The private banking segment of Singapore's DBS made a statement on Monday that it anticipates a yearly growth rate of 20 to 30 percent in the total new assets from China, Indonesia and India. It added that it is all set to expand in the fastest growing markets in Asia for millionaires.

The Australian dollar might get a boost if the country’s central bank, the Reserve Bank of Australia raises its interest rates in a meeting scheduled for Tuesday.

The warning swayed for the borrowers by the banking industry that if retail banks need to gear up their lending rates by over and above the Reserve Bank's modifications, they will.

The competition authority of France has imposed a fine to 11 French banks of 381.1 million euros for the crime of fixing cheque handling fees. According to reports, an unjustified fee of 4.3 cents was imposed on four-fifth of the cheques passed on in France during January 2002 to July 2007.

A group of 11 international banks have been fined to a total of $530 million for the colluding on the price of fee they charged their customer by the French authorities.

The chairman of HSBC bank, Stephen Green has became the most suitable man to become the trade minister for the coalition government but the appointment has not been finalized yet and expected to be announced within next
48 hours.

Many high profile business leaders have been approached for the role of trade minister but certainly Mr. Stephen Green looks as the best choice.

Britain's first new high street privately owned retail bank, Metro Bank has crossed its own target by achieving its one-year target for customer accounts within 5 weeks of the opening its first branch in London's Holborn district.

Metro Bank is an independent bank, supported by millionaire Vernon Hill, also the founder of same banking business in America in the 1970s.

The Royal Bank of Scotland has announced that it will cut about 3500 jobs from its back office and technical division in the UK and the bank is 80% owned by the government of UK.