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Weekly Global News Wrap Up: Wells Fargo sells 52 branches in Midwest exit; Societe Generale to pay $1.3b fine to end Libyan and US probe
Weekly Global News Wrap Up: Wells Fargo sells 52 branches in Midwest exit; Societe Generale to pay $1.3b fine to end Libyan and US probe
And here’s why the British government sold 7.7% stake in Royal Bank of Scotland. From Reuters: Wells Fargo & Co is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country. Flagstar Bancorp Inc would acquire 52 Wells Fargo branches in Indiana, Michigan, Ohio and Wisconsin for an undisclosed amount.
OCBC debuts all-digital account application
There will be no need to provide documents as it can easily link to national data repository MyInfo.
Asia's private banking scene heats up as European players enter fray
European private banks are heavily investing in Asian footholds.
Myanmar to grant license to 4 private banks
The move is the latest in the government’s push to liberalise the financial sector.
New accounting standards pose risks to Singapore banks' profitability
Lenders face higher credit reserve requirement under the FRS109.
UOB rolls out monthly ‘digital clinics' to help businesses digitise
Tech experts will provide companies with tailored digital strategies to improve productivity.
Singapore beats Hong Kong in open banking readiness
Strong regulatory support from MAS buoyed the lion city to score the APAC crown.
Singapore bank lending up 0.8% in April
Consumer and corporate loans edged up slightly.
Weekly Global News Wrap Up: US loan demand dips as SMEs turn to personal funds; Swiss lender BCP halts all business with Iran
And Bank of Nova Scotia’s Q2 earnings smashed analyst expectations.
Chart of the Week: Singapore banks bear the burden of growing credit card debt
Bad credit card debt that was "written-off" jumped 16% to $20.74m in March.
Why you should be a part of ABF's inaugural Priority Banking & Wealth Management Conference 2018
The event will tackle significant topics on the thriving wealth banking business in Asia.
OCBC rolls out financial advisory and lifestyle programme for elderly
It will train seniors on e-payments amongst other activities aimed at safeguarding their future.
HSBC integrates personal information vault into credit card application process
Applicants won’t need to provide supporting documents anymore.
Losses may loom for Singapore banks as water treatment firm Hyflux struggles to stay liquid
Half of the embattled firm’s debt come in the form of unsecured bank loans.
Software AG's Jigar Bhansali to discuss how APIs push the frontiers of banking in this year's Retail Banking Forum
He will share how the API has the massive potential to introduce new ways of delivering banking services.
Maybank joins GrabPay mobile wallet platform
Users will be able to use their e-wallets at Maybank’s key merchants.
Asian banks may just be at the centre of the trade finance boom
The region is expected to account for over a third of trade flows by 2020.
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