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Consumer spending to spur growth in Taiwan card payments
Consumer spending to spur growth in Taiwan card payments
The value is expected to reach $200.2b by 2024 at a CAGR of 7.6%.
Singapore central bank fines trust firm for money laundering holes
Asiaciti Trust committed money laundering breaches between 2007 and 2018.
APAC banks face $1.27t in credit losses over the next two years
Chinese banks will account for $398b losses in 2020.
Weekly Global News Wrap: Germany to discuss Wirecard fallout; UBS Q2 profit falls 11% to $1.23b
And investors sue Deutsche Bank over Jeffrey Epstein scandal.
China to look into banks' quarterly green finance practices
Metrics include green finance share of total business mix.
Chart of the Week: Lockdown easing drives card payments recovery in India
Fear of COVID-19 spread is driving consumers towards digital payment tools.
Global banks interested in Taiwan after passage of Hong Kong security law
The government sees the shift as a way to reinvigorate economy.
Ant Group has picked banks for $10b Hong Kong IPO: report
The company could seek a valuation of at least $200b, according to sources.
Goldman Sachs execs in Malaysia for 1MDB talks: report
Malaysia's finance minister is hopeful that it will help recover lost assets.
India mulls reducing number of state-owned banks to five
The first part would entail the sell-off of majority stakes in six lenders.
Hong Kong banks suspend return-to-office plans amidst new wave of infections
As many as 70% of Citigroup’s staff will be working from home.
Japan creates team to look into central bank digital currencies: report
It will follow-up on the BOJ’s efforts in this field.
Hong Kong-based wealth clients probed for pro-democracy ties
"Politically exposed persons" can have a hard time accessing banking services.
Singapore banks' trading print to offset lower interbank rates
Loan growth for the major banks are likely to be 1-2% QoQ.
Non-bank lending to flourish in Asia as incomes diminish
More than two-thirds have prepared for active borrowing.
Regulator finds Westpac's non-financial risk culture “immature and reactive”
The bank is embarking on a multi-year program to address shortcomings.
China seizes financial firms linked to probed conglomerates
This is a part of a crackdown on conglomerate-posed systemic risks.
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1. Sea rebrands digital finance business SeaMoney to Monee 2. UOB maintains profitability despite possible slower loan growth 3. Japan’s SMBC is buying a 20% stake in India’s Yes Bank 4. Malaysia’s development banks told to plug lending gap for MSMEs 5. Bhutan enables national-level crypto payment with Binance PayResource Center
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Nonbank lenders are now providing capital even to low-risk corporate clients.
Commentary
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