All articles by Douglas Blakey
Douglas Blakey
China Mobile confirms Shanghai Pudong talks
China Mobile, the worlds largest mobile operator by subscribers, has confirmed it is in talks to acquire a stake in Shanghai Pudong Development Bank (SPDB) in order to expand into the e-commerce sector. In an effort to capture a share of the countrys online payments market, worth around CNY180bn ($26.3bn) in 2009, China Mobile started offering some mobile payment services last year.
ANZ obtains approval for Indian retail launch
ANZ has obtained in-principle approval for an international banking licence in India, paving the way for the bank to re-enter the country for the first time since it sold Grindlays Bank in 2000. ANZ, Australias third-largest bank by assets, plans to offer retail and wholesale banking services in India and is aiming to open its branch in the country within 12 months pending final approval from the central bank.
RBC, BMO post strong first-quarter profits
Royal Bank of Canada (RBC) has posted first quarter net income of C$1.49bn ($1.44bn), up 25% from the corresponding period last year. RBCs Canadian Banking unit (incorporating personal financial services, business banking and the banks cards unit) posted net profits of C$777m for the three months to 31 January, up 11.6% year-on-year. RBC president and CEO Gordon Nixon said: Our results in Canadian Banking reflect strong volume growth and market share gains across most products
Kazkommertsbank to extend loyalty scheme
The rewards platform, supplied by France-based vendor Welcome Real-time, will encourage KKB customers to use the banks Homebank internet banking service, with customers rewarded for checking their balance, making payments, opening new accounts and signing up for other KKB products such as insurance, or investment services.
Umpqua Bank bags another failed Washington lender
Umpqua Bank has acquired the banking operations and 14 branch network of failed Washington-based lender Rainier Pacific Bank, in a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC).
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2010 off to ‘great start’, says TD’s Ed Clark
Toronto Dominion (TD), Canadas second-largest bank, has reported first quarter net earnings of C$1.3bn ($1.26bn), almost double the $653m earned in the same period last year Our year is off to a great start after an excellent first quarter that featured record revenue of more than $5bn, stable levels of loan losses and good expense management, said president and CEO Ed Clark.
AIB slips to ?2.4bn loss, seeks capital
Allied Irish Banks (AIB) has posted a net loss for fiscal 2009 of 2.4bn ($3.3bn) compared with a net profit of 772m a year earlier, following a surge in impairment charges related to the Irish property crash.
Ziraat reports ‘profit of the century’
Ziraat Bankasi, Turkeys largest public-sector bank, has posted a 67% increase in net profits to TRY3.5bn ($2.26bn), up from TRY2.1bn the previous year. Summing up the banks earnings in fiscal 2009, Ziraat chief executive Can Akn aglar said: That is the net profit of the century.
UK government promotes Moneymadeclear
A national financial advice service, Moneymadeclear, has been launched by the UK government, incorporating a telephone help-line, website and face-to-face sessions with independent financial experts.
Calls for unarranged overdraft opt out
The Office of Fair Trading, the UK government department charged with enforcing consumer protection and competition law, has called on the countrys banks to change their policies regarding unauthorised overdrafts within the next two years, including the right for customers to opt out UK banks should offer customers current accounts which allow them to opt out of overdraft facilities, as well as greater choice regarding fees structures, according to a report on 16 March entitled Personal current accounts in the UK-Unarranged overdrafts from consumer watchdog the Office of Fair Trading (OFT).