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Challenging times ahead for Singapore's banking industry
Challenging times ahead for Singapore's banking industry
Delinquencies are sighted to rise from SMEs, large corporates, and retail customers.
Korean banks face irreversible headwinds as disruptions persist
Four regional banks are particularly at risk of asset-quality deterioration.
India directs banks to operate during lockdown
This is to ensure that the government’s relief package reaches the poor.
Government shift, surge in COVID cases drags on Malaysian banks
Credit growth is likely to flatline this year from the record low of 3.9% in 2019.
Weekly Global News Wrap: Global banking systems may need restructuring; Major UK banks scrap dividend payments
And Goldman Sachs, Morgan Stanley OK’d for majority stakes in China ventures.
MUFG sees surge in firms needing COVID-related funding
Cash flow is evidently becoming a problem for Japanese companies.
Chart of the Week: Data & analytics firms clinched 34.4% of Singapore's fintech deals since 2015
Local fintech companies raised more than $9.2b across 389 deals during this period.
Xiaomi and AMTD-backed neobank Airstar starts pilot service
It will on-board 2,000 customers from acquaintances and families of staff.
Sri Lanka's banks face dampened outlook for 2020
Announced regulatory policies aren’t enough to shield the sector from the pandemic’s punches.
COVID-19 spells trouble for Indonesian non-bank finance firms
It will complicate domestic consumption and cash collections, analysts said.
New Zealand banks will still be profitable despite lockdown: S&P
The earlier announced fiscal measures should provide ample support to banks.
China shadow banking credit down $42b amidst pandemic disruption
A 5% dip in core shadow credit triggered the fall.
MAS establishes $60b USD facility for banks
It aims to support more stable USD funding conditions in Singapore.
Chart of the Week: Philippines may cut policy rate further by 50bps in Q2
A further 200bps cut may happen in 2020 if the pandemic extends beyond June.
Hong Kong's first virtual bank starts operations
The firm is offering a savings rate of 1% for deposits up to $500,000.
Weekly Global News Wrap: European banks' loan blues; US urge banks to aide COVID-hit customers
And some US lenders hand out bonuses to staff amidst the pandemic.
Australian banks feel the pinch despite stimulus package
Not enough cushion for impairment charges and bad debts.
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