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BrandingOP Bank Group to be called OP-PohjolaFinnish banking co-operative OP Bank, the countrys second largest financial services group, has announced that the name of OP Bank Group will change to OP-Pohjola Group and that OKO Bank, its main banking subsidiary, will change to Pohjola Bank.The group entered the non-life insurance business with the purchase of Pohjola two years ago, resulting in a dramatic change in the banks structure and business content

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A few days earlier, the group had announced it was setting up a greenfield insurance business in Taiwan; on 13 September, it said it had entered into an agreement to acquire a 10 percent stake in Vietnams leading insurance and financial services group, Vietnam Insurance, for VND4.12 trillion ($255 million).The deals indicate just how important both insurance and Asia-Pacific have become to HSBC as it looks to diversify its earnings base

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Sogcap, the insurance arm of French banking group Socit Gnrale, has been granted approval from Russian regulators to set up a life insurance company, Sogcap Life Insurance

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Australias third-largest banking group, ANZ, which is the most enthusiastic of Australias Big Four banks in expanding overseas, has reiterated its ambition to become a major financial services player in Asia and is targeting expansion in several countries.

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Stricken UK mortgage bank Northern Rock, which is now believed to have borrowed up to £25.3 billion ($51.8 billion) from the Bank of England since being offered emergency funds on 14 September, has revealed there has been no interest in a bid for the whole firm.

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Wal-Marts Mexican subsidiary, Wal-Mart de Mxico, the largest retail chain in the country, plans to accelerate the growth of its new retail bank by opening as many as 80 branches in 2008

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The agreement takes Chinese state-owned overseas financial services investment this year to almost $20 billion, following deals involving Citic, Barclays, South Africas Standard Bank and Blackstone Group.In a statement, Fortis welcomed the investment and invited Ping An president Louis Cheung Chi Yan to join the board.In line with our strategy to selectively grow in Asia, we are delighted to invite Louis to the board of Fortis, said Fortis chairman Maurice Lippens

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StrategySocGen sets up latest consumer finance unit in high-growth TurkeyFrench bank Socit Gnrale (SocGen) is to set up a consumer finance business in Turkey the latest in a string of foreign financial groups to set up operations in the country

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Fourth quarter figures from US banks show scale of subprime woes... ICBC reports strong rise in online banking...

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Banks face growing P2P lending threat... Santander reports strong retail results BBVA records 30% rise in annual profit

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Visa outlines plans for record $17 billion IPO... FSA card comparison site to launch this year...

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Sumitomo Mitsui looks to become Japans largest credit card issuer... NBoG nets a 70% rise in 2007 annual profit...

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Integration weighs on Intesas 2007 results... Raiffeisens significant CEE retail banking boost... UKs FSA admits to big Northern Rock failings..

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Embattled Citi rolls out new corporate structure and team... ICICI launches the Global Indian Account... Crdit Agricole, Banco Popolare in credit talks...

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Losses escalate at Countrywide Financial... Contrite Credit Suisse apologises quickly for child labour link... Australias NAB unveils Customer Promise...

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Power to the people

Caja Navarra, one of Spains biggest savings banks, runs one of the countrys most successful social responsibility programmes Pablo Armendariz, the banks head of innovation, spoke at RBIs recent Innovations event in Singapore about why Caja Navarra has gone further than its rivals.Caja Navarra (CAN), the Pamplona-based savings bank, began to upgrade its social investment programme back in 2005 It now operates one of Spains most advanced, tech-savvy social responsibility initiatives, a scheme that will probably invest around 60 million ($76 million) in both Spanish and, increasingly, international projects in 2008.

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Commonwealth Bank of Australia refines home loan offering...Crdit Agricole looks to raise $9.1bn in capital...Alpha Banks sports tour extends to Bulgaria, Romania...WaMu thinks big on MasterCard PayPass...RBC offers free computer with packaged account...STRATEGYChase has invested $338bn in low-income US families since 2004JPMorgan Chase has reported that four years into a 10-year, $800 billion commitment to offer beneficial lending rates to low- and moderate-income families and community businesses, it has so far channeled $338 billion into the initiative.Chase says it has invested 42 percent of that in three crucial areas: $258 billion in mortgages to low and moderate-income neighbourhoods and to lower-income and minority borrowers; $63 billion in small business lending, and $17 billion in community development lending and investment.Helping families buy a home they can afford over the long term remains a crucial part of our commitment to communities, said Charlie Scharf, CEO of Chases Retail Financial Services unit.In 2003, Citi established a seven-year, $200 billion affordable mortgage programme; it says it has already surpassed the goal, having lent approximately $222 billion

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HSBC ups insurance push with Allianz deal... SocGen looks to China for banking expansion... CIBC launches first free student banking...

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Bullish Barclays launches in Pakistan, ups branches in Italy... Canadas RBC goes multimedia mad... Intesa Sanpaolo offers free financial check-up...