Staff Reporter
Weekly Global News Wrap: HSBC gets approval to sell Russia unit; Chinese banks approve $17b property loans
Weekly Global News Wrap: HSBC gets approval to sell Russia unit; Chinese banks approve $17b property loans
And China cuts 25 basis points to five-year loan prime rate (LPR).
UOB hit record S$6.1b net profit; final dividend is 85 cents per share
Higher credit card and wealth management fees pushed fee income growth in 2023.
UOB giving out extra one-off bonus to 6,000 junior employees
This is to help them cope with rising costs of living.
Hang Seng profits up 58% to $2.28b in 2023; Dividend is HK$6.5 per share
A fourth interim dividend is HK$3.2 per share.
Fintech UNOAsia raises $32.1m in pre-series B round
It will support efforts to scale up UNO Digital Bank in the Philippines.
South Korea’s household loans rose by $4.8b in Q4
Loans extended by banks rose by $8.5b during the period.
Mizuho seeks to remain amongst top 10 global investment banks: report
Investment banking head Naoki Takahashi wants to challenge bulge-bracket banks.
Judo Bank poised for growth over next two years
Strong margins, rising lending assets will push it to expand.
OCBC gives S$9m support to 14,000 junior employees
Payouts will be made between February to March 2024.
Hong Kong’s credit card issuers advised to seek more merchant deals
Most issuers focus more on onboarding card users, the study found.
Standard Chartered names Jacob Berman as Australia CEO
Berman first joined SC in 2012 and has worked in Singapore and Dubai.
BOCHK warns of phishing emails
It has reported the case to Hong Kong authorities.
Mizuho designates US intermediate holding company
It is required under the US Federal Reserve Board’s Regulation YY.
Mizuho Bank acquires all shares in pension subsidiary
DPCS operates a call center and online services offering defined contribution pension plans.
Citi names Joy Cheng as head of Hong Kong commercial bank arm
Cheng brings 30 years of banking experience to the role.
Citi completes proof of concept on tokenization of private funds
It found new functionalities that could lower barrier-to-entry, Citi said.
South Korean banks’ lending to companies up in January
This was due to season factors.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
