CBA profits up 19%, wealth management struggles

The CBA has recorded a statutory net profit after tax for the half year ended Dec 31 2011 of $3.624 billion, a 19% increase on the previous corresponding period, in a strong result unaided by its wealth management arm which recorded a loss.


Indians have $500 billion ‘stashed in tax havens’

He said getting information about such illegal transactions is a time taking process as investigators have to peel each layer by sending judicial requests to the country where such deposits have been made.


Taiwan may allow yuan-based wealth management investment

An official of the Financial Supervisory Commission (FSC) said on Monday that it was looking into ways to allow Taiwanese to open accounts at Hong Kong or mainland branches of Taiwan banks without having to go to the branches in person.


More Swiss banks may head for Singapore

The last five years have seen numerous Swiss banks and European banks set up operations in Singapore, due to a growing trend towards transparency in various jurisdictions, said Mr Edmund Leow, a principal at law firm Baker & McKenzie.Wong & Leow.