Lending & Credit
Loan rate cut weighs on Chinese banks’ interest margins, profits
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
South Korea’s interest rates for new deposits, loans fall in January
Average interest rate for new loans taken by large firms dropped 12 basis points.
Digido has served 1 million customers
Over 3 in 4 of the loans disbursed in 2023 were from repeat customers.
Weekly Global News Wrap: BBVA sets up finance unit for clean tech; Wells Fargo sued for ‘fake accounts’ scandal
Top regulator calls for EU banks to improve risk management.
Indonesia’s Islamic financing to expand by 10% -12% in 2024: deputy gov
Indonesia’s sharia economy and finance maintained positive growth in 2023.
How HomePay is combating renovation scams in Singapore
Money is put in an escrow account and disbursed when milestones are reached.
HSBC profit before tax is $30.3b in 2023
But the bank also had a $3b impairment charge related to the Bank of Communications.
Weekly Global News Wrap: HSBC gets approval to sell Russia unit; Chinese banks approve $17b property loans
And China cuts 25 basis points to five-year loan prime rate (LPR).
South Korea’s household loans rose by $4.8b in Q4
Loans extended by banks rose by $8.5b during the period.
South Korean banks’ lending to companies up in January
This was due to season factors.
South Korea’s household lending accelerates in January
However, there was a fall in housing sale transactions in the past month.
South Korea’s major banks saw average lending rate fall in January
This is the second consecutive month of decline.
Loan growth ambitions push Indian banks to ‘deposit war’
Loan growth is expected to fall in 2025 with possible intensified deposit competition.
BPI, Helios roll out solar mortgage program in the Philippines
It has a 7% interest rate and has already onboarded 100 new homeowners.
Mizuho invests $145m into Credit Saison India
CS India has 1.2 million active loans and assets under management of $1.2b.
Bank Mandiri’s loan quality improved moderately in 2023: Moody’s
Share of impaired loans were “modestly lower” compared to 2022.
China’s new bank loans hit record high in January: report
Officials are also rolling out more measures to support the economy.
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