A liquidity squeeze in the second half of June is refocusing attention on China’s banks, and not a moment too soon. Much recent discussion has surrounded the broader macroeconomic transformation China needs, away from export- and investment-led growth and toward greater reliance on domestic consumption. But the effect of such a transformation on the country’s financial system remains poorly understood. …
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SINGAPORE—Moody’s Investors Service cut Vietnam’s credit rating further into junk territory, citing risks that the government will have to pump money into the country’s banks and the sector’s limited ability to support the economy. Moody’s on Friday downgraded Vietnam by one notch to B2 with a stable outlook and said risks to the rating were balanced going forward. It also …
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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 …
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SINGAPORE/NEW DELHI: Reliance Communications has appointed another two banks for the upcoming $1 billion IPO of its undersea cable unit in what may be the biggest stock listing in Singapore this year, two sources said. Standard Chartered and DBS Group Holdings will join Deutsche Bank as the main advisers in an initial public offering, which will help the debt-laden Indian …
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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 …
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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, …
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