Markets
Deutsche Bank names APAC head of wealth solutions
Deutsche Bank names APAC head of wealth solutions
Dominique Jooris was CEO of Bank Pictet & Sie in Singapore prior to his new role.
Mizuho, IFC inks MOU to establish carbon facility
It will facilitate the purchase and sale of voluntary carbon credits.
Improved outlooks on the horizon for Chinese finance companies
Policies to slow debt growth and control property prices appear to be working, abating economic risks.
Myanmar limits foreign staff allowed in domestic banks: report
Major banks can now employ no more than 25 foreign staff.
Thai banks sufficiently buffered against ongoing risks: Fitch
Escalation of the pandemic in Thailand will significantly affect business activity in H2.
Citi Global Wealth APAC sees $15b net new money inflow in H1
About $8b were added in Q2.
Singapore lifts dividend cap on local banks, financial companies
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
Chart of the Week: Hong Kong’s wealth market to grow 7.8% in 2021
The number of HNWIs is expected to reach 3.9 million in 2021 or 60.6% of the population.
Hong Kong lenders gear up sustainability initiatives as post-pandemic era dawns
The total combined headcount across 18 banks in the city is down 2,000 from just 12 months ago.
India mulls phased roll out of central bank digital currencies: report
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
UnionBank clinches Philippines’ 4th digital bank license
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
Hong Kong arrests 4 in alleged $155m crypto money laundering case: report
This is the first time that the city detected a money laundering case with cryptocurrency.
India’s banking system privatization plagued with capital, regulatory woes
They need to pump money into lenders before selling them if they want to make them more attractive to potential buyers, reports S&P.
Citi APAC pilots program to help young social entreps scale up their operations
They studied ways to expand to new markets, and refined marketing and growth strategies, amongst others.
SEA banks’ asset quality visibility still cloudy amidst extended loan relief schemes
Non-performing loan ratios will likely peak only by end-2021 or 2022, when relief measures expire.
MUFG Bank inks MOU with Western Australia on renewables
The agreement also cover the sectors of energy, agribusiness, education, tourism and manufacturing.
Risks for Sri Lankan banks may rise when ISB investment suspension lifts: Fitch
Even with the suspension lifted, banks will still have difficulties accessing foreign currency funding.