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Maybank fully redeems outstanding IT1CS

PETALING JAYA: Malayan Banking Bhd (Maybank) has fully redeemed the entire outstanding amount of RM1.1bil for its innovative Tier-1 Capital Securities Programme (IT1CS).

The RM1.1bil IT1CS was issued on Sept 25, 2008, Maybank said in a filing with Bursa Malaysia. (File pic shows the Maybank headquarters in Kuala Lumpur.)

MIDF says business as usual at CIMB

PETALING: Datuk Seri Nazir Razak’s departure from CIMB Group will not have a negative impact as the group’s fundamentals remain solid.

MIDF Research said in a report that it was neutral on news of the group chairman Nazir Razak's exit as the group could be considered “institutionalised” and does not depend on any one individual.  It noted the group had changed CEOs in 2014 without any negative impact.

Deutsche Bank ordered to take action on money laundering

FRANKFURT: Three years ago, Deutsche Bank AG pledged to improve internal controls to avoid a repeat of fines that had eroded earnings and damaged trust. Yet from the US to Germany, regulators keep spotlighting the lender’s failures.

In the latest reprimand, the German markets regulator on Monday said it ordered Deutsche Bank to improve money-laundering and terrorism-financing controls, and took the unprecedented step of appointing a monitor to oversee the efforts.

Default shock in India sees firms pulling most bonds in decade

MUMBAI: North Eastern Electric Power Corp, an Indian state-run power generator, planned to raise 3 billion rupees (US$41.3mil) selling bonds. It couldn’t manage 5% of that amount, prompting it to scrap the sale on Monday.

Deutsche Bank ordered to take action to prevent money laundering

FRANKFURT: Three years ago, Deutsche Bank AG pledged to improve internal controls to avoid a repeat of fines that had eroded earnings and damaged trust. Yet from the U.S. to Germany, regulators keep spotlighting the lender’s failures.

CIMB shares fall as chairman Nazir steps down

KUALA LUMPUR: Shares of CIMB Group Holdings Bhd fell marginally in early trade Tuesday after the company announced chairman Datuk Seri Nazir Tun Razak is leaving his post.

Indonesia eyes foreign firms for more mergers

JAKARTA: Indonesia has almost 2,000 banks and a currency that has plunged 11% since January, a combination overburdened regulators hope will prove irresistible to foreign acquirers.

Indonesian regulations make it difficult – though not impossible – for foreign banks to invest more than 40% in local lenders. Singapore’s DBS Group Holdings Ltd scrapped a bid to buy PT Bank Danamon Indonesia in 2013 after the ownership rule was introduced.

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