Commercial banks

Lloyds Banking Group agreed on a sale of its loan asset portfolio from its BOS International Australia unit to Bain Capital's Sankaty Advisors.

IILM Corp's debut sukuk was oversubscribed according to reports. The International Islamic Liquidity Management Corp, which is based out of Malaysia, announced on Monday that it had auctioned USD490 milion in sukuk bonds.

SABB, which is partially owned by HSBC, has been busy preparing for a sukuk bond issue by year's end.

Sources revealed that France-based Societe Generale would be issuing a USD 300 million Islamic bond program in Malaysia.

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Wells Fargo said it had intended to expand its fund services clients in the Asian region by as much as 20% a year.

HopeFed Bancorp Inc. announced today that it had signed a Mutual Termination Agreement to end a previous merger contract with Sumner Bank & Trust of Gallatin Tennessee.

JP Morgan Chase & Co. said that it would halt receiving any new businesses from foreign banks neither would it accept new clients.

An analyst said that if JPMorgan Chase & Co would have broken up into its four core businesses, it would be 30% more valuable to its shareholders.

Barclays Bank of Kenya signed a financing deal with the African unit of British oil explorer Marriott Drilling worth USD 13 million.

Oman Development Bank said it would consider opening an Islamic window to provide financial services to small and medium-sized companies.

The Bank of Sharjah said it had signed a loan refinancing facility worth USD 200 million with five lenders.

A state think-tank said Chinese banks have reduced loans on property developments in smaller cities because of the glut in unsold homes there.

Fiat announced the renewal of its cooperation agreement with Brazilian bank Itau Unibanco. Fiat (acronym for Fabbrica Italiana Automobili Torino) renewed its commercial cooperation agreement with Itau Unibanco.

Ten more Slovenian banks would undergo external stress tests commissioned by the Slovenian central bank.