Staff Reporter

Monthly write-offs rose whilst the amount of undue balance fell.

RMB deposits rose over 2 trillion dollars from households and NBFIs.

Outstanding renminbi loans grew, but foreign currency loans dropped.

The central bank is also looking to strengthen its asset management capacity.

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Fusion Bank can utilise WeBank’s digital banking tech.

It finalized the acquisition of MexPago and obtained a license in Brazil.

Indonesian banks are in-line to deliver profit growth.

Banks will face ‘minor but manageable’ pressure on such portfolios.

SMBC will structure loans based on valuations made by two firms.

Cumulative remittances are on track to rise by 3% for 2024.

The bank is also strengthening its safe deposit box checks and procedures.

Offshore loans for Chinese corporates drove Hong Kong’s loan volume, totalling to US$66.7b or a 19.5% increase compared to 2023.

Key driver was the borrowing activity by commodities firms, which accounted for US$18.4b or 23% of the total loan volume

It will broaden overseas investment channels for mainland institutional investors, a DBS managing director said.

It now holds almost $666.9m in deposit balances.