DBS Bank appointment: related news

DBS Bank appointment

DBS Bank has announced Mr Rahul Johri as the new head for its consumer banking division in India. Mr Rahul would also be a member of the Group Consumer Banking Executive Committee at DBS Bank. Mr Rahul brings with him extensive experience of consumer banking, having spent seventeen years of his career between ANZ Grindlays, Standard Chartered Bank and Barclays Bank. Prior to joining DBS Bank, Mr Rahul worked with Barclays Bank, India and held the post of Business Head - Retail Liabilities. He was part of the start-up team for Barclays Bank, India and also developed the alternate channel strategy for the retail bank. - Our Bureau

Ganz Calls On Bank of Israel to Establish Credit Fund

Ramat Gan, Israel, December 17, 2008: Israel Diamond Manufacturers Association (IsDMA) president Moti Ganz has called upon the Bank of Israel to intervene in the terms of credit made available to the Israeli diamond industry. In a letter sent this week to Stanley Fischer, governor of the Bank of Israel, Ganz proposed that the Bank establish a $2.25 billion credit fund for the diamond industry out of the central bank’s foreign exchange surplus. This credit would be made available to diamantaires through the banks financing the industry -- Union Bank, Israel Discount Bank, Bank Leumi, First International Bank and Mizrahi Tefahot Bank. Diamantaires would continue to pay individualized margins according to the company’s level of risk, but would save the cost of raising the funds (the London Interbank Offered Rate, or LIBOR).

State Bank Corp. Declares Cash Dividend

LAKE HAVASU CITY, Ariz., Dec. 20, 2008 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ), the holding company for Mohave State Bank, today announced the declaration of its fourth quarter cash dividend to shareholders. The Board of Directors of State Bank Corp. declared a quarterly cash dividend of $0.10 per share payable to shareholders of record on January 9, 2009. The dividend will be paid on or about January 22, 2009. About the Company State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County, with $368 million in assets as of September 30, 2008. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals.

Russia's Alfa Bank says buys stake in smaller rival

MOSCOW, Nov 30 (Reuters) - Russia's Alfa Bank has bought a controlling stake in a distressed regional rival, it said in a statement on Sunday, further evidence that a global squeeze on credit is troubling Russia's sprawling banking sector. Alfa Bank, the country's biggest private bank, had been looking for takeover targets among Russia's 1,000 banks during the global economic downturn which has hit the Russian banking sector hard and forced it to consolidate. 'Today, Alfa Bank, has announced the acquisition of a controlling stake in leading bank Severnaya Kazna,' Alfa Bank said in a statement. 'In conjunction with the Central Bank of Russia and the Deposit Insurance Agency, Alfa Bank will make efforts to stabilise and strengthen the position of Severnaya Kazna in the Urals' banking sector.

VTB finalizes acquisition of 51% stake in Azerbaijan's AF-Bank

MOSCOW. Dec 9 (Interfax) - VTB Bank (RTS: VTBR) has finalized the acquisition of a 51% stake in Azerbaijan's AF-Bank, the Russian bank said in a statement. AF-Bank will be renamed VTB Bank (Azerbaijan) in the near future. VTB decided to acquire a controlling stock interest in AF-Bank as part of a strategy to expand the VTB Group's presence in CIS countries. In entering the Azerbaijani market, VTB expects to contribute to the development of bilateral trade and economic relations between Baku and Moscow. VTB Bank (Azerbaijan) will support intergovernmental programs and also participate in large Russian-Azerbaijani projects that are being carried out with Russian capital, the statement says. The National Bank of Azerbaijan approved the purchase in November.

UPDATE 1-Bank of America dashes China bank sale talk, CCB falls

By Clare Jim and Donny Kwok HONG KONG, Dec 15 (Reuters) - Shares in China Construction Bank, the country's most valuable lender, slid more than 4 percent on Monday even after Bank of America poured cold water on a local newspaper report it planned to unload its stake in the Chinese bank at a discount. The No. 3 U.S. bank, which owns 19.13 percent of Construction Bank, aims to sell 3-6 billion of the Chinese lender's Hong Kong shares at a discount of 13-17 percent to its Friday close, raising up to $3 billion, the Apple Daily cited unidentified market sources as saying. Both the U.S. firm -- which is slashing up to 35,000 jobs over three years to save $7 billion and offset an erosion of business from a global economic downturn -- and a source close to Construction Bank, denied the report.

Bank of China not seen any RBS notice to sell-report

SHANGHAI, Dec 30 (Reuters) - Royal Bank of Scotland has not expressed any intention to sell the Hong Kong-listed shares of Bank of China as a lock-up period expires this month, the Oriental Morning Post reported on Tuesday. The newspaper cited Bank of China spokesman Wang Zhaowen and noted that if the British bank wished to sell the shares, it had to ensure price stability. According to the terms of the contract, BRS must inform Bank of China one month ahead of any planned share sale, but the Chinese lender has not received such notice yet, the Chinese-language newspaper said. Reuters could not immediately reach Bank of China for comments. The report came amid talks that RBS, hit by the global financial crisis, was considering reducing its stake in Bank of China to increase liquidity.

KASB Bank and Atlas Bank merger fails to materialise

KARACHI (December 29 2008): The merger between KASB Bank and Atlas Bank failed to materialise as the valuation of Atlas Bank Limited underwent a change after it availed a Rs 2.7 billion liquidity facility from the State Bank of Pakistan. According to informed source the valuation of Atlas Bank shares, after due diligence, was estimated at Rs 3.7 billion.

Murugappa, DBS Bank as Promoters to pump 300 crore in Chola DBS

CHENNAI: Murugappa group companies and DBS Bank of Singapore will be pumping in, subject to approvals, Rs 300 crore ( Rs 150 crore each) into Cholamandalam DBS Finance, by subscribing to convertible preference shares at premium, to shore up the non-banking finance company’s capital base and step up its disbursements.

SBI, Bank of India abandon plans to revive branches in Pakistan

and Bank of India have dropped their plans to revive their branch operations in Pakistan. While the banks have denied that their rethink has any connection to the tension between India and Pakistan, the timings for the call-off is significant. The bank managements say they were forced to take a decision as Pakistan has hugely raised the minimum capital requirements of foreign banks that want to venture into the country. Both the banks had approached Pakistan s apex bank, State Bank of Pakistan (SBP), in September 2008, to seek an approval to re-start their banking activities that existed in the cities of Karachi and Lahore till 1965. Pakistani banks like United Bank of Pakistan and Habib Bank too have not approached RBI so far to obtain branch opening permissions in India.

DBS bank India appoints Rahul Johri as the Head, Consumer banking

DBS Bank, one of the leading banks in Asia, has announced Rahul Johri as the new Head for its Consumer Banking division in India. Rahul would also be a member of the Group Consumer Banking Executive Committee at DBS Bank.

West Coast Bank Donates $5,000 to Police Bombing Victims

LAKE OSWEGO, Ore., Dec. 20 /PRNewswire-FirstCall/-- West Coast Bank has contributed $5,000 to the benefit funds of the Woodburn police officers who were victims of last week's bombing at the bank. Two officers were killed and one critically injured after a bomb exploded in the Woodburn West bank lobby. West Coast Bank has established benefit accounts for all three officers. Deposits to the accounts can be made at any of West Coast Bank's 64 branches. Regional President Ken Jundt said, "We at West Coast Bank share with the community the grief and profound sense of loss from this senseless tragedy. It's our hope that the benefit accounts for the Woodburn police officers will be of help to the bereaved and suffering families." West Coast Bancorp, (Nasdaq: WCBO), one of Oregon Business Magazine's 100 Best Companies to Work For, is a Northwest

GMAC Financial Services Bank Holding Company Application Approved by Federal Reserve

NEW YORK, Dec. 24 /PRNewswire/ -- GMAC Financial Services today announced that its application to become a bank holding company under the Bank Holding Company Act of 1956, as amended, has been approved by the Board of Governors of the Federal Reserve System. In addition, GMAC Bank has received approval from the Utah Department of Financial Institutions (UDFI) to convert to a state bank. As a bank holding company, GMAC will have expanded opportunities for funding and access to capital, which will provide increased flexibility and stability. "Today's announcement marks a key turning point in GMAC's history," said GMAC Chief Executive Officer Alvaro G. de Molina. "As a bank holding company, GMAC will be competitively positioned for the long-term to provide financing to auto and mortgage consumers and businesses such as automotive dealers.

Caixa Catalunya selling 824 bank branches - paper

MADRID, Dec 14 (Reuters) - Spanish savings bank Caixa Catalunya is seeking to sell 824 of its 1,200 buildings in Spain in a bid to raise 500 million euros ($663.4 million), La Vanguardia reported on Sunday, citing sources at the bank. The bank wants to strike a deal with potential buyers to continue to rent the branches, with a buy-back option for 10, 15 and 20 years, and wants to sell them in lots of 5 million euros, which would include 10 to 15 premises, the paper said. The bank is in particular targeting its private banking clients as potential buyers, it added. Its head office in Barcelona is not up for sale, added the report. No one was immediately available at the bank on Sunday to comment. Other Spanish banks have also closed leaseback deals on their property, notably Spain's largest bank Santander, which has sold more than 1,150 o

Bank of Israel: Most customers pay lower bank fees

A Bank of Israel report belies the public's feeling that bank fees rose as a result of the reform and the Bank Fees Supervision Law that came into effect in July. A survey by the Supervisor of Banks Rony Hizkiyahu is based on household bank fees data from the five large banks for the third quarter of 2008, the first quarter since the reform was instituted.

Ted Peters, CEO of Bryn Mawr Bank Corporation, Elected To The Federal Reserve Bank of Philadelphia Board of Directors

BRYN MAWR, Pa. (Business Wire) -- Bryn Mawr Bank Corporation (NASDAQ: BMTC), (the “Corporation�), parent of The Bryn Mawr Trust Company (the “Bank�), today announced that Ted Peters, Chairman and CEO, has been elected to serve on The Federal Reserve Bank of Philadelphia Board of Directors for a three year term beginning January, 2009. Mr. Peters was elected by member banks of the Federal Reserve Bank of Philadelphia.

Bank of Commerce Holdings(TM) Announces Fourth Quarter Cash Dividend of $0.08

REDDING, Calif., Dec. 17 /PRNewswire-FirstCall/ -- Patrick J. Moty, President & CEO of Bank of Commerce Holdings (Nasdaq: BOCH - News), a $725 million financial services holding company, and parent company of Redding Bank of Commerce(TM), Roseville Bank of Commerce(TM), Sutter Bank of Commerce(TM) and Bank of Commerce Mortgage(TM) today announced a cash dividend of $0.08 per share for the fourth quarter.

Bank of Commerce Holdings(TM) Announces Fourth Quarter Cash Dividend of $0.08

REDDING, Calif., Dec 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- BOCH | Quote | Chart | News | PowerRating -- Patrick J. Moty, President & CEO of Bank of Commerce Holdings (Nasdaq: BOCH), a $725 million financial services holding company, and parent company of Redding Bank of Commerce(TM), Roseville Bank of Commerce(TM), Sutter Bank of Commerce(TM) and Bank of Commerce Mortgage(TM) today announced a cash dividend of $0.08 per share for the fourth quarter.

Serbia: KBC Bank Serbia to hike share cap by EUR 35 M in '09

KBC Bank Serbia, the local unit of Belgium's KBC Group, plans to increase its share capital by EUR 35 million in 2009, the bank said. Following the capital hike, the bank plans to increase the number of subsidiaries from 65 to 73, adding that additional 110 people would be employed, which means that at the end of 2009 the bank's employees in Serbia would reach 700, the bank's Executive Board President Avram Milenkovic, said.

15:08 - Serbia: KBC Bank Serbia to hike share cap by EUR 35 M in '09

KBC Bank Serbia, the local unit of Belgium's KBC Group, plans to increase its share capital by EUR 35 million in 2009, the bank said. Following the capital hike, the bank plans to increase the number of subsidiaries from 65 to 73, adding that additional 110 people would be employed, which means that at the end of 2009 the bank's employees in Serbia would reach 700, the bank's Executive Board President Avram Milenkovic, said.

Central Bank's assets slip 0.6% in Oct

MOSCOW. Dec 4 (Interfax) - The Central Bank's assets decreased by 96.7 billion rubles, or 0.6%, to 15.082 trillion rubles in October, the bank said on its website. Out of total liabilities, funds in the Central Bank's accounts went down by 279.4 billion rubles, or 2.9%, to 9.322 trillion rubles. Russian government funds went down by 239.5 billion rubles, or 3.3%, to 6.926 trillion rubles. Bank funds decreased by 143.2 billion rubles, or 14.2%, to 866.6 billion rubles. Out of total assets, funds provided by the Central Bank as loans and deposit placements increased by 370%, or 1.191 trillion rubles, to 1.515 trillion rubles. In addition, total funds placed by non-residents and in foreign- denominated securities went down by 9.2% to 1.273 trillion rubles.

RBS may take onus on refunding bank charges

The High Street bank Royal Bank of Scotland has indicated that if it loses the High Court battle over bank charges then it will be looking at taking the onus on itself to pro-actively refund bank charges to its customers. At present RBS is one of a number of banks that are fighting the court battle against the Office of Fair Trading over bank charges.

D.L Rawal new CMD of Dena Bank.

MUMBAI: Dena Bank on Thursday informed the BSE that the Central govt in consultation with the Reserve Bank of India has appointed Mr D.L Rawal, at present Executive Director of Canara Bank as Chairman and Managing Director of Dena Bank from the date of t aking charge of the post and up to October 31, 2011. Mr Rawal has taken charge as CMD of the bank from today.

the little bank Completes the Sale of Preferred Shares Under the U.S. Treasury`s Capital Purchase Program

KINSTON, N.C.--(Business Wire)-- the little bank (OTCBB: LTLB) (the "Bank") announced it has completed the issuance and sale of $7.5 million in preferred stock as part of the U.S. Department of the Treasury`s Capital Purchase Program ("TCPP").The little bank closed on these funds on December 23, 2008.The TCPP is designed to attract broad participation from healthy banking institutions to help stabilize the financial system and increase lending for the benefit of the U.S. economy. "This additional capital will give us the capacity to grow our loan portfolio while maintaining healthy capital ratios during this difficult economic cycle," said Vincent R. Jones, CEO of the little bank. Jones added, "As a local community bank, we are very excited about the opportunity to deploy new capital on behalf of our communities and customers.

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