Frances Gagua
Malaysia, Cambodia launch cross-border QR payment linkage
The initiative’s first phase has concluded as of 19 September.
MUFG Bank fined $1.75m for info management lapses
Sister firm MUMSS was separately fined $1.4m.
Thai banks join forces with billionaires, fintechs for virtual bank bid
Shopee's parent company, and banks SCB X and Bangkok Bank are amongst the aspirants.
HDBank clinches $50m loan to fund climate projects, women-led firms
This brings HDBank’s total credit facility in Proparco to $100m.
Cambodia’s ACLEDA Bank to weather its covenant breaches: S&P
Funding is ‘strong’ thanks to its position as one of the country’s largest banks.
8 in 10 payment leaders eye tech overhaul, seek to reduce fraud
Leaders from Singapore and Australia name reducing fraud as a key objective.
Thai banks’ weak loan problem starts to bite: analyst
Provisions for expected credit losses now average 30%.
Hang Seng Bank reduces lending rate, deposit rates
Its prime lending rate and deposit rates are now 25 basis points lower.
MUFG names Yoshi Katsuda as Middle East regional head
Katsuda was most recently part of the GCIB Planning Division in Tokyo.
Natixis CIB appoints Saburo Koyama as head of aviation finance in Japan
He set up the Marubeni Corp’s first aircraft leasing arm, MD Aviation Capital.
ZA Bank cuts installment loan interest rate
Applicants get a cash reward of up to $188.6 until 30 September.
Taipei Fubon Commercial Bank to achieve good profitability through 2025
Low credit costs and non-interest income will lift profitability.
BEA lowers HK dollar savings rate, prime rate
The new rates come into effect on 20 September 2024.
Australia’s AT1 phase out proposal unlikely to be replicated by other regulators
It will wipe out the concentration of AT1 instruments held by domestic retail investors.
BRI’s UMi has disbursed $40.53b in loans to MSMEs
Three years after launch, UMi now serves 176 million depositors.
Siam Commercial Bank provides Android devices to Thai merchants for contactless payments
SoftPOS will give SCB 500 Android devices.
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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. Cambodia and Japan enable QR code payments between the two countriesResource Center
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Cards & Payments
Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
Commentary
The Asian connection: China's path to sustainable growth