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COPYRIGHT 2006 Asia Pulse Pty Ltd
An executive briefing on banking for Feb 28, 2006, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
CHINA ESTABLISHES WORLD'S LARGEST PERSONAL CREDIT INFO DATABANK
BEIJING - The world's largest personal credit information databank has been put into operation in China, with the number of persons covered reaching 486 million by late January, the People's Bank of China has said.
Su Ning, vice-governor of the central bank, said at a national conference over the weekend that almost every Chinese citizen who is economically active is now covered by the databank.
VIETNAM'S VP BANK SET TO SELL 10% STAKE TO SINGAPORE'S OCBC
HANOI - The joint-stock VP Bank is working with Singapore-based Overseas Chinese Banking Corporation (OCBC) (SGX:039) on a deal to sell 10 per cent of the Vietnamese bank's shares to OCBC, according to a banking source.
Although OCBC has not yet confirmed the news, some sources believe the bank sent representatives to Vietnam recently to survey VP Bank's operations. Sources also indicated that both sides plan to finalise the deal with a memorandum of understanding (MOU) on shares drafted by the end of February.
CHINA MINSHENG BANK POSTS 33% JUMP IN 2005 PROFIT
BEIJING - Shanghai-listed China Minsheng Banking Corporation (SSX:600016) announced on February 27 that its net profit for the year of 2005 reached 2.703...
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