Staff Reporter
Hong Kong mulls raising deposit protection limit to HK$800,000
Hong Kong mulls raising deposit protection limit to HK$800,000
The raise is 60% higher than the previous protection limit of half a million dollars.
Korean financial regulator vows to fight contagion risks from property financing: report
Lee called these real estate PF risks a “detonator” of the South Korean economy.
Korea’s Woori Financial Group logs 19% lower net income in 2023
Dividend income was 50% higher, however.
National Australia Bank appoints Andrew Irvine as new group CEO
He will also become NAB’s managing director, beginning 2 April.
DBS CEO Piyush Gupta takes S$4.14m variable pay cut for tech disruptions
The group management committee’s compensation was reduced by 21%.
DBS proposes bonus share issue for shareholders
The bank plans to give one bonus share for every 10 ordinary shared held.
APAC banks face mounting credit losses from property exposure
Credit losses could rise 7% to $490b in 2023, S&P Global Ratings projected.
Record total income for DBS exceeds $15b FY’23
DBS’ profits soar to $7.7b in 2023.
Citi names Cristina Chang as head of markets for Australia, New Zealand
Chang will retain her role as head of asset backed financing.
Mizuho Financial Group’s net income up 18.2% to $4.3b in 9M FY2023
Its gross profits and credit costs rose.
SMFG profits up 3.5% to $5.3b
An earnings per share of approximately $4 has been announced for the period.
SG AI fintechs score funding wins amidst fintech investment downturn
This bucked the global trend, where AI fintechs overall clinched less investments.
PH central bank optimistic it’ll achieve digital payment targets
The country aimed to have 50% of all retail payments be digital by end-2023.
India’s Paytm meets with central bank following suspension of deposits: report
Paytm is reportedly seeking to extend the RBI’s 29 February deadline, a source said.
Thai banks’ credit costs rise as tech difficulties, bad loans pile up
Despite their targets to decrease costs, three banks saw them rise instead.
Commercial property woes weigh on Hong Kong banks
But receding risks in mainland China properties will help offset impact, says Fitch.
SMBC appoints ex-Credit Suisse China CEO as new APAC managing director
Carsten Stoehr will join SMBC on 19 February after 25 years in Credit Suisse.
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1. Mizuho to acquire majority of Upsider’s shares for $309.8m 2. Singapore launches electronic deferred payments to ease cheque phase-out 3. SMBC appoints Joy Kwek to lead capital markets & solutions in APAC 4. NAB invests $55m to upgrade over 100 branches across Australia 5. Airwallex gains capital markets services license in SingaporeResource Center
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