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Citibank Hong Kong calls for media agency review

2015050615:26
job search headhunt hk Citibank has kick started a global review of its media agency relations, with Hong Kong to be part of the tender process. Citibank’s incumbent media agency in Hong Kong is MEC, a partnership that has spanned more than 10 years. A spokesperson from MEC confirmed to Marketing that the Hong Kong office has received a heads-up from Cit...
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China banks’ 2015 profit growth seen below 5%: DBS Vickers

2015050615:24
job search headhunt hk Chinese banks are likely to see their net profit grow by low-single digit in percentage terms this year due to narrowed interest rate spreads and worsening asset quality, DBS Vickers said on Monday. Net profit expansion of the lenders will be in the zero to five percent range compared to the level in 2014, with state-owned banks posting...
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Local bonds no easy sell to China's banks

2015050517:49
Job search headhunt hk Given the huge debt burden at commercial banks, the PBOC may have to keep pumping cash to expand the loan swap programme. Just how much cash will the People's Bank of China need to hand out to get commercial banks into local government bonds? Some experts say it might have to finance the whole thing. Industry watchers were surprise...
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China Banks’ Worst Year Since 2004 Seen as ICBC’s Bad Loans Jump

2015043015:44
Job search headhunt hk Industrial & Commercial Bank of China Ltd. reported a 21 billion yuan ($3.4 billion) jump in soured credit in the first quarter, the biggest increase since at least 2008, in a filing on Wednesday. ICBC, China Construction Bank Corp., Agricultural Bank of China Ltd, Bank of China Ltd. and Bank of Communications Co. all this week repor...
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Bank reports prompt jitters for the indexes

2015043015:42
Job search headhunt hk Both Hong Kong and mainland stocks at one stage fell yesterday as two major Chinese banks reported weaker first-quarter earnings. But both indexes recovered towards closing. The Hang Seng Index ended just 42 points lower at 28,400, while the Shanghai Composite Index closed flat at 4,476 points after touching an intra-day low of 4,398. Ba...
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What HSBC’s potential UK exit means for Barclays

2015042918:07
Job search headhunt hk That’s according to analysts at Bernstein, who put out a note Friday after HSBC revealed that it is considering leaving the UK, 22 years after relocating its headquarters from Hong Kong to London. The Hong Kong Monetary Authority responded today by saying that it would take “a positive attitude should HSBC consider relocating...
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Report: Drastic streamlining for SOEs

2015042918:06
Job search headhunt hk Stocks surge on belief that restructuring and mergers will create globally competitive giants The nation may slash the number of central State-owned enterprises to 40 from 112 at present through large-scale mergers as part of a broad plan to reform the inefficient State sector, a report in China's official media said on Monday. "...
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Macquarie said to cut Asia banking workforce as deals fizzle

2015040316:34
Job search headhunt hk Macquarie Group Ltd plans to cut about half of its investment-banking workforce in Asia as chief executive officer Nicholas Moore reshapes the firm, people familiar with the matter said. About 80 to 90 jobs would be eliminated in the reductions, one of the people said, asking not to be identified because the decisions are confidential. J...
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Macquarie said to cut Asia banking workforce as deals fizzle

2015040316:34
Job search headhunt hk Macquarie Group Ltd plans to cut about half of its investment-banking workforce in Asia as chief executive officer Nicholas Moore reshapes the firm, people familiar with the matter said. About 80 to 90 jobs would be eliminated in the reductions, one of the people said, asking not to be identified because the decisions are confidential. J...
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CIPS set to grant clearing business to foreign banks

2015040316:33
Job search headhunt hk China's launch of its international payment system (CIPS) this year should end the monopoly that the country's yuan clearing banks enjoy, giving foreign banks a share of the mushrooming yuan clearing business. Seven of the 20 banks selected to participate in the system initially are foreign, sources told Reuters. About 80 percent ...
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