Staff Reporter
RHB Bank net profit rise in 2023; net credit costs to rise in 2024
RHB Bank net profit rise in 2023; net credit costs to rise in 2024
Net interest margin is expected to be “flattish” in 2024 at 1.9%.
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
South Korea’s interest rates for new deposits, loans fall in January
Average interest rate for new loans taken by large firms dropped 12 basis points.
Japan banks’ domestic assets at $9.4t in January
Banks hold an additional US$1.6t of assets in their overseas branches.
JCB offers 10% cashback to Skyliner ticket
Members with a JCB card issued outside of Japan can avail of the cashback.
South Koreans’ card spending up 32% to $19.22b in 2023: report
The number of Koreans who traveled overseas tripled in 2023.
Digido has served 1 million customers
Over 3 in 4 of the loans disbursed in 2023 were from repeat customers.
Weekly Global News Wrap: BBVA sets up finance unit for clean tech; Wells Fargo sued for ‘fake accounts’ scandal
Top regulator calls for EU banks to improve risk management.
Number of fintechs in SEA to double by 2027
Singapore will have 867 fintechs for every 1 million people, UnaFinancial said.
CIMB net profit up 28.3% in 2024; special dividend proposed
The 7 sen special dividend is separate from the annual dividend of 36 sen per share.
Tiger Brokers introduces debit card that gives fractional shares as rewards
It can be added to Apple Pay or Google Pay wallets for contactless payments.
Indonesia’s Islamic financing to expand by 10% -12% in 2024: deputy gov
Indonesia’s sharia economy and finance maintained positive growth in 2023.
Malaysia, Cambodia float plans to link domestic payment systems
They are also aiming to eventually enable cross-border QR payments between the two countries.
Maybank’s full year net profits up 17.5% to $1.96b
The total dividend of 60 sen per share is its highest post-pandemic.
Hang Seng Bank expresses support of budget measures for SME, financial market
Amongst initiatives were the advancement of digital finance and support for SMEs.
Digital bank deposits to surpass $20t by end-2024
Convenience of remote banking has changed how people manage their money.
StashAway launches wealth management offering for Hong Kong’s HNWs
HNW clients make up 65% of StashAway’s AUM in the city.
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