Frances Gagua
China CITIC Bank and HKA launch travel card
China CITIC Bank and HKA launch travel card
Cardholders can earn up to 26,000 points when spending HK$25,000 within the first 5 months of issuance.
Hang Seng Bank executes pilot trades under RMB Trade Financing Liquidity Facility
It is one of the first banks to participate in the facility.
CIMB’s net profit up 10.7% to $1.71b in 2024
They’ve proposed a second interim dividend of 20 sen per share.
DBS and SMF partner to drive sustainability in SG’s manufacturers
They aim to support 500 small and mid-sized manufacturers.
India’s restored risk weights offer modest impact to banks
The move will enhance flow of credit from banks to better-rated NBFCs.
Alliance Bank’s net profit up 7.9% to $123.9m in 9M FY2025
Overall loans rose 14.2%, with commercial loans growing fastest.
Loans extended in Australia rose 6.5% in January
Business loans rose the fastest compared to the same month in 2024.
Visa and CIMB PH to deliver banking services to Philippine SMEs
They will offer a new business debit card by Q3.
Hang Seng Bank welcomes HK budget initiatives
Meanwhile, HSBC’s CIO expects AI to benefit from the announced plans.
Thai banks told to use dynamic pricing
They are struggling because their pricing strategy is not transparent and too reactive.
Maybank’s net profit up 7.9% to $2.27b in FY2024
Full-year dividend is 61 sen per share.
Thai digital banks urged to rethink playbook
They should acquire customers from the get-go with profit in mind.
Fubon Bank to benefit from UOB’s China retail banking exit: S&P
Fubon has the economies of scale to get more traction out of the business.
Alipay enables Amex card linking to pay in China
Alipay now enables 7 international card brands to pay in China.
StanChart adopts ICC principles for sustainable trade finance
The principles include a standardised approach to assess how proceeds were used.
RCBC transforms mobile phones to payment terminals for MSMEs
Merchants will be able to accept Mastercard and Visa card payments.
Singapore marks completion of transition to SORA
Over 87,000 retail loans were transitioned to the new benchmark rate.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Bank of America appoints Phil Carmalt as head of APAC GPS 4. HSBC Singapore unveils wealth centre at The Star Vista mall 5. Citi names Goldman Sachs banker as head of markets solutions in Asia South & NorthResource Center
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Cards & Payments
Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
Commentary
The Asian connection: China's path to sustainable growth