Frances Gagua
Philippine Business Bank’s net income is $9.02m in Q2
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.
Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
And Wells Fargo is under investigation over issues in its AML programs.
Thailand postpones card repayment rate hike amidst borrower struggles: report
The central bank will continue to promote consolidation of home and retail debt.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
Higher interest and fees lift Japan’s SMFG to record profit for Q1
Net interest income is expected to rise by a further JPY100b.
Hong Kong banks expand fraud alert system to retail transactions
Customers will receive alerts for “high fraud risk” fund transfers, amongst others.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
Malaysia's bid for BRICS membership to spur banking overhaul
However, challenges abound when moving away from U.S. and SWIFT reliance.
BofA names Winnie Chen as head of APAC global payments solutions
Chen will begin her duties in September 2024.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. HSBC Singapore unveils wealth centre at The Star Vista mall 4. Citi names Goldman Sachs banker as head of markets solutions in Asia South & North 5. The Asian connection: China's path to sustainable growthResource Center
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The Asian connection: China's path to sustainable growth