Malaysia

Banking analysts are expecting a slower second half for Malysian banks based on the souring global economic outlook and the banking data released in July.

Analysts are upbeat that the new merged entity between Hong Leong Bank and EON Bank will benefit in the long run.

Higher profit was attributed to higher net interest income, other operating income, income from Islamic banking business and impairment writeback on other assets.

Hong Leong Bank Bhd overcame a slashed fourth quarter profit to end the financial year with an increased net profit.

The fund will have a Shariah- compliant equity exposure of up to 98% of the fund's next asset value.

The app is available in Apple iPhone's iOS, Google's Android OS and the RIM BlackBerry OS platforms.

And according to Reuters, it’s now looking to buy a retail bank in Thailand.

Hong Leong Investment Bank cut its forecasts for CIMB Group's financial years 2011-2013 by 5.2-5.6 per cent due to lower-than-expected loan growth, non-interest income and net interest margin.

The bank partnered with Kony to create the banking app for three smartphones, namely Apple iPhone's iOS, Google's Android OS and the RIM BlackBerry OS.

For 2Q11, the Group’s net profit of RM970m was 5.8% higher than 1Q11.

Maybank's group profit before tax increased to RM6.27 billion for the year ended June 30, 2011.

Group loans grew at its fastest pace in the last decade, touching 21.7%.

The notes were given a long term rating of AA1 by RAM Rating Services.

Rising incomes from loans and fees pushed China Minsheng Bank's first-half profits up by surged 56.98  percent.

Maybank President and CEO Datuk Seri Abdul Wahid Omar says that the Malaysian banking sector will not be affected by the on-going financial and debt crisis in the United States and Europe.

With a minimum investment of $336, the fund gives investors opportunities to benefit from Taiwan’s economic growth.