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HSBC to shed $100b in assets in massive revamp
HSBC to shed $100b in assets in massive revamp
About 35,000 jobs may be axed over the next three years.
Weekly Global News Wrap: JPMorgan reshuffles investment bank; Fintech firm LendingClub buys Radius Bank for $158m
And customers were outraged by N26 UK exit.
Deutsche Bank floats FX digital platform in Sri Lanka
Clients can pay in local currency between two Asian markets.
Standard Chartered commits $75b for sustainability drive
By 2030, they will cease support for clients who get more than 10% of their profits from thermal coal.
COVID-19 pushes Thai asset manager to the top
Bangkok Commercial Asset Management’s shares ballooned by 74% this year.
China tops global mobile wallets usage
The country’s transaction value will hit $793.6b this year.
SGX FX futures trading volume hit $175.12b in January
USD/CNH and INR/USD futures both jumped.
Chinese banks' asset quality to deteriorate in 2020
Officials have ordered banks to lower lending rates and extend deadlines amidst the epidemic.
China's lenders to allow higher bad loans for COVID-19-hit firms
The People’s Bank of China will support qualified firms in order to resume production.
New Zealand retail lending to hit $265.6b in 2023
Total retail loan balance outstanding is set to reach the same amount.
HSBC faces third major overhaul
Biggest market Hong Kong is hit with anti-government protests and the COVID-19 outbreak.
Singapore to record anaemic loan growth of 1.5% in 2020
The COVID-19 and the expected monetary easing will weigh on banks.
Taiwan banks will manage the impact of COVID-19 oubtreak: Fitch
But they will experience stress from SME and personal loans.
Asian Development Bank worsens debt conditions: World Bank head
He hit the development banks in Asia, Africa, and Europe for lending too quickly to debt-heavy countries.
Weekly Global News Wrap: Credit Suisse CEO out over spying scandal; Wells Fargo chief reshuffles management
And German online bank N26 exits the UK.
Asian bankers ready for nCov deal droughts
Several auctions and potential Chinese IPOs are being delayed or re-assessed.
Hong Kong banks' earnings to remain weak as coronavirus cripple operations
Around 20-30% of bank branches will likely temporarily close or shorten operating hours.
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1. SeaBank Philippines rebrands name to MariBank Philippines 2. Ant International’s Antom launches agentic payment solution 3. CIMB names new growth markets, Singapore unit chief 4. ING expands eFX capabilities, sets up regional trading hub in Singapore 5. NAB names Kanishka Raja as CEO of UbankResource Center
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