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Weekly Global News Wrap: JPMorgan to pay $1b for China fund JV; Credit Suisse mulls job cuts
Weekly Global News Wrap: JPMorgan to pay $1b for China fund JV; Credit Suisse mulls job cuts
And Australia's BNPL firm Afterpay to acquire Spain's Pagantis.
APAC banks face varying effects of ultra-low rates
Typical challenges include weak interest income and NIM compression.
Chinese banks' liquidity still enough despite key metrics slumping
Asset quality grew 10.8% in Q2 from 9.4% a year earlier.
China's megabanks ramp up employment despite falling profits
The Agricultural Bank of China has already hired 4,500 people.
South Korean banks' FX deposits hit record $87.4b in July
Dollar deposits gained $2.76b during the month.
Chinese banks face first H1 profit drop in a decade
The regulator has urged banks to recognise bad loans and hike buffers.
Economic shock to hurt India's public sector banks
The government will be the likely source for recapitalisation.
Virtual banks unlikely to threaten incumbent ASEAN banks: Fitch
Their digital edge, branchless model, and cost-efficiency plans give little edge against established lenders.
Asset quality, earnings pressure loom over Australia's big banks
There is underlying economic uncertainty due to rising infections and stricter restrictions.
Thai banking system still strong despite lower profits: central bank
Capital funds and provisions were raised to guard against the slump.
Singapore's retail loans to shrink 2.5% in 2020
New loan applications have declined as consumers are cautious of falling under debt.
Singapore regulator assures that citizens are well-represented in local senior roles
Singaporeans make up 43% of senior management roles in the local banking sector.
Weekly Global News Wrap: Over $425b European loans deferred; Goldman Sachs, Barclays mull buying GM's credit card arm
And JPMorgan hires former UK finance minister Sajid Javid.
Indian prime minister keen to ramp up stake sale of four banks: report
The government is pushing for privatization to help raise funds for its budget.
South Korea's major banks likely to retain aid for small firms
Authorities are seen to ask banks to extend support beyond September.
China's new loan prime rate to further hurt banks' profitability
The decline in average loan yields will deepen as more loans are repriced.
PBOC injects cash into banks to ease stress
It added $101b (CNY700b) of one-year funding via the medium-term lending facility.
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