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Weekly Global News Wrap: UBS appoints Sergio Ermotti as group CEO; French authorities search banks on suspicion of fiscal fraud
Weekly Global News Wrap: UBS appoints Sergio Ermotti as group CEO; French authorities search banks on suspicion of fiscal fraud
And a top US regulator said Silicon Valley Bank did a terrible job of managing risk.
Philippine President supports the merger of two state-run lenders
The merger of the two banks would make it the largest Philippine bank in terms of assets.
Crédit Agricole CIB opens wholly foreign-owned enterprise in Mainland China
The business will focus on cross-border mergers and acquisitions, encompassing purchases, disposals and capital raising.
HSBC launches AI-driven structured product for private banking clients in Asia
The portfolio is rebalanced weekly.
Hang Seng Bank, Chubb enter exclusive 15-year distribution agreement
Chubb will offer Hang Seng banking customers general insurance products and solutions.
Citi makes two key appoints for markets, TTS business
Vandana Bhatter and Anoushka Dua have been named in key ASEAN leadership roles.
Standard Chartered arranged $89.6m green loan for Vista Shipping
The funds will be used to buy two LNG-dual fuelled vessels.
Reserve Bank of India grants Paytm regulator extension for PA license
The fintech company is still awaiting approval from the Government of India (GoI).
Hong Kong’s Fusion Bank launches investment services
They can use the services for a subscription fee of as low as HK$10 or US$1.
Shinhan Bank and E9Pay team up for overseas payment platform
The payment system will cater toward foreigners residing in South Korea.
Chart of the Week: Over 1 in 4 of Taiwan’s online transactions use alternative payments
Over a quarter of Taiwanese online shoppers prefer to pay via alternative payment methods.
Cambodia inks MOUs with Solomon Islands, Fiji for payments innovation
The MOU will see the three countries cooperate in financial innovation.
Project Nexus successfully links Eurosystem, Malaysia, Singapore’s payment systems
For the next phase, Indonesia, Thailand, and the Philippines will link their payment systems with Singapore and Malaysia.
OCBC has disbursed S$3.5b under Eco-Care Loans
Two thirds of Eco-Care Home Loan customers live in HDBs.
HSBC GPB appoints Henry Lam as APAC head of wealth planning and advisory
Lam joins from Credit Suisse.
Walter Liu appointed as new American Express’ head of Asia Region
He will manage American Express teams across Hong Kong, Taiwan, Singapore, and Thailand.
Hang Seng Bank prime lending rate unchanged at 5.625%
The HKD bonus interest rate was also unchanged.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Bank of America appoints Phil Carmalt as head of APAC GPS 4. HSBC Singapore unveils wealth centre at The Star Vista mall 5. Citi names Goldman Sachs banker as head of markets solutions in Asia South & NorthResource Center
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