Frances Gagua
Citi raises record $40b sustainable financing for APAC clients in 2021 YTD
Citi raises record $40b sustainable financing for APAC clients in 2021 YTD
This was thanks to Alibaba’s $5b offerings and a $2.5 bond issuance by SK hynix.
China offers banks cheap funding for lending to green firms
The central bank is willing to lend 60% of the required funds at a 1.75% rate.
Singapore: Yes to wholesale, skeptical on retail digital fiat money
SG’s regulator remains iffy on cryptocurrencies—or, in MD Menon’s words, crypto tokens.
HSBC ahead of China wealth hiring targets, mulls re-entering India private banking
By end-2021, HSBC will have 64 working in its China onshore private banking.
Singapore banks, SGTraDex to develop standards for green trade finance digitalisation
UOB, DBS, OCBC, and Standard Chartered are participating in the initiative.
MAS, BSP ink enhanced fintech cooperative agreement
Singapore and Philippines' remittance flows totalled S$2.89b last year.
Regulation, late digitisation challenge Web 3.0 adoption in wholesale banking
Web 3.0 is taking over, but many businesses have yet to move past Web 1.5.
UOB TMRW rolls out feature measuring ASEAN customers’ carbon footprint
It will be generated based on their spending and saving habits.
Mastercard launches cryptocurrency-linked payment cards
Users will be able to convert crypto into traditional fiat money.
Singapore to invest S$180m for AI research
Heng kicked off the SFF 2021 and announced two new national AI programmes.
HKSTP unveils R&D environment for testing fintech innovations
Banks and tech firms can use Fintech Virtual Lab to build and test innovations.
DBS’ net profits jump 31% to $1.7b in Q3
The non-performing loans rate remained unchanged at 1.5% during the quarter.
OCBC allows real-time digital purchase of gold, silver
Over $1m and 3,698oz of precious metals have been purchased through the app.
OCBC’s net profits up 19% to S$1.22b in Q3
Net trade income plunged 67%, slightly offset by stronger net fees and commissions.
Hong Kong mulls launching own digital currency: financial secretary
This is part of HKMA's initiative to 'push all banks to go fintech'.
Singapore’s SMBs adapt as more consumers seek contactless payments
Nearly four in five Singaporeans expect to use contactless payments, the highest in the world.
DBS rolls out one-stop sustainability-focused platform
The bank will also launch an autonomous carbon calculator service under LiveBetter.
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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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Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
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The Asian connection: China's path to sustainable growth