News
Smartpay, Chubb launch embedded insurance in Japan
Smartpay, Chubb launch embedded insurance in Japan
Cashless payments account for 50% of consumer monthly spending in Japan.
CIMB launches 6-year roadmap to enhance operations
Forward30 aims to position CIMB for long-term growth.
DBS boosts sustainable financing to $89b in 2024
Customers invested over S$42m in sustainable funds.
PAObank secures insurance agency licence
It also inked a deal with China Ping An Insurance and FWD Hong Kong.
Prudential, StanChart cement 25 years of bancassurance tie-up
They have the longest-running bancassurance partnership in Singapore and Asia.
CommBank adds extra confirmation step for NetBank logins
Customers using the CommBank app will be prompted for confirmation.
Indonesia and Australia renew $6.2b bilateral currency swap agreement
It will last for 5 years.
Vietnamese banks may see up to 16% credit growth over next two years
Demand will come from the manufacturing, construction, and real estate sectors.
Airwallex to acquire Viet IPS provider CTIN Pay
Airwallex plans to aid merchants in their overseas expansion.
Bank of East Asia officially opens Global Services Centre
It is an IT Development & Test Centre for fintech solutions and AI adoption.
Crédit Agricole CIB names new APAC head of int’l trade & transaction banking
Christophe Crétot is most recently head of corporate & leverage finance APAC.
BDO Unibank’s net income up 12% to PHP82b on service businesses’ growth
NPL ratio is 1.83% and coverage is 145%.
Singapore banks face margin squeeze despite strong results: Moody’s
Looking ahead to 2025, Moody’s said banks may expect mid- to high-single-digit loan growth.
Security Bank’s net income up 23% to $194m on higher interest income
Interest income rose 27.9% in 2024.
Indian commercial banks’ lending up 11.8% in Q3 FY2025 on MSME demand
Credit offtake of public banks outpaced private banks.
Malaysian banks’ impaired loans rose in January
Loan loss coverage ratio dipped to 128.6% from 129% previously.
Japan, India renew bilateral swap agreement
The size of the BSA remains unchanged at $75b.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB pledges S$2.98b to support Johor-Singapore SEZ 3. DBS and OCBC expected to report lower margin in Q1 on SORA easing 4. Union Bank of the Philippines ‘aggressive’ growth strategy brings more problem loans 5. Bank of America appoints Phil Carmalt as head of APAC GPSResource Center
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Cards & Payments
Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
Commentary
The Asian connection: China's path to sustainable growth