Staff Reporter
APAC emerging banks’ profits to benefit from higher rates in 2024
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.
Banks face negative outlook in 2024 amidst bad loans, higher costs
ASEAN banks, however, will benefit from policy changes arising from geopolitical tensions.
Digital wealth platform Endowus partners with Brookfield Oaktree Wealth Solutions
Brookfield has US$850b in AUM whilst Oaktree has US$183b in AUM.
Deutsche Bank raises US$141m from second Panda Bond issuance
The German issuer had earlier raised US$143m in January.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
