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South Korea’s chief financial regulator urges banks to reduce interest income dependence: report
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.
UPI’s linkage to SG’s PayNow a step closer to global payment brand ambitions: analyst
UPI registered a 75.9% growth in 2022.
Citibank Singapore names retail banking head
Matt Read’s appointment will take effect on 17 April.
Thailand’s KBank eyes to be amongst Vietnam, Indonesia’s top banks
The bank aims to increase its international business income to 4% of its total net income.
UOB Group posts record core net profit of $4.8b in FY22
Compared to FY21, the group’s core net profit rose 18%.
SG, India enable real-time cross-border payments
This is possible with the linkage of PayNow and India’s Unified Payments Interface.
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