Banking on reforms: analysts predict brighter days ahead

Article Abstract:

The government of Singapore is encouraging banks to divest their noncore assets and concentrate on primary banking and financial services, and analysts are forecasting improvement for the industry. Graphs accompanying the article outline weekly closes of four banks in Singapore.

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Crosby hands over a controlling stake in stockbroking unit to Societe Generale

Article Abstract:

Societe Generale increased its stake in Asia's Crosby group, from 49% to 75%, through the acquisition of a 26% interest in Crosby Securities, and now has control of the entire stockbroking unit. Crosby's holding company, Crosby Financial Holdings Ltd., is left with a 25% interest in Crosby Securities. The French bank and Crosby are planning to each provide $20 million in capital to Crosby Securities. Crosby Chmn. and founder will remain the brokerage firm's CEO until Societe Generale has chosen a successor.

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Bangkok's measures fail to spur interest in finance shares

Article Abstract:

Thailand's efforts to bolster its banks and finance firms appeared to fail in luring investors to buy finance shares. According to a few fund managers, they have been purchasing Thai banking stocks largely because of the finance shares' rock-bottom prices. The government also has provided banks with more time to satisfy new minimum loan-loss prerequisites.

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