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Aussie banks to fix anti-fraud controls; Vietnam to limit foreign bank licenses

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Aussie banks to fix anti-fraud controls; Vietnam to limit foreign bank licenses

GREATER CHINA

* Shin Kong Financial Holding Co. Ltd. said its after-tax profit for the seven months ended July surged 147.45% year over year to NT$21.48 billion, surpassing NT$20 billion for the first time since it was established in 2002, China Times reported.

* E.SUN Financial Holding Co. Ltd. banking arm E.Sun Bank is collaborating with Pi Mobile Technology Inc. to develop a co-branded credit card as they aim to expand mobile payment use in Taiwan, Taipei Times reported, citing E.Sun Financial President Joseph Huang.

* Hong Kong's major banks including HSBC Holdings' local branch, Bank of China (Hong Kong) Ltd. and Hang Seng Bank Ltd., among others, are looking to raise mortgage rates by 10 basis points to prime minus 2.75%, effective Aug. 13, Reuters reported.

JAPAN AND KOREA

* South Korea's Financial Supervisory Service will conduct fact-checking inspections at Eugene Investment & Securities Co. Ltd. and Korea Securities Depository in connection with an erroneous U.S. inverse ETF trade through a retail investor account.

* Kwangju Bank Ltd. is set to become a wholly owned unit of JB Financial Group Co. Ltd. in a stock swap deal, effective Oct. 9, Yonhap News Agency reported.

* Meritz Securities Co. Ltd. said it would raise short-term borrowings by 1 trillion won to increase its capacity for commercial paper issuance, Yonhap News Agency reported.

ASEAN

* Bank Indonesia and the Reserve Bank of Australia have agreed to extend their bilateral local currency swap agreement worth 100 trillion rupiah to December 2021, Indonesia's Antara News Agency reported.

* Metropolitan Bank & Trust Co. unit Philippine Savings Bank's net profit in the first half grew 14.7% to 1.35 billion pesos from 1.18 billion pesos in the prior-year period, BusinessWorld reported.

* PT Bank Mandiri (Persero) Tbk plans to raise 3 trillion Indonesian rupiah through an issuance of shelf registration bonds, The Jakarta Post reported, citing Panji Irawan, the bank's finance director. The lender plans to use the proceeds to boost its funding structure and expand its loan disbursement.

* Vietnam is set to limit or halt the issuance of new licenses to foreign lenders looking to operate in the country in a bid to encourage local acquisitions and strengthen the country's financial system, Reuters reported.

SOUTH ASIA

* PNB Housing Finance Ltd.'s net profit after tax for the quarter ended June 30 grew 50% to 2.56 billion Indian rupees from 1.70 billion rupees in the prior-year period.

* United Bank of India posted net profit of 3.89 billion rupees for the quarter ended June 30, compared with 2.11 billion rupees in the prior-year period.

* India's Vijaya Bank appointed Sidheswar Patra chief risk officer for a two-year period. Patra currently heads the lender's risk management department.

* Power Finance Corp. Ltd. plans to raise US$300 million through an issuance of 5.25% notes due in 2028. Proceeds from the issuance will be used for general corporate purposes.

AUSTRALIA AND NEW ZEALAND

* Bendigo & Adelaide Bank Ltd., Commonwealth Bank of Australia, Macquarie Bank Ltd., National Australia Bank Ltd. and Westpac Banking Corp. agreed to revamp their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial adviser, following a review by the Australian Securities and Investments Commission.

* ASIC released its enforcement report for the six months ended June, highlighting a number of important cases and decisions during the period and providing a high-level overview of some of its enforcement priorities.

* NZX Ltd. said Patrick Strange is set to retire from the bourse operator's board at its 2019 annual meeting. The board will provide an update on Strange's replacement "in due course."

IN OTHER PARTS OF THE WORLD

Middle East & Africa: Mizrahi Tefahot will not settle US probe for $342M; Saudi-Canada row escalates

Europe: Prudential, L&G, Zurich report earnings; Italy eyes Monte dei Paschi sale

Latin America: Banco do Brasil's Q2 profit rises almost 20%; Intercorp's profit falls

North America: House plans FHFA oversight hearing; LendingClub faces Massachusetts AG scrutiny

Global Insurance: AMA wants CVS/Aetna blocked; fresh Icahn salvo; UK's Prudential keeping Asia biz

R Sio, Sally Wang, Jonathan Cheah, Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.

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