News
Australian banks' cash earnings drop 42.6% YoY to $5.4b
Australian banks' cash earnings drop 42.6% YoY to $5.4b
Sector braces for more uncertainty as banks cancel or defer dividend payouts.
Philippine banks' credit losses to rise threefold in 2020
Credit costs in select banks have already increased by up to 4.9%.
Regulations to quell slight uptick in Hong Kong banks' credit losses
Credit losses will notably decline in 2021.
Singapore's Big Three banks fell in Q1 as pandemic persists
Compressed net interest margin and rise in non-performing loans are to be expected, according to analysts.
Australian banks defer $130b in loans
100,000 loans were deferred in the past week.
Rising overdue loans imperil Vietnamese banks' capital
Delinquencies are likely to further rise as economic outlook remains gloomy.
OCBC's Q1 profit plunges 43% YoY to $698m
Banking and insurance operations suffered tremendous losses.
Volatility spells investment losses for Thai non-bank financial firms
Higher NPLs and credit costs may set in once measures expire.
Chinese banks still see long-term stability ahead
The sector is cushioned enough to absorb eroding asset quality.
UOB's net profit down 19% to $855m in Q1
Total impairment charges skyrocketed 96% to $286m.
2020 tipped to be the worst year for China's retail savings and investments
Losses will affect China’s high net worth segment significantly.
Weekly Global News Wrap: JPMorgan cleared to make $15b in new loans to small firms; BNP Paribas posts 33% crash in net income
And Norwegian wealth fund backs Barclays’ climate talks.
Chart of the Week: China's consumer lending market growth to stall at 6.2% in 2020
This is ten percentage points lower than the 16.3% growth recorded last year.
Major Australian banks may take long to recover from headwinds
Hefty loan impairment charges may remain elevated.
UOB extends $2.83b in loans to mid-sized enterprises
The bank also tapped MAS SGD Facility to help clients access funds at lower interest rates.
Singapore's MAS extends scope of loan deferments
Starting 6 May, individuals with specific loans may apply to defer repayments until 31 December.
Coronavirus triggers switch to contactless payments in APAC
Health concerns made contactless payments more favourable to consumers.
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