Frances Gagua
DBS’ 2024 net profit up 11%; plans quarterly capital return dividend
DBS’ 2024 net profit up 11%; plans quarterly capital return dividend
DBS will also set aside S$32m for a one-time bonus of S$1,000 to all staff.
Xtransfer ink MOU to offer cross-border financial services to African SMEs
Xtransfer will make use of Ecobank Group’s network in the continent.
Netbank partners with Jia Financing to offer SME loans
Jia will assign their invoice financing loans to Netbank.
Bank Negara Indonesia profitability to hover at 1.8% to 1.9% in 2025
Credit costs are expected to remain modest at the current 1.3% level.
Ant International names Jiang-Ming Yang as chief innovation officer
Yang led development of A+ Rewards, CoPilot, and EasySafePay for Antom.
Singapore named 9th best city for fintech startups globally
Bangalore ranked 5th and New Delhi was 10th globally.
India’s scheduled commercial banks’ profits up 12.5% in Q3 FY2025
Operating expenses, treasury gains, and fee income all rose.
HSBC cuts Philips’ currency transactions in China
‘Netting’ cut Philips’ cross-border transactions from 4,000 yearly to just one a month.
Five M&A themes in the banking sector in 2025
Smaller banks may seek M&As to solve or mitigate compliance costs.
Weixin Pay users flock to Hong Kong, Japan for Spring Festival holiday
The use of promotions or “mini programs” doubled in Japan.
ZA Bank partners with TransUnion to offer credit alert service for free
It notifies of new credit accounts opened under their name, amongst others.
Kasikornbank headed for year of portfolio clean-up
UOB Kay Hian “surprised” regarding the Thai bank’s flat loan growth target.
Mizuho’s profits tripled in 9M FY2024
Consolidated gross profits rose 288.9% thanks to the rate hike and NII growth.
Sumitomo Mitsui Financial Group’s profits up 43.3% in 9M FY2024
Earnings per share (diluted) is JPY289.92.
Malaysia’s private non-financial sector loans up 5.2% in Dec 2024
Business loan growth moderated although SME loan growth was “sustained.”
Asia’s fintech transactions to reach $19t by 2025: UnaFinancial
Asian fintech transactions reached $16.8t in 2024, according to the report.
Financial fragmentation threatens bank profits and lending
Globally, it can lead to nearly 280 million fewer jobs by 2030.
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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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The Asian connection: China's path to sustainable growth