Retail Banking
Ping An Bank profits up 45% in Q2, but NIM contraction to continue
Ping An Bank profits up 45% in Q2, but NIM contraction to continue
Whilst fee income and loan growth is robust, capital position weakened.
Hong Kong’s ZA Bank hits 400,000 users
This is equal to 5% of the city’s total population.
Citibank Korea postpones exit plan decisions until September —report
This marks the second delay in its exit plan decision.
SMEs mull switch to fintechs, digital banks as main finance service provider
More than one in three APAC SMEs consider switching to fintech.
Chinese banks’ posed for e-payment scene comeback with digital renminbi’s launch
The e-CNY will support growth of banks’ e-payment customer base and improve overall financial stability.
Security Bank posts net profit of $61.35m in H1
Net interest income and non-interest income both fell compared to H1 2020.
Improved outlooks on the horizon for Chinese finance companies
Policies to slow debt growth and control property prices appear to be working, abating economic risks.
Thai banks sufficiently buffered against ongoing risks: Fitch
Escalation of the pandemic in Thailand will significantly affect business activity in H2.
Hong Kong lenders gear up sustainability initiatives as post-pandemic era dawns
The total combined headcount across 18 banks in the city is down 2,000 from just 12 months ago.
Weekly Global News Wrap: Tether execs face criminal probe for bank fraud; Credit Suisse taps Goldman Sachs partner as new chief risk officer
And PayPal to research US transactions that fund hate groups and extremists.
South Korea’s Kakao Bank to raise over $2.2b in IPO
Shares were priced at the top end, at KRW39,000 ($34).
Citi Commercial Bank enables digital account opening in Hong Kong, Singapore
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionBank clinches Philippines’ 4th digital bank license
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
Digitalisation creeping into non-tech roles as Singapore banks accelerate hiring
The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.
India’s private banks to widen gap with state peers when economy rcovers: report
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
Fintechs could overtake Philippine banks in retail segment: Moody’s
Banks' slow development of digital financial services may just give fintechs an edge.
India’s banking system privatization plagued with capital, regulatory woes
They need to pump money into lenders before selling them if they want to make them more attractive to potential buyers, reports S&P.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
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Young Malaysians, big money mistakes: What’s going wrong with Islamic financial behaviour?