China

Overall loan growth will come below 10% in 2023, says S&P.

Government spending should continue to increase in order to provide enough job stability.

Household loans rose to CNY650.3b in September.

The newly established teams are comprised of relationship managers and investment counselors.

Property developers just posted their worst first-half earnings in over a decade.

Those affected are majorly junior level bankers involved in Greater China deals.

BOC’s NPL ratio for mainland real estate loans rose 62 basis points in H1.

But local asset management companies may face pressure to acquire bad debt at prices that make it challenging to earn a commercial return.

This comes after new yuan loans in July fell to just a quarter of the amount in June.

And Tencent’s NFT platform to stop selling new NFTs.

Analyst warned that new lending may continue to disappoint in the near term.

NPL securitisations allows banks to sell NPLs to a vehicle.

And India’s Yes Bank is selling up to a 10% stake for $1.1b.

This highlights the need to tighten regulatory oversight of escrow accounts, Fitch said.

The head of these banks' parent company is on the run and wanted for financial crime.

Dah Sing’s board has also appointed Junji Mori and Yuichi Tashita of Norinchukin as managers.