News
Maybank Singapore appoints Alvin Lee as new CEO
Maybank Singapore appoints Alvin Lee as new CEO
Lee is currently head of group wealth management and community financial services.
Arthur D. Little sees embedded finance growth to $350b in 2024
Generative AI and the expansion of fintech brands into the insurance sector are predicted to propel the industry’s advancement to new heights.
Malaysia’s CIMB Bank unveils personal loan service for EPF members
They can receive up to RM50,000 in financing.
Gen AI to add up to $340b new value to banks: McKinsey
It will add $56b and $54b in new value to corporate and retail banking, respectively.
Corporate lending in South Korea rise in Q3
Depository corporations increased industrial lending by approximately US$24.41b
SMBC hires ex-Nomura banker as head of APAC private credit distribution
Yew Chuan Sim will lead the bank’s distribution efforts in APAC.
Weekly Global News Wrap: US regulator warns of BNPL risks; Citi overhaul to cost $1b, done by Q1
And Moody’s put Hong Kong and Macau banks on downgrade warnings.
SMBC India names Sandeep Chopra as head of corporate coverage
Chopra reports to Rakesh Garg, chief business officer of SMBC India.
Hong Kongers used credit cards more on average in Q3: study
Card origination volumes contracted, but average card limits are higher.
Digital wealth platform Endowus partners with Brookfield Oaktree Wealth Solutions
Brookfield has US$850b in AUM whilst Oaktree has US$183b in AUM.
Deutsche Bank raises US$141m from second Panda Bond issuance
The German issuer had earlier raised US$143m in January.
Digital asset exchange DigiFT clinches capital markets service license in SG
DigiFT can now conduct regulated dealing of capital markets products.
Shinhan Bank Japan’s profits to decline, but asset quality stable in 2024
Loan concentration in the real estate investment segment remains a risk.
APRA keeps current macroprudential policy settings
Cost-of-living, the economic outlook, labour market, and borrowing cost were factors considered.
MUFG Investor Services opens operational center in Malaysia
Kimberly Clark’s Puneet Gupta will be the new managing director of the center.
Robust profits, lower credit costs to buoy Indonesia’s banks in 2024
The sector's profitability has surpassed pre-pandemic levels to reach 2.7%.
Hong Kong, Thailand launch cross-border QR payment service
HSBC and Bangkok Bank serve as settlement banks.
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Commentary
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Digital transformation starts with leadership