Weak sentiment in China halted a four-day rally in emerging market stocks on Tuesday, though there was no stopping the resurgent rouble as steadier oil and central bank muscle-flexing lifted it to a two-week high.
Bank of Singapore, the private banking arm of Oversea-Chinese Banking Corporation, is back on track to post double-digit growth for 2014, likely as much as 15 percent, said the Business Times, citing its outgoing chief executive.
United Overseas Bank Bhd, a subsidiary of Singapore-based UOB Group, aims to grow its wholesale bank business revenue by 15 per cent in the next two years.
Net profit, meanwhile, was RM4.79 billion, marginally lower by 0.7 percent from the RM4.82 billion a year earlier, owing primarily to a higher tax charge.
Natixis, controlled by Groupe BPCE, France’s second-biggest lender by branches, expects revenue in the region to rise more than 20 percent this year,
Financial services major Reliance Capital today reported 20 per cent rise in its second quarter net profit to Rs 217 crore, helped by robust growth in mutual fund, commercial finance and general insurance businesses.