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PSBC unit China’s 2nd direct bank

PSBC Youhui Wanjia Bank, a wholly owned subsidiary of the Postal Savings Bank of China, received regulatory approval yesterday to open....

December 28, 2021, Tuesday

Top regulator tells banks to boost controls

Chinese banks have been ordered to strengthen their risk control and business compliance measures after two widely reported scandals recently hit the sector, the top industry regulator said yesterday....

November 26, 2021, Friday

Bohai accused of mishandling funds

China Bohai Bank, a national joint-stock commercial bank based in the northern city of Tianjin, has been accused by an enterprise client of secretly using its 2.8 billion yuan (US$438 million) in deposits...

October 28, 2021, Thursday

New Development Bank officially opens new head office in Pudong

The New Development Bank officially opened its new headquarters in Shanghai yesterday....

September 29, 2021, Wednesday

As profits rise, HSBC to restore dividends

HSBC yesterday said it would resume paying dividends to shareholders after first-half profits more than doubled as an ongoing restructuring and pivot to Asia continues to pay off....

August 3, 2021, Tuesday

HSBC plans to exit US retail banking sector

HSBC announced on Wednesday that it is exiting the retail and small business banking market in the United States, in line with its strategy to refocus on corporate and investment banking in Asia....

May 28, 2021, Friday

Top state banks report hard-won growth in 2020

Major Chinese state-owned banks have weathered the difficulties of 2020 with stable improvement in operating results and achieving hard-won growth, according to their fiscal reports....

April 1, 2021, Thursday

Top global banks warn of losses

Top global banks Nomura of Japan and Switzerland’s Credit Suisse warned yesterday they could face significant losses following reports of their exposure to a US fund that sold billions in stocks last...

March 30, 2021, Tuesday

HSBC agrees to phase out coal funding

The Hong Kong and Shanghai Banking Corp yesterday unveiled plans to phase out financing of the coal industry over the next two decades, bowing to shareholder pressure to do more to tackle global warmi...

March 12, 2021, Friday

Banks post job offers over digital currency

Banks are scouting for talent and posting job openings as China expands its trial of a central bank digital currency....

March 3, 2021, Wednesday



 

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