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Philippine banks to offload bad loans via asset management firms
Philippine banks to offload bad loans via asset management firms
They will be granted tax incentives to cover transferring costs.
India shortlists four mid-sized banks for privatisation
Two of those lenders will be selected for sale in FY2021/2022.
Weekly Global News Wrap: Investment banking propels Deutsche Bank to 2020 profit; BNP Paribas posts $2.9b Q4 net profit
And Italy's Intesa CEO said wealth management 'too pricey' for large deals.
Fintechs' latest acquisitions hint at ASEAN banking sector shake-up
But they are unlikely to pose a challenge as newcomers and incumbents target different clients.
Weekly Global News Wrap: US regulator rules banks cannot refuse lending to certain sectors; JPMorgan beats Q4 2020 profit expectations
And Goldman Sachs mulls deals to boost consumer banking unit Marcus.
Two in five Indian adults to have a digital bank account by 2026
Up to 373 million locals could open a digital-only bank account in the next five years.
Philippine banks' COVID-19 rebound faster than in 1997 crisis: banking group
Local lenders may rebound in three to four years.
Even with the arrival of the digital banks, don't write off the incumbents
Much has been written about the likely death of incumbent banks in the face of coming competition from neobanks (or digital banks) soon to be launched...
India's HDFC Bank posts $1.2b in Q3 profit
Gross bad loan ratio shrank to 0.8% at end-December.
OCBC launches COVID-19 employee vaccine support programme
The bank will provide vaccine education as well as support for side effects.
Indonesia's BRI to raise $1b in rights issue
It wants to strengthen its capital base for possible acquisitions.
Indian central bank drafts scheme for Lakshmi Vilas, DBS India merger
DBS will inject $345m into DBIL if the scheme is approved.
Weekly Global News Wrap: Full pandemic impact on Europe banks unclear til 2021; England mulls new capital rules for small banks
And Spain's BBVA sells US business to PNC Financial Services for $11.6b.
Earnings boost for Australian banks in 2021, but headwinds persist
Deterioration in asset quality will likely emerge in 2021.
Rough road ahead for big three banks after improved Q3
OCBC, DBS, and UOB’s earnings rose in Q3—but 2021 presents a tough test as fiscal, monetary relief gets withdrawn.
Westpac to exit China, other Asian markets
It will consolidate operations into branches in Singapore, London, and New York.
Philippine banks remain firm, but headwinds loom: Fitch
Weak local consumption and high credit impairment are fanning the fire.
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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. ANZ moves up incoming CEO Nuno Matos’ start date to May 12 5. India’s credit card spend slumps 9% MoM to 7-month lowResource Center
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
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