trending Market Intelligence /marketintelligence/en/news-insights/trending/_wzadf9uztrmcitgwqvh2w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

NongHyup Financial seeks deals; India regulator fines 2 banks

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

NongHyup Financial seeks deals; India regulator fines 2 banks

S&P Global Market Intelligence offers our top picks of banking news stories and more published throughout the week. Please note that some entries may have links to third-party sources that may require a subscription.

M&A corner

* South Korea's NongHyup Financial Group Inc. is on the lookout for acquisitions in the investment and retail banking sectors in Southeast Asia as part of its plans to boost profits from overseas operations.

* A consortium of investors led by Indonesian businessman Ilham Habibie will buy an approximately 60% stake in PT Bank Muamalat Indonesia Tbk for 2 trillion rupiah.

* Australia & New Zealand Banking Group Ltd. completed the sale of its aligned dealer groups business to IOOF Holdings Ltd.

* Sumitomo Mitsui Financial Group Inc. will reportedly buy back the 34% stake in Sumitomo Mitsui Card Co. Ltd. owned by Japanese telco NTT Docomo Inc.

* Oversea-Chinese Banking Corp. Ltd. unit OCBC Wing Hang Bank Ltd. and other shareholders of Hong Kong Life Insurance Ltd. terminated the sale of the Hong Kong-based insurer to investment holding company First Origin International Ltd.

* Punjab National Bank plans to raise 85.83 billion rupees in the second half of the fiscal year ending March 31, 2019, by selling noncore assets.

* The Reserve Bank of India approved the merger of Kerala State Co-Operative Bank with 14 district cooperative banks in the state of Kerala. The merged entity will be called Kerala Cooperative Bank.

* The boards of Bank of Baroda and Vijaya Bank granted in-principle approvals to the two banks' proposed merger with Dena Bank.

Regulatory actions in Japan, India

* Japan's Financial Services Agency is set to ban Suruga Bank Ltd. from extending new property loans in the coming days following a lending scandal at the regional bank.

* Earlier, it was reported that the Japanese financial regulator will carry out a survey to query regional banks and other lenders on their lending to property investors amid concerns over the buildup of a potential bubble in the sector.

* Meanwhile, the Reserve Bank of India barred Bandhan Bank Ltd. from opening new branches without prior approval and told it to freeze CEO Chandra Shekhar Ghosh's remuneration after the lender failed to meet certain rules.

* The Indian central bank imposed a 50 million-rupee fine on Federal Bank Ltd. for failing to comply with the central bank's guidelines.

* The Indian central bank also fined Karur Vysya Bank Ltd. 50 million rupees for violating income recognition and asset classification norms.

Monetary policy decisions and more

* The central bank of Pakistan increased its policy rate by 100 basis points to 8.5% from 7.5%, effective Oct. 1.

* The central banks of Sri Lanka and Australia kept their respective policy rates unchanged.

* Malaysia's central bank issued guidelines to encourage Islamic banks to adopt value-based intermediation.

In other news

* Malayan Banking Bhd., or Maybank, obtained approval from Singapore's central bank to incorporate its community financial services business in the city-state.

* India's Lakshmi Vilas Bank Ltd. plans to raise around 20 billion rupees by March 31, 2019, through a preferential share issuance.

* Union Bank of the Philippines completed its 10-billion peso rights offering.

* Taiwan-based Far Eastern International Bank Ltd. obtained domestic regulatory approval to set up representative offices in Singapore and Ho Chi Minh City.

Featured on S&P Global Market Intelligence

Data Dispatch Asia-Pacific: Indian bank stocks post worst total returns in Q3

Data Dispatch: Asian banks post strong total stock returns for Q3; European peers lag