Keywords:

“A small number of large banks have a monopoly. To break it we must allow private capital to flow into the finance sector.”
Chinese Premier Wen Jiabao on breaking the state-owned banks’ monopoly.



The following are notes from our Monday morning meeting.


Visa has dropped processor Global Payments due a data breach that might have affected 1.5m North American accounts.

RBC will acquire the remaining 50% stake in its joint venture RBC Dexia from Banque Internationale with $1.1b.

Deutsche Bank is finalising the sale of its asset management unit to US manager Guggenheim Partners for up to $2.13b.

Citibank veteran Anthony Grant has been named the new managing director of Tanzania’s Exim Bank.  

The Islamic Development Bank, Dallah Albaraka Group and the Qatari government have agreed to set up Mega Islamic Bank with a $1b paid-up capital.

Sumitomo Mitsui Trust Bank was hit by ATM malfunctions lasting six hours on April 2, its first day of business.

Taiwan’s FSC is set to raise the limit on bank loans and investments extended for Chinese companies to 100% of their net worth.

The US is set to relax its sanctions against Myanmar, potentially opening the market for foreign banking investments.

Malaysia's CIMB has formally announced its acquisition of RBS’ investment banking assets in Asia Pacific for $277.4m.

HSBC is reportedly selling its retail business in Pakistan to exit the country, with MCB Bank and KASB among the potential buyers.

National Australia Bank is reportedly in regulatory talks to debut the country’s first Islamic bond.