Staff Reporter
Alternative payments make up 72% of China’s e-commerce market
Alternative payments make up 72% of China’s e-commerce market
The e-commerce market is expected to grow 10.5% in 2022.
India’s buy now pay later market to be worth $15b in 2026: analyst
Amazon Pay Later has over 3.7 million registered users in 2022.
Citi names new execs for 3 divisions
The new senior hires will take over their posts immediately.
HSBC taps former Citi head to lead its wealth and personal banking business
Ashmita Acharya will take over the post on 18 January 2023.
FTX-tied assets of Singapore users not protected by MAS: statement
FTX is not licensed by MAS, operates offshore, and did not actively solicit Singaporeans, the central bank said.
Wong says SG had plans to tighten rules on crypto even before FTX bankruptcy
Singapore is open to digital innovation but not crypto speculation.
Citi, Zurich Insurance launch customizable insurance proposition
Demand for insurance sold online almost doubled in September, the insurer said.
Weekly Global News Wrap: Crypto exchange FTX owes $3.1b to creditors; Deutsche ex-trader sues bank for $150m
And Italy’s UniCredit gives German staff bonuses up to 2,500 euros for inflation.
Malaysian banks’ asset quality to deteriorate in 2023 as moratoriums expire
NPL ratio may rise to up to 3% over the next two years.
Gap to widen between India’s public and private banks: S&P
Large private banks will outperform their publicly-owned peers, the ratings agency said.
How GCash cornered the Philippines' ‘sachet’ economy
The app has over 66 million users in a country of more than 111 million.
Vietnam headed for swift credit growth in next 12-18 months
Loans may expand between 15% and even up to 30%, said S&P’s Amit Pandey.
Philippine banks’ bad loans ratio to decline in 2023: S&P
But should interest rates rise sharply, banks may face more defaults.
Property risks manageable for Hong Kong banks: analyst
But uncertainty in border restrictions with China will subdue wealth management, bancassurance.
China’s banking sector to polarize in 2023; weak banks face failure
Overall loan growth will come below 10% in 2023, says S&P.
Bangladeshi banks face weak profitability in 2023: S&P
The COVID measures, which have yet to be relaxed, will squeeze banks’ margins.
Malaysia’s Public Bank enables Google Wallet payments for Visa card holders
They are amongst first to enable it in Malaysia.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Union Bank of the Philippines ‘aggressive’ growth strategy brings more problem loans 4. Bank of America appoints Phil Carmalt as head of APAC GPS 5. HSBC Singapore unveils wealth centre at The Star Vista mallResource Center
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Compliance and legacy systems stall B2B payment shift
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The Asian connection: China's path to sustainable growth