Lending & Credit
Weekly Global News Wrap: Wells Fargo slimming down mortgage business; Swiss central bank reports biggest annual loss ever
And US banks expected to report lower earnings as they brace for economic slowdown.
Weekly Global News Wrap: Wells Fargo slimming down mortgage business; Swiss central bank reports biggest annual loss ever
And US banks expected to report lower earnings as they brace for economic slowdown.
Citi winds down China consumer banking business
The exit does not include its institutional business, Citi said.
Foreign banks in China face growth challenges in 2023: Fitch
Their share of system assets in 2021 is just 1.4%, with only a 0.5% growth.
MUFG Bank signs BTNZ as first client for green deposits product in New Zealand
The funds are used for green loans in clean transportation and green development.
China’s shadow banks scramble for new business as property credit collapses: report
One shadow banking employee saw his yearly pay plunge from $500,000 to $34,000.
CIMB unveils sustainability-linked treasury programme
Clients may get a rebate upon achieving ESG-related targets.
Malaysian banks “well-placed” to weather 2023 headwinds: S&P
Credit costs are expected to stay flattish and slowing credit growth should be manageable.
HDBank to issue $500m in convertible bonds to international investors
Proceeds will be used for the bank’s medium and long term capital.
Weekly Global News Wrap: Citi negotiating return of $500m Revlon loan payment; Well Fargo cuts mortgage roles
And US banks report $71.7b profit in Q3.
DBS Hong Kong names Wallace Nam as head of institutional banking
Prior to joining DBS, Nam served various leadership roles in HSBC.
Citi Philippines grants $20m loan to financially assist low-income women entrepreneurs
ASA Philippines Foundation supports 2 million women across the country.
Thailand banks’ loans up 5.3% in Q3
Corporate loans rose from a year ago and consumer loans also grew.
Malaysian banks’ asset quality to deteriorate in 2023 as moratoriums expire
NPL ratio may rise to up to 3% over the next two years.
Gap to widen between India’s public and private banks: S&P
Large private banks will outperform their publicly-owned peers, the ratings agency said.
Vietnam headed for swift credit growth in next 12-18 months
Loans may expand between 15% and even up to 30%, said S&P’s Amit Pandey.
Philippine banks’ bad loans ratio to decline in 2023: S&P
But should interest rates rise sharply, banks may face more defaults.
China’s banking sector to polarize in 2023; weak banks face failure
Overall loan growth will come below 10% in 2023, says S&P.
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1. Zed challenges banking norms with no interest, forward-looking credit card 2. Citi names Amit Dhawan as head of CCB Singapore 3. StanChart joins Visa’s B2B Connect to enhance cross-border payments 4. Hang Seng Bank warns against phishing email 5. Fintech Qashier clinches in-principle approval for a MPI license from MASAwards
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