Keywords:

“I came to the conclusion that it would be indulgent to resign and that I ought to draw on what strengths of reserves I have to make RBS a success.”
RBS chief Stephen Hester, discussing his emotions on the public row over his bonus.



The following are notes from our Monday morning meeting.


Lehman Brothers is suing Citigroup over a $2.5b transfer made before its bankruptcy, claiming that Citi is wrongfully withholding the sum.

Standard & Poor’s has lowered credit ratings of 34 Italian banks, including the country’s top three UniCredit, Intesa Sanpaolo and Banca Monte dei Paschi.

Emirates NBD’s deputy CEO Abdul Wahed Al Fahim is reportedly stepping down due to management changes.

Hana Financial Group has completed its $3.9b acquisition of Korea Exchange Bank from Lone Star Funds and Export Import Bank of Korea.

Agricultural Bank of China has launched a London subsidiary.

DBS has formally launched DBS Taiwan, its regional subsidiary to further strengthen presence in Greater China.

Saigon-Hanoi Commercial Joint Stock Bank has set up its first overseas branch in Phnom Penh, Cambodia.

Malaysia's CIMB is reportedly in talks to acquire parts of RBS assets in the Asia-Pacific, a move that will boost its regional expansion.

India’s Dhanlaxmi Bank CEO and MD Amitabh Chaturvedi will be replaced by P.G. Jayakumar due to opinion differences with the board.

The National Australia Bank suffered a six-hour long nationwide disruption of ATM, internet, mobile and EFTPOS banking services on February 10 due to a computer crash.