Staff Reporter
Australia’s mortgage arrears to rise as interest rates erode borrowers’ savings
Australia’s mortgage arrears to rise as interest rates erode borrowers’ savings
Many lenders have seen a sharp rise in prepayment rates.
Citi Hong Kong to buy 106.4 million kWh renewable-sourced electricity
The deal is estimated to reduce carbon emissions by 41,496 tonnes.
Citi completes sale of India consumer business to Axis Bank
Approximately 3,200 Citi employees have been transferred.
Citi completes sale of Vietnam retail banking, credit card units to UOB
This includes the turnover of approximately 575 related staff.
Thais should invest in Japan’s real estate amidst yen depreciation: Bangkok Bank
Yen has depreciated by up to 30% so far, offering great opportunities for clients to invest.
South Korea’s chief financial regulator urges banks to reduce interest income dependence: report
Lee Bok-hyun said the FSS is looking for ways to encourage lenders to diversify income streams.
South Korea reviews allowing insurers to conduct banking operations
A task force was formed to look into this.
WealthTechs win by managing wealth and not the wealthy
WealthTechs are breaking down barriers to entry by fractionalising costs of assets, analysts said.
Revised capital rules a positive for Chinese banks’ operating environment
It is expected to have minimal impact on local banks’ capital position.
Citi appointed depositary bank for Hangke’s GDR program
This is in connection with Hangke’s $172.85m IPO of tis GDRs.
Maybank Singapore’s profit before tax doubles to S$655.92m in 2022
This was reportedly thanks to higher income and lower loan loss allowances.
Maybank’s net profit up 1.6% to $1.8b in 2022
Improving regional economic activities and lower net impairment losses led to the growth.
Beijing’s China Renaissance said missing chairman assisting PRC authorities
Bao Fan was first reported missing on 16 February.
India’s card payments market to grow 23.6% to $361.6b in 2023: analyst
Rising consumer spending will rally the market to extend 2022’s growth.
HSBC welcomes Hong Kong’s HK$100m bid to attract family office
Hong Kong is aiming to attract 200 family offices to set up shop in the city by 2025.
Weekly Global News Wrap: US regulators warn banks on liquidity risks from crypto deposits; Wells Fargo lays off hundreds of mortgage bankers
And Europe bank stocks could still rally higher, analysts said.
OCBC reports record net profit of S$5.75b in 2022
Full-year dividend is at 68 cents per share, 28% higher than in 2021.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
