India
Japan’s SMBC opens a branch in India’s GIFT City
The branch is slated to open in the first half of 2024.
Japan’s SMBC opens a branch in India’s GIFT City
The branch is slated to open in the first half of 2024.
Indian banks’ profits dragged by rising costs and tightening money supply
Deposit growth and credit growth will slow, impacting banks’ margins.
UPI propels India’s mobile wallet payments to $6.5t by 2028
In February 2024, $221.5b in value was paid across 12.1 billion UPI transactions.
India’s stricter regulations to pull down FIs’ loan growth and raise costs
Loan growth is expected to register a 16% decline in 2024.
1 in 4 e-commerce transactions in India use alternative payments
Cash makes up barely 1 in 10 of transactions, according to GlobalData.
India’s HDFC Bank penalised by state tax officer of Gujarat
This is due to “disallowance of input tax credit” under section 73 of the CGST Act.
Indian commercial banks’ bad loans declined by 21.1% in 2023: analyst
Net non-performing assets dropped to a record low in Q3 FY2024.
Loan growth ambitions push Indian banks to ‘deposit war’
Loan growth is expected to fall in 2025 with possible intensified deposit competition.
HDFC Bank unveils business credit cards with 55-days interest free
The cards offer up to ten times rewards points on business spends.
India’s private banks’ NIMs contract 32 basis points in Oct-Dec 2023
Growth in unsecured loans is expected to slow, which will impact credit growth and NIMs.
Chart of the Week: Indian banks’ credit exposure to NBFCs slows in Dec
However, the growth trajectory is still higher compared to a couple of years ago, data showed.
India’s Paytm meets with central bank following suspension of deposits: report
Paytm is reportedly seeking to extend the RBI’s 29 February deadline, a source said.
India’s ICICI Bank to maintain healthy earnings in the near term
Credit growth is expected to remain strong, at between 17% to 20%.
India’s commercial banks reports 17% higher net interest incomes
Banks also witnessed a 13.5% deposit growth for the quarter.
SMBC India names Sandeep Chopra as head of corporate coverage
Chopra reports to Rakesh Garg, chief business officer of SMBC India.
IRDAI assembles taskforce for bancassurance
The share of banks as corporate agents was 5.93% of non-life insurance and 17.44% of new business premiums in 2022-23.
Zurich acquires 51% stake in Kotak Mahindra Bank's general insurance arm
The insurer said it plans to buy 19% more in the future.
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1. Singapore banks’ interest rates will remain elevated until Q3: analyst 2. Empowering green growth through sustainable finance in Bangladesh 3. S’pore’s payment cards lead with 40% market share in online transactions 4. Korean banks began compensating investors for HK ELS-linked losses 5. TerraPay obtains MPI License in SingaporeAwards
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