China
Bank of Singapore HK names ex-chief of Credit Suisse HK as its new chief executive
Bank of Singapore HK names ex-chief of Credit Suisse HK as its new chief executive
Rickie Chan succeeds Cindy Wong, who will serve as advisor until 31 May.
China boosts financial services to advance new industrialisation
Insurance funds should provide long-term stable financial support.
Revised rules bolster car loans but with influx of lower quality borrowers
The asset quality of auto finance companies will be tested.
Weak home sales risk worsening Chinese banks' bad loans
Banks’ property loan exposure is expected to fall 6% amidst ongoing caution.
China investment banks report dismal fees as IPOs and M&As fall to decade low
Banks only raised $3.1b in fees from IPOs– a 78% decline from Q1 2023.
ICBC planning $5.5b loss absorbing bonds sale: report
The world’s largest bank by assets is likely to issue CNY20b.
Ant Group seeks to boost foreign payment accessibility in China
The group plans to expand bilingual support, amongst other enhancements.
Postal Savings Bank of China faces ROAA decline but sustains strong fee income
Adequate provisions to buoy resilient asset quality.
Lower interest rates and property woes weigh on Bank of China’s profits
Net interest margin fell, although at a lower decline than other Chinese megabanks.
China Merchants Bank says it’s “challenging” to achieve Q1 earnings growth
The bank is bracing for a margin squeeze and guided for tepid fee income.
Mandated property lending poses challenges for Agricultural Bank of China
ABC also faces a moderate decline in profits following recent rate cuts.
Tighter interest margins and rising bad loans weigh on CCB
The non-performing asset ratio is expected to rise to 4.48% in 2024.
Chart of the Week: 2 in 3 e-commerce transactions in China use alternative payments
Alternative payments make up 67% of the market share.
Hong Kong’s wealthy plan to spend HK$870,000 in 2024 travels
Tokyo is their top destination of choice.
Ping An Bank with enough capital for proposed higher dividends: analyst
The China-based bank has proposed to pay a 30% dividend in 2023.
Mastercard and Alipay enable real-time remittance in over 180 markets
Alipay’s 1 billion users in China can now transfer and pay with over 150 currencies.
Citi appoints Lin Hai as head of China commercial bank business
Lin was most recently head of corporate sales & solutions for China and HK.
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