It has been two years since Chinese banks have seen their luck turn sour with raising NPLs and decreasing profits. Preoccupied by other issues – including the collapse of the stock market and a huge loss of reserves after a mini-devaluation – the Chinese government only turned to the banks' situation early this year. Most of the actions taken have been piecemeal and uncoordinated.
61% of respondents to the ICC Banking Commission’s latest Global Survey reported a shortfall in global trade finance. And US$700 billion of the unmet demand comes from developing Asia. Here we examine the measures that can be taken to address the trade finance gap across the world’s largest continent.
Global banking is facing a perfect storm. In addition to weak economic growth, major regulatory challenges, and historically low interest rates, the industry also faces an intensifying threat stemming from changing consumer perceptions of traditional banks coupled with the emergence of new competitors offering attractive, personalised products.
This post examines the current status and future outlook of legacy modernisation in Japan's financial industry based on a survey Celent conducted in 2015. The survey targeted insurers, financial institutions, and brokers. Additional information was gathered in follow-up interviews through 2016.
Back in 2012, Thailand's Electronic Transactions Commission issued regulations that mandated domestic processing of domestic debit card transactions with debit cards issued in Thailand. It granted a grace period of one year for service providers to meet the new requirements.
As per Reserve Bank of India, the Indian banking system has gross stressed assets of 11.5% of total assets, as of March 2016. Amongst the various categories of banks, the percentage for public sector banks is, as expected, highest at 14.5%.
The classical central banker’s dilemma is how to address the growth versus inflation conflict. The prevailing orthodoxy has remained an independent monetary policy using base interest rates as the primary management tool.
Slower economic conditions around the region are certainly impacting our banks and financial services institutions, but that doesn’t mean hiring & recruitment has come to a complete halt. Organisations still need talent to keep operations running and lead them into new growth areas. This requires talent in different shapes and sizes than previously. Shifting sands just means a shift in focus is required to different functions, roles, or skills to meet current market conditions.
The second quarter of the calendar year is always a very active period for recruiters, after Chinese New Year and post-bonus season. Whilst candidates normally choose this time of year to open themselves up to new job opportunities, there is a surge in employers requiring specific skill-sets to fill the gaps left behind on top of their existing unfilled vacancies.
The first quarter of the calendar year is traditionally a peak recruitment season within banking & financial services. The pace of recruitment will speed up with the majority of employers reviewing headcount and planning for the new year that lies ahead. This quarter will also see the payment of annual bonuses, which is preceded by candidates looking out for good opportunities and followed by an influx of roles and recruitment activity as people search for their next role.
Private banks in Asia are increasingly burdened by risk and regulatory requirements, in fact more so than any other segments within banking. Regulations span numerous dimensions and serve various objectives including investor protection, financial crime prevention, capital adequacy management, taxation compliance, professional code of conduct, and risk management.
Careers in banking and finance are ever-evolving as constant change in Asia's markets creates demand for new skill sets. Whether changes are caused by new technologies, evolving regulations, or an increasingly competitive landscape, it pays to keep track of hiring trends as a barometer for your own career.
In the immediate aftermath of the global financial crisis, a chorus of bankers reaffirmed their commitment to global universal banking because it helped smooth revenue volatility. Since then, a host of regulation, from structural reform to tougher capital and leverage ratios, has changed the game.