Bank of China, the nation’s third-largest by assets, plans to slow credit growth in the second half of the year and improve loan quality after posting an unexpected profit gain in the second quarter. (Bloomberg)

Bidders for AIG’s Taiwanese life insurance unit may offer less than the insurer’s US$2bn target. (Bloomberg)

Nomura is building its Australian investment banking presence, with three key hires as it attempts to win further market share. The Japanese-based bank, which now has 90 staff in Australia, has hired Ian Maxton from Deutsche Bank, Ed de Salis from Bank of Scotland and John Hanson from Merrill Lynch. (The Australian)

Macquarie Group is a step closer to joining the top tier of global investment banks in China, now the world's most lucrative securities market. (The Age)