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Australia fines Snaffle A$33.5m as 38,000 contracts overcharged
Australia fines Snaffle A$33.5m as 38,000 contracts overcharged
Snaffle’s pricing charged between 88% and 103% in rates, over the 48% rate cap.
HK banks to gain on IPO surge and stabilising property market
IPO applications in Hong Kong surged 61% in April compared to March.
Citi Korea posts strongest Q1 since 2018 as net income surges 61%
Total revenues and net income rose by 23% and 61%, respectively.
SMBC, Fujitsu and SoftBank build platform to slash $31b in health costs
They will create new businesses to streamline costs of prescriptions and treatments.
HSBC deploys $4b for Chinese clean energy firms seeking overseas expansion
The bank expects Singapore to play a central role in deploying the funds across ASEAN.
UnionBank enables real-time cash deposits at 2,100 ECPay kiosks
The 2,100 ECPay kiosks can deposit up to $161 per transaction.
Taiwanese banks’ SME lending rises $3.38b in March: FSC
NPL ratio rose 0.01 percentage points compared to February.
DBS to hire over 500 young talent in 2026 amidst AI push
The Singaporean bank will hire 112 management associates and 400 interns in 2026.
JCB cards accepted on Hong Kong's Wonder Taxi
Acceptance is also extended to minibuses.
Mizuho clarifies ‘no decision yet’ on Rakuten Bank investment
Rakuten Bank said that Mizuho “has not made any decision” regarding the investment.
National Australia Bank buys A2A payment company Banked
NAB will fully integrate Banked in the coming months.
ASIC holds $1.93b in unclaimed funds from old financial accounts
The largest single amount currently unclaimed is around $927,000 (A$1.3m).
Citi promotes Sutida Tambunlertchai to head commercial banking in Thailand
Citi has announced a slew of appointments over the past month.
Danamon and MUFG Indonesia explore potential integration by 2027
The integrated bank will remain a consolidated subsidiary of MUFG Bank.
Philippine cash remittances up 2.8% to $8.68b in Q1
The US remains the top source of cash remittance.
BSN eyes retail and gold to push beyond mortgage-heavy roots
It is wading downstream from mortgages to lend to developers, hardware stores, and the likes.
SMFG logs record profit of $10.02b in FY3/2026
The Japanese megabank aims for a $10.7b net profit for FY3/2027.
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1. MAS backs Singapore's finance edge as global risks deepen 2. More than half of Filipinos have financial accounts but few hold bank accounts 3. Digital wallets seize 65% of APAC payments 4. CommBank tests AI banking assistant in app pilot 5. Singapore to slash private bank account opening to under a monthResource Center
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Monitor Deloitte's Prashant Krishnan urged banks to transform their relationship models to meet these demands.
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