Frances Gagua
South Korea mulls cashbacks for credit card spending to boost consumption
South Korea mulls cashbacks for credit card spending to boost consumption
The government reportedly plans to set the ceiling of cash back rewards per person.
Local bond market’s problems heighten Chinese banks' credit risks
The bond market’s repayment woes may force banks to make concessions for the sake of financial stability.
Chart of the Week: Japan’s credit card payments to grow 9.2% in 2021
Easing of restrictions, government support, and the Olympics will support growth.
HSBC unveils new online trading platform for private bank clients in Asia
Clients can buy and sell securities in 10 markets worth up to US$10m daily.
HSBC aims to be Asia’s top wealth manager in five years: report
HSBC’s Trista Sun expects 500 million middle class Chinese by 2025.
OCBC appoints Lim Khiang Tong as new Group Chief Operating Officer
He will lead the bank’s use of technology, data, and design to develop financial solutions.
Baiduri Bank’s margins likely tepid in 2021, but with profits satisfactory: S&P
The bank is expected to see moderate credit growth and satisfactory profits.
Philippines’ Security Bank celebrates 70th year anniversary
The bank has launched the “Better Banking” brand campaign to complement this.
Standard Chartered unveils supply chain tool for monitoring sustainability, resilience
Companies will be able to do a health check of their operations.
Growing exodus of junior bankers poses talent shortage for banks in Asia: report
Even raises of up to 30% has failed to stop junior investment bankers from leaving.
UOB renames YOLO credit card to UOB EVOL card
Targeting Gen Z customers, the card offers 8% cashback on online purchases.
Citi APAC appoints former EY partner to head Spring by Citi
Lloyd will be responsible for leading the bank’s newest TTS digital payment solution.
Singapore's MAS reprimands AIA FA, Prudential, Aviva FA & CEO for breach of rules
They failed to properly monitor individuals onboarded as advisors, directors.
Bank of Singapore appoints Paul Chua as global head of wealth planning
Chua spent 18 years with UBS Wealth Management prior to his new role.
Chart of the Week: South Korean card payments to grow 4.9% through 2024
Average frequency of use is 136.2 times in 2020, higher than in France, US, and UK.
Public Bank reassures COVID-hit loan customers it will continue to offer support
The bank has assisted over 160,000 customers affected by the pandemic.
Taiwanese bills finance companies to be unaffected by recent COVID surge: Fitch
The country’s economic resilience has eased BFCs’ operational pressures.
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1. Franklin Templeton gets approval to launch first retail tokenised fund in Singapore 2. UOB maintains profitability despite possible slower loan growth 3. Vietnam’s finance sector faces digitalisation challenges despite eased regulation 4. Japan’s SMBC is buying a 20% stake in India’s Yes Bank 5. GXS Bank names Pei-Si Lai as group CEOResource Center
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