Retail Banking
Industrial Bank of Korea fined $3.93m for selling fraudulent funds
Industrial Bank of Korea fined $3.93m for selling fraudulent funds
IBK sold fraudulent funds of Discovery Asset Management, according to FSC.
BRI employs AI ‘brain’ to merge its digital and physical presence
BRIBrain has helped the bank reduce loan application times from 2 weeks to 2 minutes
Philippine banks’ credit costs to further decline in 2022
Profits are expected to strengthen throughout the year as the economy recovers.
Bank of the Philippine Islands’ asset quality is on the path for improvement: S&P
The bank’s non-performing loans ratio is expected to further decline in 2022.
Weekly Global News Wrap: India poised for digital rupee launch; UBS reports best annual profits since GFC
And Goldman Sachs’ US staff returns to office for the first time in 2022.
Thailand to issue virtual bank guidelines and allow fintech investments by lenders: report
BOT is aiming to issue the new guidelines by June.
SEA banks' more crypto exposure could hit earnings in the long run: Fitch
Banks looking to dab in crypto face operational, reputational, and legal risks.
Maybank appoints Dato’ Khairussaleh Ramli as group president and CEO
He rejoins Maybank from RHB, where he served as group managing director.
Maybank SG new banking app enables online SME current account opening
The new Maybank2u SG (Lite) app offers e-angbao gifting and other money management features.
Weekly Global News Wrap: Bank of America's senior bankers receive pay raise; UBS buys wealth mgmt provider Wealthfront
And Deutsche Bank said it’ll undertake a $339m share buyback.
UOB injects $316m in capital to China subsidiary
Capital will be used to develop cross-border services and push sustainability strategy.
Merger of Philippine banks Landbank, UCPB to take effect on March
All accounts under UCPB will be transferred under Landbank.
South Korea completes first phase of digital currency feasibility test
The second phase of the test will be carried out until 22 June.
Indonesia’s big four banks’ asset qualities remain under pressure in 2022
The banks’ credit costs are sighted to remain elevated.
Union Bank’s capital buffers to weaken following Citi purchase: analyst
Any potential earnings boost remain uncertain; whilst reduced capital will take years to rebuild.
Standard Chartered appoints Roel Louwhoff as chief of tech, operations, and transformation
He replaces current COO David Whiteing, who is moving back to Australia.
UOB’s purchase of Citi ASEAN retail assets improves profits, accelerates expansion
It is expected to add S$1b in profits annually, with earnings accretive beginning 2023.
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1. UOB to take legal action against Yang Kee Logistics’ ex-CEO 2. OCBC to finance $10.9b of investments to UK growth sectors 3. Singapore’s financial sector turns to contract hiring for cost control 4. India’s credit card spend slumps 9% MoM to 7-month low 5. ANZ moves up incoming CEO Nuno Matos’ start date to May 12Resource Center
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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