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Weekly Global News Wrap Up: US banks face trouble beefing up mobile base; Embattled Wells Fargo's earnings crash to $5.19b in Q2
Weekly Global News Wrap Up: US banks face trouble beefing up mobile base; Embattled Wells Fargo's earnings crash to $5.19b in Q2
And an Islamic banking entity with about $92b in assets may be in the works. From Bloomberg: The biggest banks’ push into mobile is running out of low-hanging fruit. Bank of America Corp. added active mobile customers at a slower pace for at least the fourth quarter in a row in the three months through June. JPMorgan Chase & Co.’s active mobile customers increased 2.4 percent in second quarter. A year earlier, the jump was 4.1 percent.
Chart of the Week: Malaysian banks' bad loans down to 1.6% in May
Consumer gross impaired loan ratio has plunged to a historical low of 1%.
Chinese banks new loans hit $274.91b in June
Household loans dominated monthly lending.
7 in 10 Indonesian banks threatened by ride-hailing firm Go-Jek
The app’s wide payment capabilities poses a risk to conventional banks.
SIBOR set to buoy Singapore banks from slow mortgage growth
Every 10bps rise in SIBOR could offset a 1ppt slowdown in loan growth.
India's bad debt burden is the second worst globally
Trailing only behind Italy, the country has a bad loan ratio of 11.6%.
Myanmar steps up oversight over share acquisitions by foreign banks
Foreign investors are allowed to acquire up to 35% stake in local firms.
China greenlights establishment of overseas banks
Arab Bank has received the green light to set up a Shanghai unit.
Australian customers embrace smaller banks as top four bear brunt of scandal
Customer satisfaction was high for mid-sized lenders like Bendigo and ING.
Philippine banks explore blockchain for payment and remittance services
The central bank approved a pilot project creating a real-time remittance corridor.
Over three fourths of the Philippine population is unbanked
This translates to only 15.8 million Filipinos out of 103.3 million.
How will looser mortgage rules weigh down on Indonesian banks?
The central bank earlier scrapped the 15% required downpayment for first-time home buyers.
Chart of the Week: Check out how profitable Hong Kong banks were in 2017
Average NIMs of the largest lenders from 1.43% in 2016 to 1.54% last year.
Weekly Global News Wrap Up: Mastercard in talks to launch biometric payment cards; Uzbekistan opens door to Kazakh lenders
And here's how Citi's hoping to lure deposits without opening branches.
Higher mortgages loom as Singapore banks move to offset dismal lending
Some banks have been reportedly scrapping fixed deposit linked packages in favor of Sibor pegged packages.
Vietnamese banks' strong lending dampens capital raising activities
Loan growth of about 20% is outpacing internal capital generation.
Lending crunch fails to cripple Japan's mega banks as they join world's largest 20 lenders
MUFG is the ninth largest bank globally with a tier 1 capital of $153.04b.
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