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Deutsche Bank, China Development Bank ink MOU; RHB Bank, AMMB in merger talks


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Deutsche Bank, China Development Bank ink MOU; RHB Bank, AMMB in merger talks

* Deutsche Bank AG signed a memorandum of understanding with China Development Bank Corp. to jointly finance US$3 billion of projects in China's One Belt, One Road infrastructure initiative over a period of five years.

* RHB Bank Bhd. and AMMB Holdings Bhd. may announce approval of merger talks by the central bank on June 1, Reuters reported, citing two sources familiar with the matter. Trading for both entities at Bursa Malaysia is suspended at the moment.

* Indonesian conglomerate Salim Group has acquired at least a 51% stake in local lender PT Bank Ina Perdana Tbk for an estimated 570 billion Indonesian rupiah, The Nikkei reported. The group acquired the stake through affiliates that subscribed to new shares issued by the bank.


* China Investment Corp. plans to increase its support for innovative industries and focus more on advanced technology and new business models and services, China Daily reported.

* Taiwan's Financial Supervisory Commission said the overseas earnings of Taiwanese banks were boosted by a new southbound policy as the banks' first-quarter incomes from the countries covered by the policy have hit a record high, the Taipei Times reported. Earnings reached NT$1.72 billion in the countries covered by the policy, including those in ASEAN, South Asia, Australia and New Zealand. Vietnam, Cambodia and Australia ranked as the largest sources of earnings for Taiwanese banks.

* S&P Global Ratings affirmed China Taiping Insurance Grp (HK) Co. Ltd.'s long- and short-term issuer credit ratings at BBB+ and A-2, respectively. The outlook is stable.


* SMBC Nikko Securities Inc. will implement U.S.-based Black Rock's professional grade risk management system for its high-net-worth customers to provide personalized and detailed comprehensive analysis, The Nikkei reported.

* Bank of Tokyo-Mitsubishi UFJ Ltd. and Sumitomo Mitsui Banking Corp. will increase their 10-year fixed rate mortgage rates by 0.05% to 0.75% and 1.05%, respectively, reflecting the increase in benchmark long-term interest rate, The Nikkei reported. The rate increase takes effect in June.

* Chiba Bank Ltd. formed a business tie-up with Japan's largest insurance brokerage company, Hoken No Madoguchi, as part of efforts to expand the former's insurance product line and boost fee income, The Nikkei reported.


* The board of the Bank of Thailand approved the appointment of Pakorn Nilprapan as a member of the central bank's financial institutions policy committee, effective June 1, Manager Daily reported.

* Thailand's cabinet approved a financial restructuring plan for Islamic Bank of Thailand after the bank posted an accumulated loss of 28.2 billion baht, Manager Daily reported, citing Nattaporn Jatusripitak, an adviser to the office of the country's prime minister.

* The Indonesian Investment Coordinating Board signed a memorandum of understanding with Standard Chartered Bank - Indonesia Branches to attract more Asian, African and Middle Eastern investors into the country, The Jakarta Post reported.

* Moody's assigned first-time credit ratings and assessments to China Banking Corp., with a stable outlook. The rating agency said it assigned the bank long- and short-term local- and foreign-currency deposit and issuer ratings of Baa2 and P-2, respectively. Further, the Manila-based bank was assigned a baseline credit assessment and adjusted baseline credit assessment of "baa3" and long- and short-term counterparty risk assessments of Baa2(cr)/P-2(cr).


* The Reserve Bank of India is expected to maintain interest rates during a June 7 review, Reuters reported, citing a poll. The policy is expected to be less "hawkish" than before.

* Ballarpur Industries said it would issue 51% equity shares to its lenders under the strategic debt restructuring mechanism, giving them the management control. The company has more than 60 billion rupees of consolidated debt, Press Trust of India reported.

* Russian cybersecurity firm Group-IB said Lazarus, a cybercrime group allegedly sponsored by the North Korean government, was behind the heist of Bangladesh Bank's funds at the Federal Reserve Bank of New York in 2016, The Financial Express reported.


* The Australian Securities and Investments Commission will investigate if any "unexplained or unusual" profits were made through share trading of five major banks on the day of the budget after news of a possible bank tax spread, The Sydney Morning Herald reported. The banks dropped a combined A$14 billion in market value on May 9.

* Teachers Mutual Bank Ltd. will now require a minimum of 50% principle and interest component on all mortgages except for new builds by owner-occupiers as it looks to clamp down on interest-only loans, The Australian reported.

* ANZ Wealth is introducing 13 separately managed accounts to its wrap investment platform to cut complexities with investment and allow greater transparency, Financial Standard reported.


Middle East & Africa: Liberty Holdings names new CEO; BMCE Bank Q1 profit drops

Europe: Ireland launches AIB listing; Generali sells Intesa stake; ESMA wants new powers

Latin America: Grupo Aval's Q1 profit up 25.8%; Banco Davivienda's falls 23.2%

North America: Goldman Sachs faces protest after $2.8B bond deal; Cohen planning comeback

North America Insurance: US weather drives '17 insured losses; insurers may move billions into debt ETFs

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.

Sally Wang, Sarun Saelee, Cathy Hwang, Emi White and Aditya Suharmoko contributed to this report.

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