China Financial Daily

November 3, 2008

Banking Industry under the Financial Crisis

Filed under: Financial News — Tags: — kinpoo @ 10:13 pm -0800

Impacted by the financial crisis, six major banks of Japan lost ultra-trillion in a half year.
According to the “Japanese Economic News,” the latest news Web site, which started in the United States has already begun on the financial crisis in Japan’s big banks have a significant impact on performance. Summary of financial results showed that the six major banks with Mitsubishi UFJ Financial Group as the leader in the first half of fiscal year (April-September) lost more than 1 trillion yen.

Societe Generale’s Bank’s profit fell by 83.7% in the third quarter.
To appease investors, France’s third-largest bank
Societe Generale’s Bank [12.53 -0.16%] announced the third quarter financial results  yesterday, three days ahead of schedule, which reported third quarter net profit dropped sharply by 83.7 %,but said the bank’s financial health is stable enough to withstand financial crisis.

Central Bank of Oman offer U.S. dollar to help local banks.
According to the Xinhua News Agency, Central Bank of Oman made a decision at any time to meet the local banks’ demand of U.S. to help them tide over dollar shortage crisis.

 

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