Regional/ International

RBS, in a bid to reduce costs and pay back its bailout by taxpayers, is planning to reduce its workforce by 3,500 and close 10 offices in Britain.

Ireland is reportedly planning to close down government-owned Anglo Irish Bank, as the Irish government is unable to continue pumping in money into the ailing bank.

UK´s Financial Services Authority has fined Goldman Sachs $31 million for failing to inform the regulator that it was being investigated for fraud by the Securities and Exchange Commission earlier this year.

Canada´s Bank of Montreal is planning to raise about $675 million via an issue of 5.5-year notes and 15-year notes.

Middle East

Emirates NBD has joined SADAD, the electronic bill payment system managed by the Saudi Arabian Monetary Agency, enabling the bank´s clients to make direct payments for utility bills and government services.

UAE banks have reportedly halted money transfers in all currencies to Iran, in line with UN Security Council´s sanctions on Iran due to its uranium enrichment programme.

United Bank of Egypt has partnered with EzRemit, a provider of money transfer and foreign exchange services, allowing the bank´s customers to transfer money to Egypt at a cheaper cost.

Indochina

Hanoi Building Commercial Joint Stock Bank is concluding the issue of convertible bonds worth $53.85 million for capital raising purposes. The bank will be listed on the Hanoi Stock Exchange in November.

State Bank of Vietnam, the country´s central bank, has given permission to Oricombank to raise its registered capital to $159.3 million from $102.8 million through a share issue.

South Asia

Bank of India is seeking permission from both Central Bank of India and Central Bank of Kenya to convert its Kenyan unit into a fully fledged Kenyan bank and as a subsidiary of its Indian-based parent company. The Kenyan unit of Bank of India, which has four branches in Nairobi, is currently operating as a branch of its parent bank.

Government-owned Merchant Bank of Sri Lanka will be merging with Merchant Credit of Sri Lanka and Ceylease Finance Services, with the new entity retaining the name of Merchant Bank of Sri Lanka. All three banks are subsidiaries of Bank of Ceylon.

Bangladesh Bank, the country´s central bank, has given banks permission to conduct online transactions on behalf of local ICT firms without prior approval from the central bank. Banks will be allowed to carry out online transactions up to $10,000.

Australia/New Zealand

Jane Kittel has been appointed managing director of Bank SA, a subsidiary of Westpac Bank. Kittel was previously general manager of Westpac´s Pacific Banking.

Macquarie Bank has started reducing its workforce as a result of a 25% decline in profits.

Kiwibank has named Paul Brock as its new CEO, replacing Sam Knowles who has resigned. Brock was previously general manager of savings and transactions at the bank.

China

Bank of China has sold two- and three-year yuan-denominated bonds worth about $735 million in Hong Kong.

China Banking Regulatory Commission, the country´s financial regulator, will be investigating local banks´ relationships with private equity firms to determine if banks have taken sufficient measures to protect themselves from associated risks. The regulator has met with banks to determine their management of risks, conflicts of interest and returns when they deal with private equity firms.

People´s Bank of China, the country´s central bank, has approved ICBC´s planned issue of subordinated bonds worth $2.3 billion.

Hong Kong

Hong Kong Monetary Authority, the country´s financial regulator, has lengthened HSBC´s appointment as a settlement institution for its US dollar clearing system for another five years.

Hong Kong Monetary Authority is planning to set up a mortgage database that can be accessed by all banks to help them determine whether clients can repay their housing debts. The regulator notes that this is crucial to the stability of the country´s banking system. The database is to be established next year.

Indonesia

Bank Nasional Indonesia, Bank Mandiri, Bank Rakyat Indonesia, Bank Bukopin, Bank Tabungan Negara, other rural banks and regional development banks are having difficulty distributing micro loans to small businesses as applicants are unable to meet the criteria set by banks to pay back the loans. The banks were appointed by the Indonesian government to disburse micro credit loans worth $2.2 billion (confirmed in USD) to the SME sector.

Bank Negara Indonesia is planning a rights issue worth $700 million later this year. The bank has appointed UBS and Goldman Sachs as global underwriters for the issue.

Bank Indonesia, the country´s central bank, has passed new regulations that require banks to maintain their loan-to-deposit ratio within the 78 – 100% range. The regulation is expected to compel banks to distribute more loans to its clients.

Japan/Korea

Bank of Tokyo-Mitsubishi UFJ and Sumitomo Banking Corporation have teamed up with government-owned Development Bank of Japan to set up a bailout fund worth $1.19 billion. The fund is meant to help the banks´ ailing client companies to return to profitability.

Shinsei Bank has appointed David Morgan, previously CEO of Westpac Bank, as senior adviser. The bank is undertaking a management reform after a failed merger with rival Aozora Bank.

Mizuho Bank has set aside a budget of $1.2 billion to purchase commercial banks in Asia, as the bank is interested in expanding its presence in the region.

Korea, South Korea Finance Corporation, which acts as the country´s national policy and development bank, plans to raise about $750 million via US dollar-denominated bonds. The bank has filed an application with the US Securities and Exchange Commission.

Government-owned Industrial Bank of Korea will be increasing its number of corporate bank branches in China to 10 this year. The bank is also expected to enter the Chinese retail banking sector next year.

Busan Savings Bank has decided to sell affiliates Jungang Busan Mutual Savings Bank and Jeonju Savings Bank to preserve its capital and focus on Daejeon Mutual Savings Bank, another affiliate bank.

Malaysia

Affin Holdings has cancelled plans to consolidate its banking businesses which comprise Affin Bank, Affin Investment Bank and Affin Islamic Bank. All three subsidiaries will continue to be under the Affin Bank group of companies.

Bank Negara Malaysia, the country´s central bank, has delayed the renewal of Ng Wing Fai´s directorship of EON Capital, reportedly due to the difficult takeover of the bank by Hong Leong Bank.

Bank Negara Malaysia is in talks with local banks to curb property speculation. Decreasing the loan-to-value ratio for mortgages from 90% to 80% has been fielded as a possible measure.

Philippines

The Bangko Sentral ng Pilipinas, the country´s financial regulator, will give Banco de Oro Unibank 30 new branch licenses after the bank´s takeover of Export and Import Bank is completed. The new branches will be opened over a period of 3 years.

Rizal Commercial Banking Corporation has selected Citigroup Global Markets as its global coordinator for a planned Tier 1 fundraising. The appointment is pending regulatory approval from the Bangko Sentral ng Pilipinas.

Singapore

DBS has appointed Tan Kong Khoon as group executive and head of consumer banking, replacing Rajan Raju who has left the bank. Tam was previously head of retail banking and wealth management for Hong Kong and northeast Asia at ANZ.

Maybank Singapore has launched an Islamic banking outlet in Geylang Serai, Singapore. The branch will offer Syariah-compliant products and services to retail customers and small-to-medium enterprises.

Taiwan

Sean Chao has been appointed as CEO of Morgan Stanley Taiwan. Chao was previously UBS´ head of Taiwan. His appointment will be effective in December.

The Financial Supervisory Commission has disclosed that the mainland´s Bank of China and Bank of Communications have sent applications to establish representative offices in Taiwan.

First Financial Holding Company and Hua Nan Holding Company are expanding their operations in China. First Commercial Bank, a unit of First Financial, will open branches in Kunshan and Suzhou, while Hua Nan Bank, a unit of Hua Nan Holding Company, is seeking to upgrade its office in Shenzhen to a branch

Thailand

Thai Credit Retail Bank will be purchasing a 38.65% stake in Siam Industrial Credit from Siam Commercial Bank for $29 million. Siam Industrial Credit is a finance company that provides leasing, factoring, hire purchase and loans.

Krung Thai Bank will partner with Chia Tai Group to establish a new bank in China, having received a national license to operate a bank in Shanghai.