsui, and Mizuho, have increased lending in the overseas market, mostly Asia, last year, taking advantage of the retreat of European banks hit by tighter capital regulations.

Nomura is integrating Instinet, its subsidiary agency brokerage, with the bank’s equity franchise in a move that will see Instinet effectively become Nomura’s electronic trading arm. The bank will implement the integration plan on a market-by-market basis following a recent shake-up of the agency’s management.

Tax authorities have ordered former chairman of the now-bankrupt Incubator Bank of Japan, Takeshi Kimura, to pay ¥40 million ($500,000) in back taxes after determining he failed to report ¥240 million ($3 million) in capital gains from the sale of shares in the bank.

Korea, South

Kim Seok-dong, chairman of FSC Korea, has stated that the government will go ahead with its plan to privatise Woori Financial Group despite warnings of a strike by the labour union of Woori.

Korea’s Financial Supervisory Service will launch an inspection into the National Agricultural Cooperative Federation and Nonghyup Bank over frequent online transaction system breakdowns and irregular lending practices.

BNP Paribas has announced the appointment of Joris Dierckx as country head for Korea and general manager of BNP Paribas Seoul branch. Dierckx was country head for Greece for BNP Paribas and will work closely with the senior management team in Seoul in his current capacity.

Malaysia

Bank Negara Malaysia has been urged to relax the new guidelines on hire purchase loan by the Malay Vehicle Importers and Traders Association after appeals stating that it has hampered sales of imported and locally-assembled cars.

The Royal Bank of Scotland plans to consolidate its corporate banking business in Malaysia, with focus on its core business of lending, arranging bonds, both conventional and Islamic, and currency hedging.

Bank Islam Malaysia has said that it remains keen on buying a stake in an Islamic financial institution in Indonesia and is waiting for further clarification on the country’s shareholding regulations for commercial banks.

The Philippines

Banco de Oro has confirmed that it has submitted a proposal to the Philippine Deposit Insurance Corporation to take over the recently defunct Export and Industry Bank, reviving interest in the acquisition after talks on a rescue package were halted due to a court case filed against Exportbank’s brokerage unit.

The Asia United Bank (AUB) has obtained approval from Bangko Sentral ng Pilipinas to purchase the 28 thrift bank branches of Asia Development Bank. The acquisition will increase AUB’s total resources by more than $93 million and expand its nationwide network presence to 102 branches.

Singapore

HSBC, Deutsche Bank, Bank of Singapore and DBS said that they have turned away US clients to avoid unnecessary regulatory hassle borne through the implementation of FATCA, which seeks to prevent tax evasion by Americans with offshore accounts.

OCBC has agreed to provide a $134 million Transferrable Term Loan Facility to First Real Estate Investment Trust, out of which $40 million will be used to refinance First REIT’s outstanding loans.

Taiwan

Ta Chong Bank is being considered for sale by private equity firm Carlyle Group and other major shareholders, with Yuanta Financial the interested buyer in a deal that could be worth up to $1.25 billion.

Taishin Financial Holding has stated that it is interested in owning a life insurance subsidiary and will seize any opportunity to acquire one, but declined to comment on reports suggesting it has submitted a bid to purchase New York Life Taiwan.

The Bureau of Monetary Affairs, under FSC Taiwan, is studying whether to allow offshore banking units of domestic banks to handle valuable securities business without licensing from the Securities and Futures Commission.

Thailand

The Islamic Bank of Thailand has sent formal request for proposals to banks including Siam Commercial Bank, Bangkok Bank, TMB Bank, HSBC Bank, Standard Chartered Bank and CIMB Bank for a baht-denominated Sukuk.

Kasikornbank (Kbank) and Myanmar’s Asian Green Development Bank have launched a Thai-Myanmar funds transfer service that will allow 1.6 million workers in Thailand to remit funds home. The transfer service will initially be available through all Kbank’s channels in 11 pilot provinces, including Bangkok, Chiang Mai, and Phuket.