Frances Gagua
Singapore lifts dividend cap on local banks, financial companies
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
Chart of the Week: Hong Kong’s wealth market to grow 7.8% in 2021
The number of HNWIs is expected to reach 3.9 million in 2021 or 60.6% of the population.
Hong Kong lenders gear up sustainability initiatives as post-pandemic era dawns
The total combined headcount across 18 banks in the city is down 2,000 from just 12 months ago.
Open banking in APAC: leveraging data, API for better solutions
Banks have to remain consistent and continuous in testing best practices.
South Korea’s Kakao Bank to raise over $2.2b in IPO
Shares were priced at the top end, at KRW39,000 ($34).
Higher adoption of QR payments ramps up Singapore’s cashless transition
In January, 1.2 million transactions were carried out via the SGQR.
India mulls phased roll out of central bank digital currencies: report
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
Virtual banking trumps branch banking in Southeast Asia: study
But less than half of consumers are impressed with the digital financial services currently offered.
Citi rolls out real time liquidity sharing solution in APAC
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
OCBC enables Singaporeans to directly view, pay tax in digital bank platform
Customers have the option to pay their tax balances in full or partially.
Citi Commercial Bank enables digital account opening in Hong Kong, Singapore
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionBank clinches Philippines’ 4th digital bank license
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
Digitalisation creeping into non-tech roles as Singapore banks accelerate hiring
The sector will continue in a “reform and transform” path, hinging on successful digital banking applicants.
Japanese corporates’ loan demand shrunk in April-June: survey
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
India’s private banks to widen gap with state peers when economy rcovers: report
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
Banks must leverage APIs to stay ahead amidst the open revolution: Deloitte
It opens up new revenue models and lowers the cost-to-serve.
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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