News
India tightens microfinance rules to curb borrower overleveraging
India tightens microfinance rules to curb borrower overleveraging
Lending in the sector has slowed down as tighter rules began rolling out in 2024.
Hong Kong banks have enough buffers against commercial real estate strains
But small and midsize banks are likely to experience greater strain due to their higher exposure to commercial property.
Millenials, Gen Z to lead fintech adoption in Southeast Asia by 2030
Adoption could rise to 79% by 2030 from 65% in 2024.
Alipay+ goes live in Sri Lanka with 14 e-wallets enabled for payment
Travellers using the e-wallets can pay in over 400,000 merchants via LANKAQR.
Chart of the Week: 1 in 4 Filipinos have used BNPL services
The number of unique users rose by 40% as of end-2024.
Chocolate Finance to continue 3-6 day withdrawal time frame
It has not disclosed when it plans to return the instant liquidity feature.
GXS Savings Account’s maximum balance raised to S$95K
Interest rate is 2.38% for the Savings Pocket product.
OCBC CEO Helen Wong’s remuneration up 5.7% to S$12.8m in 2024
Her base salary is lower but her bonus is higher.
Westpac unveils block option that stops retail transactions
It can be activated via the Westpac app or online banking platform.
Trust Bank introduces money lock feature with digital unlocking capabilities
They need their app and card to unlock their money.
India revises priority sector lending guidelines
It broadened the purposes for renewable energy loans and revised UCB targets.
Japan’s SMBC enters partnership agreement with Avispa Fukuoka
It will introduce a scholarship program and promote use of sports data utilization.
Citi names Akira Hoshino as head of markets for Japan
Hoshino was head of FX and has led Citi’s rates sales since 2022.
Mannapuram Finance gets growth boost from Bain Capital’s stake acquisition
It will enable the Indian gold lender to invest in new age tech like AI, for example.
SG millennials, Gen Z want rewards customisation in credit cards
Over 1 in 2 said that being able to customize rewards will reduce the need to switch.
BCA remains world’s strongest banking brand: report
It was driven by strong customer satisfaction.
Malaysia’s leading banks’ value increases 25% YoY
The market was led by Maybank which increased its value by 52% to US$5.2b.
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It is wading downstream from mortgages to lend to developers, hardware stores, and the likes.
Commentary
Built to last: How Japan is approaching the cross-border payments challenge
Asia’s 20% advantage: The simplification strategy rewriting banking from Singapore to Shanghai
Perth is emerging as an unlikely testbed for the future of global finance