Frances Gagua

Approximately 2,300 employees will be affected, according to the bank.

SCBX said that Bitkub needs time to fix its issues with the local regulator.

Fee-based income rose, but group braces for expected credit losses.

The loan has a one year tenor.

There is no denying the recent volatility of the real estate market. During the pandemic, US lenders saw record numbers of mortgage applications driven by the low cost of borrowing, while record-low interest rates fuelled a rise in housing prices across Asia-Pacific. Now, in mid-2022, rising interest rates are cooling real estate markets as consumers rush to refinance into the best deal they can find for their mortgage. Regardless of the ebbs and flows of the markets, lenders are sharpening their tools as competition increases. The mortgage industry has been adopting technology to streamline the process of getting a loan, with the goal of making the consumer experience smoother and faster. 

Thanks to the pandemic, the uncertainty of the world economy has been especially devastating  for those living on the poverty threshold and struggling to make ends meet. Many in this  demographic lost much-needed jobs as the economy shrunk, while others hustled on the side, for  example, as food sellers, to continue to put bread on the table. 

But local asset management companies may face pressure to acquire bad debt at prices that make it challenging to earn a commercial return.

Financial institutions were attacked triple the average global every week.

This is despite MAS moving to tighten retail investors’ access to crypto.

The features will be rolled out to clients outside of Singapore, Hong Kong at a later stage. 

Property woes in Hong Kong and Mainland China doubled the bank’s credit impairment losses.

About 4.5% of those surveyed have been victims of identity theft.

It will use the money to extend more loans to SMEs in Southeast Asia.

The four biggest banks’ NIMs climbed to levels higher than pre-COVID.

The number of BTC and ETH bought also rose by over 50%.

It is the first bank in Malaysia to do so.