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Property exposure risks remains Cambodian banks’ Achilles heel: analyst
Property exposure risks remains Cambodian banks’ Achilles heel: analyst
Profitability will remain under pressure due to stiff competition and high costs.
Australia to amend retail payments regulation in 2024: governor
Reforms will include better cost transparency from BNPL, mobile wallets.
Laos, Vietnam ink MOU for cross-border QR code payment linkage
The MOU will facilitate the use of local currencies in retail payments in the two countries.
APAC emerging banks’ profits to benefit from higher rates in 2024
Expect some minor asset-quality deterioration, however.
Foreign banks in China grapple with asset quality stress, regulation fluctuations
Their assets make up 1.3% of the system as of H1 2023.
Deutsche Bank, CIMB team up to expand Shariah-compliant custody services offerings
CIMB Islamic also named Deutsche Bank as its foreign custody services support.
Indonesia, Korea unveil operational guidelines for local currency transactions
This is part of the two countries’ agreement to promote bilateral transactions in local currency.
SC Thai to maintain robust capitalisation, but profitability volatile: expert
The bank is expected to receive support from its parent SC in case of times of need
Hong Kong publishes revised code of banking practice
Institutions are expected to achieve full compliance within 6 months.
Maybank Singapore appoints Alvin Lee as new CEO
Lee is currently head of group wealth management and community financial services.
Malaysia’s CIMB Bank unveils personal loan service for EPF members
They can receive up to RM50,000 in financing.
Gen AI to add up to $340b new value to banks: McKinsey
It will add $56b and $54b in new value to corporate and retail banking, respectively.
Corporate lending in South Korea rise in Q3
Depository corporations increased industrial lending by approximately US$24.41b
SMBC hires ex-Nomura banker as head of APAC private credit distribution
Yew Chuan Sim will lead the bank’s distribution efforts in APAC.
Weekly Global News Wrap: US regulator warns of BNPL risks; Citi overhaul to cost $1b, done by Q1
And Moody’s put Hong Kong and Macau banks on downgrade warnings.
SMBC India names Sandeep Chopra as head of corporate coverage
Chopra reports to Rakesh Garg, chief business officer of SMBC India.
Hong Kongers used credit cards more on average in Q3: study
Card origination volumes contracted, but average card limits are higher.
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1. CIMB Philippines says fund transfer issue ‘resolved’ 2. UOB inks MOU with Accenture for AI adoption and application 3. Cambodia and Japan enable QR code payments between the two countries 4. Standard Chartered appoints Noelle Eder as group head of tech & operations 5. HSBC group chairman Mark Tucker announces retirementResource Center
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