Markets
MUFG's securities unit warns $270m in losses from unnamed US client: report
The losses will be reflected in the unit’s first quarter financial statement.
MUFG's securities unit warns $270m in losses from unnamed US client: report
The losses will be reflected in the unit’s first quarter financial statement.
Japan's financial firms face activist climate votes as AGMs near
Mizuho was forced to vote on a climate-focused resolution in its AGM last year, but more firms are being targeted in 2021.
Mergers imminent amongst Japan’s regional banks: study
Ultralow rates, competition will hurt profits to the point where revenue no longer covers operating expenses.
HSBC Singapore names new global liquidity head
Winnie Yap will be responsible for treasury solutions for Singapore firms.
Weekly Global News Wrap: Morgan Stanley offers bitcoin to wealth clients; SLB market could hit $150b this year
And Barclays expands private banking unit to France and Italy. From CNBC:
Philippine banks' credit weakness to persist throughout 2021
Non-performing assets ratio is expected to rise to 5.5%-6% by the end of the year.
Bank accounts of suspected scammers can be frozen within a day: Singapore minister
Singapore Minister Desmond Tan lays out plans to prevent scams.
MAS unveils joint paper on managing remote working risks
Financial institutions are called to benchmark their practices against examples in the study.
No significant funds from Myanmar firms, individuals in Singapore banks: MAS
The regulator expects financial institutions to remain vigilant to any risk-posing transactions.
Japan's banking regulator surveys lenders on impact of COVID restrictions
The regulator is reportedly seeking to prevent a huge rise in bankruptices of businesses.
Bangladesh issues sovereign sukuk worth $463.24m
A total of 39 financial institutions participated in the auction.
Shopee parent Sea acquires Indonesia's Bank BKE
The tech startup has raised $3b in stock offering for its business expansion plans.
Pandemic-driven rapid digital growth benefits APAC incumbent banks
Despite the rise in digital banking demand, neobanks’ performances faltered compared to incumbent peers.
Debates arise on security law's effects on Hong Kong finance sector
Is there really a capital exodus from Hong Kong to Singapore?
What banks are getting wrong in their restructuring plans
Lenders are relying too much on past risk data and numbers instead of long-term growth prospects.
Singapore regulator floats guidelines to boost FIs' ethics, accountability
Senior managers responsible for core functions should be identified.
More profit woes for Chinese banks as regulators plan NPL hike
$160.9m of targeted full-year NPL resolution were completed in H1.
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