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September 05, 2005

Daily Tid-bits

* OCBC adds new risk manager from CIBC, shuffles execs.
* Beijing Rural Credit Cooperatives expects to complete its reorganization in October and re-launch as Beijing Rural Commercial Bank, incorporating 141 former cooperative entities. A RMB5bn share placing is underway, and the central government will bolster capital with an RMB2bn buyout of NPLs, which post reorganization are described only as "below 15 per cent."
* Singapore's DBS named "Best Asian Bank" by Financeasia.
* HK's "outlaw" insurance companies keep selling policies to mainlanders.
* Private equity funds increasingly target banks, especially in China.

Posted by The Banker at September 5, 2005 11:00 AM

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