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Malaysia fines two money services firms for non-compliances
Malaysia fines two money services firms for non-compliances
Merchantrade and JAGS were penalized for non-compliance with the Money Services Business Act 2011.
MUFG’s Indonesian loan subsidiaries announce merger
MFIN will be dissolved, and ADMF will be the surviving entity.
ZA Bank reports HK$548m net revenue and narrows losses by 42%
Net interest income is 86% higher in 2024.
Hong Kong deposits up 0.8% in March
HKD and total deposits rose, but renminbi deposits declined.
HSBC profit after tax down 30% in Q1
The gap was reportedly due to the over $3b it got from sales in Q1 2024.
HSBC group chairman Mark Tucker announces retirement
The HSBC board has commenced the process to select a successor, it said.
Hong Kong mortgages in negative equity rose to over 40,700 in March
The three-month delinquency ratio rose slightly.
Standard Chartered appoints Noelle Eder as group head of tech & operations
She is based in Singapore and reports to group chief exec Bill Winters.
APAC banks slow to update decision rules: survey
Just 27% of banks report frequent use of simulation tools.
Hang Seng Bank rolls out payroll perks for savings-focused users
They do so to achieve financial flexibility, said Hang Seng Bank.
Financial inclusion in Asia may reach 80.2% by 2030: study
Digital transformation and improvements have helped in this regard.
UOB inks MOU with Accenture for AI adoption and application
UOB will also upskill its employees.
Financial services, insurance lose $2.2m per hour from outages: study
The value they lose is 16% higher than the average across all industries.
Open banking users to rise threefold through 2029
It is estimated that there are 183 million open banking users in 2025.
NAB expands weekend access to Chadstone branch
The Australian bank has invested A$38m in renovating and upgrading its branches.
Westpac names Carolyn McCann as acting chief exec for its consumer division
The Australian Bank is doing an external search to fill the role permanently.
Bank Central Asia’s net profit up 9.8% to IDR14.1t
Double digit loan growth and net interest margin expansion helped push profits up.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
