All articles by William Cain
William Cain
The credit card gold mine
Foreign banks given permission to issue yuan-denominated debit and credit cards in China have described the decision as a significant step forward in their operations in the rapidly developing country.Citi, HSBC, Standard Chartered, Bank of East Asia and Hang Seng Bank have been told they can issue the cards if they meet specific criteria set out by the countrys central bank (the criteria remain unspecified)
SBI mega-merger still being planned
The long-running saga of State Bank of Indias proposed merger with six of its associate banks is up for discussion again in January RBI has learned the deal, aimed at bolstering SBIs market share and size, is likely to be delayed again by political considerations
Still wary about UK branch strategies
The UKs top retail banks and building societies are continuing to cut branch numbers across the country, with one out of every seven branches closed down since 1999, according to research carried out by RBI Overall, branch numbers among the UKs biggest banks and building societies have declined by an average of 15.3 percent since 1999.
MUFG still chasing its potential
Mitsubishi UFJ, Japans largest bank, gave investors an update on its future plans after reporting a 49 percent drop in its first-half profits In terms of retail banking, the bank has targeted improved sales of insurance and investment products as well as better online distribution
BBVA bets big in the US
BBVA chairman Francisco Gonzlez is targeting double-digit profit growth figures across the companys markets over the next three years, driven by cost cutting and customer acquisition.He expects the biggest returns in Mexico, with growth of 20 percent a year until 2010
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Stirred into action
Despite calls from an activist investor for widespread strategic reform even a possible break-up HSBC remains committed to growing its huge global franchise, although it will now sell underperforming parts of its business Emerging markets, insurance and the mass affluent segment remain priorities, writes William Cain.
Adding value
Deutsche Postbank is looking to revamp its network in an effort to draw more people into its branches and increase sales As part of the initiative, the bank is trying out three different methods to reduce waiting times; the best system will be adopted and applied to all its branches
The next seven years
The latest survey from Boston Consulting Group says that while retail banking accounted for 1.22 trillion (57 percent) of the global banking revenue pool of 2.15 trillion in 2006, it is expected to grow to 1.62 trillion by 2015, driven by emerging markets, deregulation and channel extension Retail banking will remain the dominant source of revenue for the worlds banks to 2015, according to the latest industry annual report by US consultancy Boston Consulting Group though banks will need to expand their consumer bases both domestically and in emerging markets to overcome intensifying competition and declining margins around the globe.The reports lead author, Reinhold Leicht-fuss, said the changing business environment would mean there would be a more varied set of successful business models in the future