Regional/ International

ICBC Europe has obtained approval from the Polish Financial Supervision Authority to open a new branch in Poland, the first Chinese bank to set up a branch there.

The IMF has rejected calls by a US anti-Iran group to cut its relation with Tehran’s central bank in order to adhere to US and European sanctions, stating that its account with Bank Markazi is simply related to Iran’s membership in the IMF.

Middle East

The Commercial Bank of Kuwait has appointed Ali al-Moussa as its new chairman, replacing outgoing CBK board chairman Ali Al-Awadhi. Al-Moussa will resign as chairman of Securities Group Company, a Kuwait-based investment management company.

Citibank Bahrain announced the launch of its Citi@Mall campaign at Bahrain City Centre, a platform to deliver complimentary upfront gifts to applicants signing up for Citibank products.

Barwa Bank has introduced a new Shariah-compliant credit card which enables customers to earn loyalty points that could be converted to Qatar Airway Privilege Club Qmiles, as part of its measures to strengthen retail operations.

Indochina

The World Bank will open an office in Myanmar in June as it moves towards re-engagement with the country, and seeks to boost people’s incomes so they can see the benefits of the government’s reforms.

Vietcombank and Franklin Resources have named Avinash Satwalekar as chief executive officer of Vietcombank Fund Management, an investment management firm focused on Vietnam.

Governor of the State Bank of Vietnam, Nguyen Van Binh, has said that commercial banks would consider restructuring the loans granted to businesses, which are meeting temporary difficulties but can prove the capability of paying debts in the near future.

South Asia

The Indian government and the Reserve Bank of India are working on changing rules to give corporate companies more leeway in repaying foreign currency convertible bonds that have turned bad.

Sri Lanka’s Commercial Bank of Ceylon announced the official appointment of Ravi Dias as managing director and chief executive officer. Ravi has been acting MD and CEO since Amitha Gooneratne’s retirement earlier this year.

ICICI Bank, HDFC Bank, and Axis Bank have been placed under review for a downgrade of their financial strength rating by Moody’s Investors Service as the lenders are currently above India’s sovereign debt rating.

Australia/New Zealand

Deutsche Bank has been appointed by APN News & Media to undertake a strategic review of its media assets in New Zealand after receiving approaches from potential buyers.

Investa Property Group, a unit of Morgan Stanley Australia, completed a A$1.9 billion ($1.96 billion) refinancing package with major domestic banks, two European banks and a Chinese bank - the largest real-estate refinance in five years, Investa said on Thursday.

Australia and New Zealand Banking Group chairman Sir Dryden Spring will retire next month, having been involved with the bank since 1994 and holding the post of chairman for six years.

China

ABN AMRO has announced the opening of a new representative office in Shanghai which will initially focus on supporting the bank’s Energy, Commodities and Transportation business in the region.

The People’s Bank of China and the World Bank Group have signed an agency agreement that allows the International Bank for Reconstruction and Development and the International Development Association to invest in China’s onshore Interbank bond market.

Singapore's state-linked investment firm Temasek has cut its stakes in two of China's largest banks by selling shares worth $2.48 billion, as part of a portfolio rebalancing effort, following its stake increase in ICBC Bank mid-April.

Hong Kong

BNP Paribas in Hong Kong is facing a lawsuit filed by Sinopec, a unit of China Chemical & Petroleum Corporation to recover $46.6 million from the French bank, following allegations that the bank breached a stand-by letter of credit.

China Construction Bank and the Industrial and Commercial Bank of China has completed syndication of a HK$3 billion ($128.9 million) loan for Kingboard Laminates, an organisation involved in the production and distribution of laminate products.

Matthews International Capital Management has received approval from the Securities and Futures Commission of Hong Kong to distribute its Luxembourg-domiciled UCITS umbrella fund, Matthews Asia Funds, to retail investors in Hong Kong.

Indonesia

Indonesia’s central bank has stated that it will issue new bank ownership rules at the end of May, before reviewing plans by Singapore’s DBS Group to acquire PT Bank Danamon, delaying the biggest ever acquisition in the country.

Bank Rakyat Indonesia has agreed to team up with the Industrial Bank of Korea to tap into South Korea’s growing business in Indonesia, as well as assist the increase in the number of Indonesian migrant workers in the country.

Japan

Citigroup has announced the appointment of Tatsuo Tanaka as chairman of Citigroup Japan, as the bank overhauls its top management in Japan after being penalised three times in eight years for violating various banking regulations.

Japan’s Securities and Exchange Surveillance Commission revealed it had started investigating Nomura Holdings following a probe into suspicious trading activity ahead of capital-raising announcements by blue-chip firms.

Shinsei Bank will install Shinsei Bank Card Loan – Lake automated contract machines in two of the bank’s ATM corners in Tokyo to make it more convenient for account holders to apply for personal loans.

Korea, South

The Bank of Korea stated that it has purchased China’s government bonds on the over-the-counter market after obtaining approval from the PBoC to purchase as much as $3.2 billion, with the purchase part of efforts to diversify its foreign reserves.

The South Korean government has kick started its third attempt to unload a controlling stake in Woori Finance Holdings, putting its $5.3 billion majority stake in the financial institution for sale in a bid to privatise the group, stressing that merger would also be a strategic option.

Lone Star Funds, whose investment in Korea Exchange Bank earned it at least $4 billion, claimed in a lawsuit that the lender alone was liable for a $49 million compensation-related payment to Olympus Capital Holdings Asia.

Malaysia

CIMB Bank has launched its Visa INFINTE by invitation only credit card, designed to cater to high net worth customers with benefits tailored to their lifestyle, offering benefits including unlimited complimentary access to airport lounges in major airports worldwide and a cash rebate of up to 1.5% for every Ringgit spent abroad.

Bank Negara Malaysia is closely monitoring the activities of shadow banks that are not regulated under the mainstream banking system, with concerns over non-bank lending having surfaced in the wake of the implementation of responsible lending guidelines in the regular banking system.

Saudi Arabia’s Al Rajhi Bank is turning to the Ringgit-denominated debt market for its debut sukuk sale to fund the opening of new branches in Malaysia, with the bank considering adding to the 23 existing outlets in the country.

The Philippines

Bank of the Philippine Islands plans to add 34 new branches this year to its existing branch network of 819, with 24 out of the 34 branches to be allocated to the branch network of BPI Family Savings.

Depositors of the defunct Export and Industry Bank are planning to file charges of syndicated estafa against bank officials, claiming that they were prevented from withdrawing their money after being assured by bank officials of BDO Unibank’s imminent purchase of the bank.

The Supreme Court of the Philippines has ordered the Land Bank of Philippines and the Department of Agrarian Reform to determine just compensation for the original owners of the 4,916-hectare Hacienda Luisita, having released ruling on the distribution of the sugar plantation estate to over 6,000 farmer beneficiaries.

Singapore

The Bank of Singapore announced that its proprietary training program, Programme for Wealth Management Professionals, has received FICS accreditation by the Institute of Banking and Finance, making it the first Singapore-headquartered private bank to offer its own proprietary training and assessment program for private bankers.

Ian Pollock has been appointed chief executive officer of VP Bank Singapore, subject to the approval of the Monetary Authority of Singapore, as part of the bank’s expansion plans in Asia. Reto Isenring, who has held the position until now, will in future act as Deputy CEO as well as COO.

DBS Group will be holding off on making acquisitions for the next one to two years following its $7.2 billion offer for Bank Danamon Indonesia, with the purchase increasing its overseas income and lessening dependence on the Singapore market.

Taiwan

A group of Taiwan creditor banks of DRAM chip maker ProMos Technology are seeking court permission to sell the company’s wafer plant without approval of its shareholders, following the company’s unsuccessful bid to find a buyer for the wafer facility to repay loans to the banks, which include Taiwan Cooperative Financial, Chinatrust Financial and Bank of Taiwan.

Taiwan’s trade repository, GreTai Securities Market, is looking to set up a reporting system with the Depository Trust & Clearing Corporation in order to avoid the potential double reporting of OTC derivative trades by banks.

Taiwan’s Financial Supervisory Commission has announced that Taiwanese banks will be required to fully adopt the stricter capital requirements under Basel III rules starting 2019, stating that any fundraising to satisfy the move will not strain the island’s capital market.

Thailand

Malaysia’s Maybank has said that it is exploring a bank business opportunity in Thailand, but is not in active talks about acquiring a stake in TMB Bank.

Thailand’s criminal court has sentenced Thanakrit Chanpen, to 20 years in prison for a series of offences involving the forging and use of fake bank cards using details stolen from people using ATM machines.

The Bank of Thailand (BOT) is attempting to encourage loan sharks to take part in the country's official non-bank lending system, and two or three big players are interested in the proposal. Under the BOT's lending regulations, registered non-bank lenders must not charge borrowers annual interest of more than 28%.