JAPAN
CQG announced that it has entered into an order routing service broker contract with Dot Commodity, Japan’s largest online commodity futures broker.
KOREA
South Korea’s Financial Supervisory Service is tightening supervision of credit card companies on worries that their easy loans may lead to default crises.
TAIWAN
Government-owned Bank of Taiwan plans to sign a cooperation agreement with Industrial & Commercial Bank of China Ltd. to help develop ties and enable the exchange of information.
Philippines
Bank of the Philippine Islands first quarter profit up 4.5% to $65mn, surpassing last year’s $62.67mn profit.
AUSTRALIA
National Australia Bank is in talks with potential partners to jointly bid for 600 UK Lloyds Banking Group branches as it considers bulking up prior to an exit from Britain in 3 to 4 years.
ASIAN BANKING AND FINANCE | JUNE 2011 9