Frances Gagua
China’s shadow banks scramble for new business as property credit collapses: report
China’s shadow banks scramble for new business as property credit collapses: report
One shadow banking employee saw his yearly pay plunge from $500,000 to $34,000.
Weekly Global News Wrap: Cash use down to 15% of British shopping transactions; Goldman Sachs to cut senior bonuses
And Credit Suisse closes $4.25b capital raising.
Hong Kong’s Fusion Bank offer digital loans for BYD electric cars
The loan has an annual percentage rate (APR) of as low as 3.9%.
9 in 10 finance professionals say open banking is a key part of a bank’s landscape
More than half said it’s now a “must-have” for banks.
DBS to launch IATA Pay in Hong Kong, Indonesia, Singapore
Airlines can access up to US$20b in savings from payment processing fees.
CIMB unveils sustainability-linked treasury programme
Clients may get a rebate upon achieving ESG-related targets.
Hong Kong’s livi bank, FWD General Insurance launch home insurance plan
Those who avail of the plan can enjoy insurance coverage of up to HK$5m.
Malaysian banks “well-placed” to weather 2023 headwinds: S&P
Credit costs are expected to stay flattish and slowing credit growth should be manageable.
UOB transforms HR services with Workday’s Human Capital Management
Enhanced data analytics enables UOB to make improved real-time HR decisions.
Citi Bangladesh names Md. Moinul Huq as Citi Country Officer
He has over 25 years of experience across a number of banking fields.
Citi announces leadership appointments in Asia Pacific Markets business
The new heads will be based in Singapore and Hong Kong.
Hong Kong’s livi bank unveils new app interface, adds rewards feature
Customers can win cash rewards and enter a lucky draw to win round-trip tickets to Hokkaido.
HDBank to issue $500m in convertible bonds to international investors
Proceeds will be used for the bank’s medium and long term capital.
For French fintechs, Asia is a land of opportunities and learning
Compared to Europe, fintechs in Asia have struck a balance with banks, says Bpifrance Deputy CEO Arnaud Caudoux.
Weekly Global News Wrap: Citi negotiating return of $500m Revlon loan payment; Well Fargo cuts mortgage roles
And US banks report $71.7b profit in Q3.
ZA Bank kicks off sandbox trial for online business account opening service
Trial for ZA Dash will run until 30 December.
DBS Hong Kong names Wallace Nam as head of institutional banking
Prior to joining DBS, Nam served various leadership roles in HSBC.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. HSBC Singapore unveils wealth centre at The Star Vista mall 4. UOB inks MOU with Accenture for AI adoption and application 5. Citi names Goldman Sachs banker as head of markets solutions in Asia South & NorthResource Center
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The Asian connection: China's path to sustainable growth