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Japanese megabanks curb hiring amidst digitalisation drive
Japanese megabanks curb hiring amidst digitalisation drive
MUFG will cut new hires by 45% as it aims to halve the number of teller-operated branches.
Weekly Global News Wrap Up: Citi buys $6.4b mortgages from UK bad bank; Goldman Sachs slapped with $45m by UK watchdog
And Wells Fargo CEO Tim Sloan is stepping down.
Chart of the Week: Singapore banks' LDR slows to 104.6% as lending weakens
On the other hand, deposits grew at a near-two year high at 6.3%.
Chinese megabanks caution against bad loans as year-end profits take hit
Lenders also sharply increased provisions for future bad debt.
Regional gains boost Singapore bank loans amidst weakening domestic demand
Regional loan growth of 0.3% outpaced domestic loan expansion of 0.2%.
Korean banks urged to break heavy reliance on interest income
Non-interest related earnings made up 12% of 2018 profits.
Indian banks successfully dent bad loans in 2018
The NPL ratio fell to 10.8% from 11.5% the previous year.
Payment apps make headway in cash-heavy Japan
Fintech firm PayPay is setting aside $91m of reward points to incentivise usage.
Hong Kong banks' loan growth slows to 3.03% in February
Trade finance loans fell for the sixth straight month to $60.86b.
Why you shouldn't miss ABF Digital Payments Summit 2019
The region’s payment power players will grace the prestigious event.
Singapore bank loans grew 3.3% in February
However, consumer loans grew at the slowest pace since at least 2005.
Singapore investment banking fees down 24.8% to $172.8m in Q1
Advisory fees from M&As plunged 63.6% even as deal numbers rose.
Malaysia targets web-only bank license rules by end-2019
The central bank had preliminary talks with internet-only bank operators overseas.
Malaysian banks' pre-tax profit hits $9.04b in 2018
Sector earnings grew at a slower pace due to higher MFRS9 provisions.
Hong Kong grants first batch of virtual banking licences
The licenses were awarded to Livi VB, SC Digital Solutions and ZhongAn Virtual Finance.
Philippine banks eye launch of digital ID registry in 2019
The registry will use blockchain technology for transactions and client identity.
Weekly Global News Wrap Up: Goldman-Apple deal targets mass market amidst shrinking trading revenue; Citigroup joins consumer payments battle
And here’s why banks and Silicon Valley fintechs clash over consumers’ data.
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1. Franklin Templeton gets approval to launch first retail tokenised fund in Singapore 2. UOB maintains profitability despite possible slower loan growth 3. Vietnam’s finance sector faces digitalisation challenges despite eased regulation 4. Japan’s SMBC is buying a 20% stake in India’s Yes Bank 5. GXS Bank names Pei-Si Lai as group CEOResource Center
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