Frances Gagua
BNP Paribas in talks with China’s AgBank to form wealth JV: report
BNP Paribas in talks with China’s AgBank to form wealth JV: report
A source said that BNP Paribas will hold a majority stake in the planned venture.
Singapore joins multi-central-bank project to test CBDC use for international settlements
The BIS Innovation Hub’s Singapore centre will lead the project.
Australia mulls requiring banks to offer lower-cost debit payment systems: report
Federal treasurer Josh Frydenberg has written to regulators to allow businesses to choose cheaper domestic systems.
CIMB Philippines launch revolving credit product REVI Credit
It can grant as high as a $5,000 credit line to customers.
Expect failures amongst Hong Kong’s virtual-only banks: S&P
Digital lenders are currently at a loss-making and some may fold over the next few years.
Bank of China’s diverse portfolio to weather default storm over next two years
BOC’s non-performing asset ratio is expected to steadily decline in the next 24 months.
China makes biggest cash injection in banking system since February: report
The PBOC has injected a net CN¥120b into the system for this week.
More mergers of small Australian banks imminent: analysts
Two mergers were announced in August alone, and as regulatory costs remain high, more might seek to consolidate.
South Korean regulator nominee reject cryptocurrency as financial asset: report
Koh also reiterated his commitment to curb increases in household debt.
Ping An Bank profits up 45% in Q2, but NIM contraction to continue
Whilst fee income and loan growth is robust, capital position weakened.
Hong Kong’s ZA Bank hits 400,000 users
This is equal to 5% of the city’s total population.
Chart of the Week: Australia card payments value to rebound 8.3% in 2021
The rising use of contactless and e-commerce payments will support the growth of the segment.
SMEs mull switch to fintechs, digital banks as main finance service provider
More than one in three APAC SMEs consider switching to fintech.
Deutsche Bank Wealth Management appoints new SEA investment team head
Alania Conception is previously head of investment consulting for Credit Suisse Singapore and Malaysia.
UOB adopts the Equator Principles to refine sustainability strategy
The bank will apply the principles to assess and manage environmental and social risk projects.
Deutsche Bank names APAC head of wealth solutions
Dominique Jooris was CEO of Bank Pictet & Sie in Singapore prior to his new role.
Philippine lender SB Finance teams up with FinScore to enhance credit scoring power
SB Finance said it will use FinScore’s solution to predict the creditworthiness of borrowers.
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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