Staff Reporter

HSBC cuts Philips’ currency transactions in China

‘Netting’ cut Philips’ cross-border transactions from 4,000 yearly to just one a month.

Five M&A themes in the banking sector in 2025

Smaller banks may seek M&As to solve or mitigate compliance costs.

Weixin Pay users flock to Hong Kong, Japan for Spring Festival holiday

The use of promotions or “mini programs” doubled in Japan.

ZA Bank partners with TransUnion to offer credit alert service for free

It notifies of new credit accounts opened under their name, amongst others.

Kasikornbank headed for year of portfolio clean-up

UOB Kay Hian “surprised” regarding the Thai bank’s flat loan growth target.

Mizuho’s profits tripled in 9M FY2024

Consolidated gross profits rose 288.9% thanks to the rate hike and NII growth.

Malaysia’s private non-financial sector loans up 5.2% in Dec 2024

Business loan growth moderated although SME loan growth was “sustained.”

Asia’s fintech transactions to reach $19t by 2025: UnaFinancial

Asian fintech transactions reached $16.8t in 2024, according to the report.

Nearly 90% of Singapore banks lose clients due to onboarding delays

Singaporean banks have been experiencing the highest client losses worldwide due to Know Your Customer (KYC) inefficiencies. 

Citi appoints Christie Chang as CEO for Taiwan

She succeeds Aftab Ahmed, who retires after 50 years with Citi. 

UBS net earnings dwindles to $5.1b in FY 2024, revenues up globally

Asia operations pencilled a profit before tax of $271m

SG, Indonesia FinTech startups funding decline in 2024

Singapore tech startups raised $2.1b whilst Indonesia funding declined by 75%.

Alipay overseas transactions spike 30% amidst new year festivities

Singapore registered the fastest growth of 56% YoY.