Frances Gagua
Standard Chartered invests in financial tech platform United Fintech
Standard Chartered invests in financial tech platform United Fintech
The bank has been granted board observer rights and a rotational board seat.
DBS names Tan Su Shan as deputy CEO; will succeed Piyush Gupta in 2025
An internal evaluation by DBS found Tan the strongest of all candidates for CEO.
HKMA rules out new virtual banking licenses
Competition is keen in the market and enquiries have declined.
DBS’ net profit up 9% to S$5.76b in H1; Q2 dividend is 54 cents
Net profit rose 4% in Q2 as loans and deposits grew.
Krung Thai Bank likely to miss loan growth target for 2024: analyst
Government loan demand will rise but yield will be lower.
Fusion Bank unveils business loans with up to $5m financing
One loan is for businesses at least three years old.
Manufacturing, household spending weigh on KBank’s Q2 net profits
Net profit for the quarter is 6.18% lower than in Q1.
Metrobank’s net income up 9.6% in Q2
The bank reported higher gross revenue and expenses for the quarter.
Philippine Business Bank’s net income is $9.02m in Q2
The SME-focused bank announced a PHP0.64 EPS for Q2.
Mox Bank opens platform to crypto-related investing
Mox Invest users can access and invest in crypto ETFs.
Citi names Yeo Wenxian as wealth head for South Asia
Yeo will also take over as CEO of Citibank Singapore Limited.
Malaysia’s outstanding loans up 6% in June
Business loans lifted overall growth, whilst household growth was slower.
YouBiz unveils CNY remittance corridor
Chinese and Singapore businesses can make “swift and recurring” payments.
Norinchukin’s capital raising signals support, but high rates still a problem
Unrealised losses on bonds climbed higher in Q2.
Malaysia’s business loans slated for up to 7% growth in 2024
However, softer credit demand is seen from the household segment.
WeChat Pay Malaysia ceases e-wallet services
Payment services will cease on 1 September 2024.
Taiwan’s virtual banks tout corporate banking and FX to reach profitability
All 3 banks reported narrower losses in 2023.
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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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Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
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The Asian connection: China's path to sustainable growth