Banking

NEW YORK, Mar 14, 2012 (BUSINESS WIRE) — Deutsche Bank today announced Islamic Finance News has recently recognized the Bank as Best Islamic Trustee / Custodian in its 2011 Best Banks Poll. This is the second consecutive year Deutsche Bank has achieved this recognition. The Islamic Finance News 2011 Best Banks Poll takes an unbiased and all-encompassing approach in selecting …

Asia-Pacific central banks will probably hold off on adding monetary stimulus this week as higher oil prices combine with diminishing concern of a euro- region meltdown to make the case for preserving firepower. South Korea and New Zealand will hold interest rates tomorrow, according to all economists surveyed by Bloomberg News. Indonesia will keep its key rate at 5.75 percent …

BEIJING, Feb. 26 (Xinhuanet) — China’s central bank may cut the interest rate in the second and third quarters this year, as the economies in the EU and US slow down further while domestic inflation pressure gradually eases, economists said on Saturday. According to research co-sponsored by Xiamen University and the National University of Singapore, China’s monetary policy is very …

India has proposed setting up a multilateral bank that would be exclusively funded by developing nations and finance projects in those countries, two government officials with knowledge of the matter said. The plan has been circulated to the countries in the so- called BRIC group — Brazil, Russia, India and China — as well as to South Africa, an Indian …

The Asian Development Bank estimates donor countries will probably need to provide as much as $13 billion from 2013 to 2016 to finance loans and grants to projects in poor countries. Negotiations with donors for about $12 billion to $13 billion of funds is ongoing and may last until May this year, Kazu Sakai, director general of the strategy and …

BEIJING, Feb. 19 (Xinhua) — China’s commercial banks saw their combined net profit expand to 1.04 trillion yuan (165.1 billion U.S. dollars) in 2011, according to latest official data. It was a marked increase from 763.7 billion yuan in 2010, statistics from the China Banking Regulatory Commission (CBRC) show. The lenders’ non-performing loan ratio stood at 1 percent as of …

CHINA’S central bank said yesterday it will maintain a prudent monetary policy as the country faces pressure in supporting growth and containing inflation. The remarks, made by an official with the People’s Bank of China, was quoted in a PBOC press release a day after the central bank unveiled a reserve requirement ratio cut to ease a liquidity shortage and …

China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe’s debt crisis and a cooling property market threaten economic growth. Reserve ratios will fall 50 basis points, effective Feb. 24, the People’s Bank of China said on its website yesterday evening. The level for the nation’s largest lenders will decline to 20.5 percent, …