Frances Gagua
Citi unveils help desk to help Chinese emerging companies expand in Singapore
Citi unveils help desk to help Chinese emerging companies expand in Singapore
Clients will be able to access advice about local operating and regulatory environments, amongst others.
Binance to cease select Singapore services
It will be removing its app from the Singapore iOS and Google Play Store.
Citi boosts Asia ECM team with new hires
A couple of former JP Morgan bankers are joining the global bank’s ECM crew in Asia.
CIMB Niaga, JCB launch contactless credit card In Indonesia
Transactions below $70 (IDR1m) do not require customers to enter a pin.
BNP Paribas in talks with China’s AgBank to form wealth JV: report
A source said that BNP Paribas will hold a majority stake in the planned venture.
Singapore joins multi-central-bank project to test CBDC use for international settlements
The BIS Innovation Hub’s Singapore centre will lead the project.
Australia mulls requiring banks to offer lower-cost debit payment systems: report
Federal treasurer Josh Frydenberg has written to regulators to allow businesses to choose cheaper domestic systems.
CIMB Philippines launch revolving credit product REVI Credit
It can grant as high as a $5,000 credit line to customers.
Expect failures amongst Hong Kong’s virtual-only banks: S&P
Digital lenders are currently at a loss-making and some may fold over the next few years.
Bank of China’s diverse portfolio to weather default storm over next two years
BOC’s non-performing asset ratio is expected to steadily decline in the next 24 months.
China makes biggest cash injection in banking system since February: report
The PBOC has injected a net CN¥120b into the system for this week.
More mergers of small Australian banks imminent: analysts
Two mergers were announced in August alone, and as regulatory costs remain high, more might seek to consolidate.
South Korean regulator nominee reject cryptocurrency as financial asset: report
Koh also reiterated his commitment to curb increases in household debt.
Ping An Bank profits up 45% in Q2, but NIM contraction to continue
Whilst fee income and loan growth is robust, capital position weakened.
Hong Kong’s ZA Bank hits 400,000 users
This is equal to 5% of the city’s total population.
Chart of the Week: Australia card payments value to rebound 8.3% in 2021
The rising use of contactless and e-commerce payments will support the growth of the segment.
SMEs mull switch to fintechs, digital banks as main finance service provider
More than one in three APAC SMEs consider switching to fintech.
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