Business - Banking latest news

Skipton Building Society has announced that it is launching a new issue of its range of Pick N Fix bonds.

The Financial services Authority of UK has imposed a public censure on Mandrake Associates for failings in the way it handled mortgage endowment complaints.

The National Australia Bank has launched NAB Clear Banking Home Loan, a new home loan with no early exit fees, no bank discharge or settlement fees and no monthly account keeping fees.

First Defiance Financial has reported that its net income for the second quarter ended June 30, 2008 totaled $2.74 million, or $0.34 per diluted share, a decrease as compared to $3.61 million or $0.50 per diluted share for the same quarter of 2007.

Citi has announced that Michael Klein, chairman of its institutional clients group will leave the company to pursue other opportunities.

Bank of america has reported a second-quarter 2008 net income of $3.41 billion, down from a net income of $5.76 billion recorded in the comparable quarter of 2007.

Fidelity International's Indian asset management company has launched the Fidelity Flexi Gilt Fund, an open ended gilt scheme that aims to generate sovereign linked returns primarily through investments in securities issued by the central or state government or any security unconditionally guaranteed by the central or state government.

(22 July 2008) - The Asian Development Bank is extending a $170 million loan to Bangladesh to cope with the current food crisis.

(22 July 2008) - Economic growth in emerging East Asia will moderate to 7.6% in 2008 and 2009 from 9.0% in 2007 as the region weathers a global economic slowdown, sharp rise in food and energy prices and volatility reigns in financial markets, says a new report by the Asian Development Bank.

Capital Southwest, a venture capital investment company, has appointed Gary Martin, current president and CEO, as chairman of the company's board.