News
Korea’s Woori Bank faces lower profits, rising credit costs in 2024
Korea’s Woori Bank faces lower profits, rising credit costs in 2024
																					
							Capitalisation, funding, and liquidity are expected to remain stable.
						
					
					
				Hang Seng Bank warns of phishing SMS messages, fake WhatsApp accounts
																					
							These phishing SMS and fake accounts prompt users to provide their banking info.
						
					
					
				Tap & Go joins Hong Kong-Thailand cross border retail payment service
																					
							Hong Kong Tap & Go customers can now pay in Thailand locally with just their app.
						
					
					
				Crypto-focused SEBA Bank rebrands to AMINA Bank
																					
							It recently clinched a license to offer regulated services in Hong Kong.
						
					
					
				Maybank Singapore approves landmark US$100m green-linked Islamic loan
																					
							Maritime transportation services company AET will use it to reduce GHG emissions.
						
					
					
				Japan’s SMFG names Toru Nakashima as CEO
																					
							Nakashima retired from SMBC in April 2022, but returned to the company in 2023.
						
					
					
				SAP & SAP Fioneer's leadership shines: Transforming financial services with industry giants
																					
							SAP and SAP Fioneer's pivotal role in reshaping financial landscapes across the Asia Pacific was highlighted at the recent SAP & SAP Fioneer Financial Services Forum Asia Pacific.
						
					
					
				Grab, Singtel-backed GXBank launches full operations in Malaysia
																					
							The digital bank intends to roll out its own debit card in the coming months.
						
					
					
				Higher risk of defaults on the horizon for Thai banks
																					
							Household leverage has reached “unsustainable levels”, says S&P Global Ratings.
						
					
					
				Singapore’s net interest margins to peak in 2024: S&P
																					
							NPL ratio will remain below 2% and NIMs may peak at up to 2.2%.
						
					
					
				Philippine banks to see higher credit demand but lower earnings in 2024
																					
							The bad loan ratio is expected to deteriorate, but it should be manageable.
						
					
					
				OCBC enables customers to lock money in their accounts
																					
							Locked funds cannot be used for payments, investments, and ATM withdrawals.
						
					
					
				Banks to see $1.68t of credit losses in 2024-2025
																					
							Banks globally are expected to lose $824b in credit losses in 2024.
						
					
					
				APAC wealth management integration set to grow by 5% in 2027
																					
							Rapid expansion in wealth and cross-border activities positions Asia-Pacific as a global leader in wealth management.
						
					
					
				Public Bank net profit up 14.3% to $1.08b in 9M 2023
																					
							Total loans rose faster than the Malaysian banking industry average.
						
					
					
				Financial advisor MoneyOwl given new life with proposed acquisition by Temasek Trust
																					
							It will no longer be shutting down its website and app.
						
					
					
				South Korea interest rates for new deposits, loans rose in October: BOK
																					
							The interest rate for outstanding amounts of deposits and loans also rose.
						
					
					
				 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
								 
						 
						 
				 
								 
								 
								 
																					
											
																			 
																					 
																					
											
																			 
																					
											
																			 
                 
                 
                 
                 
                 
                 
                 
                
Commentary
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