Staff Reporter

Chinese banks' bad loans to hit $95b in 2024

Stress from property sector continues to weigh.

Asian Banking and Finance Forum 2023 arrives in Jakarta in May

Attendees will gain firsthand insights into the trends and developments in Asia’s banking and insurance sector.

Digital finance platform Funding Societies has disbursed $3b of funding to SMEs

The company offers lending, payments, and collections services.

Brankas-MPT mobility partnership grants motorists quick toll reload via bank accounts

This collaboration targets to attract new app users that will benefit from lower service fees.

South Korea’s central bank unveils system for verifying AI use in credit scoring

Credit bureaus will be supervised under this new verification system.

Alternative payments account for 43.3% of e-commerce purchases in Hong Kong

Over 90% of Hong Kong consumers have shopped online over the past 6 months.

MAS chief Ravi Menon set to step down in 2023: report

Chia Der Jiun is tipped to be the next managing director of Singapore’s central bank.

VPBank’s stake sale to SMBC to uplift its capital, balance growth plan

But “aggressive” growth plan, real estate sector woes will weigh on asset quality.

Hang Seng cautions clients against phishing scams and fraudulent websites

Phishing messages can steal users' personal details through prompted links to fake websites.

Australia, New Zealand’s banks face higher costs, weaker profits in H2 2023

Overall performance will be broadly similar to 2022, according to S&P Global Ratings

OCBC and SG police force prevent scam losses worth S$12.6m

About 700 victims were safeguarded from potential loss.

Bank of Ayudhya’s profitability recovers to pre-pandemic levels

Bad loans are expected to stay at a ratio of 3% over the next 12 to 18 years.

UOB sets new tech and innovation hub in Punggol Digital District

This is the first Singapore local bank to establish a presence in the district.

End-to-end redesign, customer satisfaction key trends for Thailand’s banking leaders

Industry leaders and experts from 29 different organisations gathered for the Asian Banking & Finance Bangkok forum held at JW Marriott Bangkok on 4 April.