| TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT
2007-11-21 09:12:28 Japan's Mitsubishi UFJ H1 net profit falls 49 pct TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan's largest banking group, said Wednesday its first-half net profit fell 49 percent, reflecting writedowns for its struggling credit card business and losses related to its subprime loan exposure. 2007-11-21 08:54:22 EU mortgage reform white paper to propose making early repayment easier - report FRANKFURT (Thomson Financial) - The European Commission's long-awaited white paper on the mortgage industry will make it easier for customers to pay off their mortgages early, a report in German daily Boersen-Zeitung says. 2007-11-21 08:49:35 Swiss Re CEO sees no 'fundamental changes' at Financial Services ops ZURICH (Thomson Financial) - Swiss Re chief executive Jacques Aigrain said he sees no "fundamental reason" for a change in the reinsurer's strategy regarding its Financial Services segment but pledged to more closely monitor risks.
(AFX UK Focus) 2007-11-21 09:30 GMT: TFN NEWS BRIEFING: Banking and insurance highlights to 09:15 GMT
2007-11-21 09:12:28 Japan's Mitsubishi UFJ H1 net profit falls 49 pct TOKYO (Thomson Financial) - Mitsubishi UFJ Financial Group Inc, Japan's largest banking group, said Wednesday its first-half net profit fell 49 percent, reflecting writedowns for its struggling credit card business and losses related to its subprime loan exposure. 2007-11-21 08:54:22 EU mortgage reform white paper to propose making early repayment easier - report FRANKFURT (Thomson Financial) - The European Commission's long-awaited white paper on the mortgage industry will make it easier for customers to pay off their mortgages early, a report in German daily Boersen-Zeitung says. 2007-11-21 08:49:35 Swiss Re CEO sees no 'fundamental changes' at Financial Services ops ZURICH (Thomson Financial) - Swiss Re chief executive Jacques Aigrain said he sees no "fundamental reason" for a change in the reinsurer's strategy regarding its Financial Services segment but pledged to more closely monitor risks.
Uganda: Speed Up Credit Reference Bureau
ONLINE trading, an important aspect of business has continued to suffer as banks remain reluctant to issue credit cards. Of the 14 bank operating in the country only Barclays Bank offers credit cards and the service is limited to its prestige-banking customers who are those with a monthly income of more than one million. .
Press Release
Help for consumers who experience a problem with a bank or other financial institution is just a click, or a phone call, away. Federal Reserve Consumer Help is a new centralized resource that consolidates and streamlines the Federal Reserve�s consumer complaint and inquiry program. Helpful customer service professionals are available to answer questions and assist with a wide range of issues relating to financial products and services and consumer protection laws. �For more than 30 years, the Federal Reserve has put its expertise to work to answer consumers� questions and help them resolve problems with financial institutions,� said Federal Reserve Board Governor Randall S. Kroszner. Over the years, the Federal Reserve has helped an estimated 150,000 consumers. The Federal Reserve is responsible for ensuring that the financial institutions it supervises comply with consumer protection and fair lending laws, such as those governing checking and savings accounts, credit cards, and consumer loans including mortgages. It is also responsible for ensuring that consumers have a mechanism for identifying banking acts or practices that may require further investigation or possible regulatory action.
BUSINESS IN BRIEF 20/11
Both Ho Chi Minh City and Ha Noi bourses declined by the end of the November 20 trading session .
The VN-Index at the Ho Chi Minh City Stock Exchange (HoSE) dipped by 15.23 points to finish the session at 983.52 points. Almost 7.4 million shares worth 758 billion VND changed hands.
Experts said the drop was attributable to massive sell-out by investors to minimise losses at forecasts that the index may slide to the 950-point mark.
The HaSTC-Index at the Ha Noi Securities Trading Centre (HaSTC) fell 4.86 points at today's trading session.
By closing, the index stood at 340.12 points, seeing over 2.2 million shares worth 250 billion VND traded. ANZ issues credit cards in Vietnam
The Australia and New Zealand Banking Group Ltd.
Banking credits expected to grow at 24 pct this year
Director of Banking Management and Research Affairs of Bank Indonesia (BI), Halim Alamsyah, said the central bank had estimated banking credits in 2007 would grow by 24 percent. "Up to the third week of October 2007, the growth of banking credits had reached 23.95 percent driven by consumption credit expansion," he said on the sidelines of a seminar on financial stability research at Bank Indonesia`s office building here on Monday. The central bank has set the lending growth target at 22 percent in 2007. He said consumption credits had increased due to expansion of lending on credit cards. Credit growth was also driven by increasing demand for credits in the investment and working capital sectors at the end of 2007. "There is credit expansion for investment and for working capital," he said.
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