The days of China's banks raking in easy fat profits have gone, for now, as the slowing economy and market-based financial reform squeeze profits and extend bad loans, semi-annual reports have shown.
Indonesia, in an effort to build a green economy, is boosting green financing services by national banks to companies aiming at addressing environmental issues in the country, officials said at a meeting here Wednesday.
Major Chinese banks have vowed to offer strong credit support for green economy.
Economists and experts have lauded the central bank's removal of controls on bank lending rates as a critical step in reforming the nation's financial system.
China's central bank took a sharp turn Tuesday evening, when it promised to inject money into a temporary liquidity shortage after rejecting banks' pleas for cash over the past two weeks.
Eyeing strong growth momentum, Societe Generale China is aiming to think long term and build on its expertise to differentiate from competitors, said its chairwoman Anne Marion-Bouchacourt as the bank opened its seventh branch in the country on Wednesday.
People's Bank of China (PBoC) Tuesday drained 2 billion yuan from the money market despite banks' reported call for cash injection, suggesting regulators are keen to keep liquidity tight amid growing jitters of China's financial risks.
After the Cyprus Crisis, some experts called for the euro zone to establish a banking union as soon as possible in order to rescue the bank directly, but Professor Markus Kerber, founder of the German think tank Europolis, said, to achieve this strategy, Europe should first clear up the larger problem banks, otherwise it will face hidden dangers.
Massive monetary stimulus taken by the major central banks is unlikely to ignite inflation as the inflation expectations have become more anchored than in the past and the response of inflation to changes in cyclical unemployment has become more muted, said the International Monetary Fund on Tuesday.
The Cypriot government announced on Wednesday that banks will remain closed for five more days as politicians and technocrats probe ways of urgently raising funds to close a gap created when parliament rejected a levy on bank deposits.
China's stock market has been among the weakest part of the nation's economic rise, and the securities regulator is among the most thorny ministerial posts in the country's bureaucratic system.The tricky job is now the responsibility of banking veteran Xiao Gang.
New Zealand's registered banks are being targeted in what is set to be the country's biggest ever class action lawsuit as three law firms attempt to reclaim " excessive" bank default fees for bank customers.
Myanmar has taken measures to introduce international electronic payment services, bringing in so far three international payment cards to facilitate foreign travelers in domestic payment in preparation of the upcoming Myanmar-host 27th Southeast Asian (SEA) Games in December this year.
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