Frances Gagua
UOB buys Citi’s retail businesses in 4 SEA markets for US$3.65b
UOB buys Citi’s retail businesses in 4 SEA markets for US$3.65b
UOB is paying for the net asset value plus a premium of US$690m.
South Korean banks' lending fell in December
This marked the first on-month decline for a month of December since 2004.
Fintech platform Airwallex officially launches in Singapore
Customers of the fintech platform will receive funds locally in SGD.
Relaxed monetary policies impart little boost on new lending in China
Banks remain cautious over credit quality–and further cuts will do little to change their minds.
Philippine banks’ bad loans total $9.41b in November 2021
The figure is a slight improvement from October’s gross NPLs.
Mastercard appoints Safdar Khan as division president for SEA
He is responsible for implementing the multi-rail digital payments agenda in 10 SEA markets.
Why Siam Commercial Bank is transforming itself into a fintech group
With its reorganisation, the group plans to expand to a customer base of 200 million.
Mizuho Asia & Oceania appoints new co-head of global transaction banking
Ashutosh Kumar joins from Standard Chartered Bank.
Mizuho reports disruption in corporate online banking services
This comes almost a year after Mizuho suffered system failure in early 2021.
DBS named APAC’s top green, sustainability-linked mandated lead arranger 2021
The bank extended $4.86b in green syndicated and club loans across 40 deals.
UnionBank to buy Citi’s Philippine consumer banking franchise for $908m
Around 1,750 Citi employees are expected to transfer to UnionBank.
Taipei Fubon Bank to build new wealth management platform
The new platform will be launched in Hong Kong and Singapore before its Taiwan roll-out.
Citi Vietnam appoints new country officer
Ramachandran A.S. will oversee Citi’s operations and serve as main regulatory representative.
Hong Kong’s livi bank doubles customer base to 200,000 by end-2021
Its buy now, pay later service has received over 60,000 applications.
Happy holidays, one and all!
Asian Banking & Finance will be back on 10 January 2022.
India’s card payments market to grow 31.2% in 2022
Growing adoption of electronic payments will help push up the card market.
Banks will lean further on tech to tackle 2022 security challenges
Covid-19 has driven large-scale growth in online banking, dramatically increasing the volume of sensitive customer data that’s available to steal.
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
