Frances Gagua
DBS’ net profit up 9% to S$5.76b in H1; Q2 dividend is 54 cents
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.
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.
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1. DBS surpasses US$100b market cap 2. DBS first to accept CPF LIFE payouts for credit card applications 3. OCBC’s revised Great Eastern bid seen having limited financial impact: RHB 4. Deutsche Bank names corporate coverage head for MEA 5. Deutsche, Ant teams up to improve cross-border paymentsResource Center
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He highlights the importance of cultural context, workforce mobilisation, and data-driven strategies in financial sector innovation.
