Offshore Banks may be forced to Consolidate

Until now, offshore private banks in Europe are enjoying stability due to excess liquidity and low asset risk. However, Standard and Poor’s reports that the pressure to sustain profit growth rates may force some private banks to consolidate or acquire their competitors.

Burmese Leaders Eye Hongkong Banks

Singapore banks, which are believed to be the offshore banking destination of Burmese generals has started to distance themselves from the latter, at the urging of the United States. This is reportedly resulting to a quiet, if not frantic, search for new banking centers.