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Weekly Global News Wrap Up: EU banks' foreign deposits fall amidst money laundering probe; Sweden mulls bank tax
Weekly Global News Wrap Up: EU banks' foreign deposits fall amidst money laundering probe; Sweden mulls bank tax
And a California bill proposes creation of local banks.
Malaysian bank loan growth up 5.6% in 2018
Corporates and households drove yearly lending demand.
Chinese banks urged to ramp up lending to rural businesses
Outstanding loans to rural areas already hit $4.91t in 2018.
Korean banks to maintain London operations despite Brexit: report
Reports noted that banks considered Frankfurt for their new locations amidst Brexit fears.
Japan banks bid goodbye to centuries-old tech in paperless shift
Hanko or personal stamps are being phased out.
Chinese banks' new loans falls sharply to $131.8b in February
This is only a third of the $480.75b in loans issued in January.
E-money transactions in Indonesia hit $3.3b in 2018
Users turned to digital money for e-commerce, mobile SIM top-ups, and public transport.
Trade tensions fail to rattle Chinese banking outlook: survey
Two in 5 bankers believe China’s economy will grow by around 6.5-7%.
Malaysian banks' earnings rose 7% in Q4
Lumpy recoveries of Maybank, AmBank, and Hong Leong Bank boosted the sector’s earnings.
Chinese banks' record-high lending boost only short-term gains
Short-term loans surged 57.8% in January whilst mid- and long-term loans only rose 5.3%.
Korea's open banking system threatens dominance of credit card issuers
Credit card issuers may lose their tax incentive to fintechs.
Singapore bank NIMs to widen despite rising costs
SIBOR has risen 6bps YTD and is expected to rise further.
Regulatory scrutiny weighs on Australian banks earnings
Lenders already struggle with weak loan growth amidst the housing downturn.
Weekly Global News Wrap Up: Russian money laundering scandal sweeps European banks; Wells Fargo shells out record $240m settlement over bogus accounts
And JPMorgan Chase is moving away from prison finance.
Chart of the Week: Indian banks hit by liquidity crunch
The growth in bank credit has eclipsed that of deposits which aggravated liquidity shortage.
Japanese players cash in on China's financial opening as US banks flounder
JPMorgan Chase is still stuck in application stage despite passing an application in May 2018.
Earnings gap between Indonesian banks widen as small players struggle
The 2018 profits of Book II banks dropped to $648.66m from $726.38m in 2017.
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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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