News
Public Bank H1 profits stumble over one-off prosperity tax
This was partially offset by higher net interest income.
BEA completes sale of insurance and healthcare business
Both were sold to AIA Group.
Australia’s Judo Bank on track for earnings growth
Its net interest margin is expected to be 3% over the next two years.
Citi winds down Russia consumer, commercial banking businesses
Approximately 2,300 employees will be affected, according to the bank.
Thailand’s SCBX scraps $500m deal for crypto exchange Bitkub: report
SCBX said that Bitkub needs time to fix its issues with the local regulator.
Maybank net profit down 9.2% to $415.7m in Q2
Fee-based income rose, but group braces for expected credit losses.
DBS Hong Kong grants US$35m green-linked loan to down apparel firm Bosideng
The loan has a one year tenor.
China’s small, regional banks gain lifeline with planned NPL disposal initiative
But local asset management companies may face pressure to acquire bad debt at prices that make it challenging to earn a commercial return.
Indonesia’s finance and banking sector second most cyber-attacked industry
Financial institutions were attacked triple the average global every week.
Singapore’s Blockchain & Crypto startups capture most seed investments in H1
This is despite MAS moving to tighten retail investors’ access to crypto.
UOB Infinity rolls out new financial supply chain management services
The features will be rolled out to clients outside of Singapore, Hong Kong at a later stage.
Dah Sing Banking Group’s profits down 1% to HK$1.09b in H1
Property woes in Hong Kong and Mainland China doubled the bank’s credit impairment losses.
2 in 5 Filipinos name fraud protection as top priority when opening new financial account
About 4.5% of those surveyed have been victims of identity theft.
Financing platform Funding Societies clinches US$50m loan with HSBC SG
It will use the money to extend more loans to SMEs in Southeast Asia.
DBS’ DDEx doubles trade volume in June from April
The number of BTC and ETH bought also rose by over 50%.
Maybank sets financed emission baseline, adopts ESG transition strategy
It is the first bank in Malaysia to do so.
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1. OCBC starts AI stock adviser using data on 4,000 stocks 2. Aussie banks launch digital locks versus online fraud 3. UOB reports flat net profit growth in Q1 despite record fee income 4. J.P. Morgan unveils automated cross-currency payment collection and settling service 5. Bangkok Bank connects with China’s fund transfer networkResource Center
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Productive sectors need more capital to stimulate the slowing economy.
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The Asian connection: China's path to sustainable growth