Frances Gagua
India’s banks can withstand fallout from US bank failures, Credit Suisse sale
India’s banks can withstand fallout from US bank failures, Credit Suisse sale
The companies have manageable exposure to these banks.
OCBC opens Wuhan branch
OCBC Wing Hang Bank (China) now has 19 branches across 14 cities.
Hong Kong’s Fusion Bank launches business banking services for SMEs
Until 31 December, new customers may be exempt from account opening fees.
KBank sees 2 million new users in K PLUS app
The app recorded $292b (THB10t) in total transactions throughout 2022.
UNO Digital Bank offers account opening services to GCash users
GCash users can open a savings or time deposit account with no minimum balance needed.
Stable outlook for Australia’s Defence Bank: Moody’s
Asset quality pressures will remain contained.
Australia’s Alex Bank raising $20m
The bank’s lending strategy focuses on the consumer finance market.
Weekly Global News Wrap: Credit Suisse’s $17.2b of bonds written down to none; Credit Suisse says clients may want to move assets after merger
And Hong Kong pushes to become a virtual asset hub.
OCBC launches net zero loan for corporates
Companies get a reduced interest rate on their loans when they meet targets.
UBS buys Credit Suisse in “emergency rescue”
The $3.2b acquisition has the full support of Swiss financial regulators, UBS said.
Low risk of bank runs in Asia: analyst
Japanese banks are the most vulnerable and face flat NIM growth.
Indonesia’s Bank BTN names Nixon LP Napitupulu as CEO
They have also decided that 20% of net profits for 2022 will be used as dividends.
US banking fallout has little impact on APAC banks, but contagion risks linger
The evolving situation means that problems from secondary effects may rise in the near future.
MAS in “close contact” with Swiss regulators over Credit Suisse
Credit Suisse recently announced that it is borrowing up to CHF50b.
Corporate banks ramp up data analytics to boost customer acquisition
They also plan to use data and analytics to assess productivity of relationship managers.
How Asian banks can retain their cross-border dominance
The emergence of fintechs is whittling down their dominance.
Value of CBDC payments to reach $213b annually by 2030: study
Adoption will be driven by governments boosting financial inclusion.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
