Business - Banking latest news

Citi Handlowy and MetLife Towarzystwo Ubezpieczen na Zycie have launched a subscription for Treasures of Russia Investment Life Insurance.

Friends Provident International has increased allocation rates for new investors on two of its regular premium savings plans - Premier, and Premier Ultra.

Burgan Bank has acquired 43.86% stake in Jordan Kuwait Bank from United Gulf Bank having obtained the necessary regulatory approvals, taking its total stake in Jordan Kuwait Bank to 51.1%.

HSBC has announced that it is rolling out a new plan to enhance its services to the mass community, including the introduction of a small-size personal loan, priority service for senior citizens, and a children savings account without minimum balance requirement.

Amcore Bank has promoted Steven Gersch, senior vice president and senior credit officer, to chief credit officer of the bank.

(18 July 2008) - Mr. Tadao Chino, former President of the Asian Development Bank, passed away in Tokyo, Japan, Thursday at the age of 74.

Zurich Financial services has introduced an additional range of funds across its pension and investment proposition.

CNinsure, an insurance agency and brokerage company operating in China, has signed a set of definitive agreements with several individual entrepreneurial agents to jointly establish a new insurance agency named Jiangxi Fanhua Insurance Agency, expanding its market presence to Jiangxi Province in central China.

People's United Financial, a diversified financial services company, has appointed Paul Burner as senior executive vice president and CFO of the company and its principal subsidiary, People's United Bank, effective August 5, 2008.

Pacific West Bank, a community bank, has reported a net income of $12,000 or $0.01 per diluted share for the second quarter ended June 30, 2008, compared to $82,000 or $0.11 per diluted share for the same period of 2007.