Frances Gagua
Alliance Bank lowers fixed deposit rates
Alliance Bank lowers fixed deposit rates
The counter rate for 1-month fixed deposits is now just 2.65% from 2.75%.
Weekly Global News Wrap: ECB raises concerns over UniCredit’s high turnover; China warns banks against “one-sided” credit pursuit
And two JP Morgan & Chase top dealmakers are reportedly leaving the bank.
Hong Kong launches new credit reference operating model
Credit Data Smart will guide the collection of credit as future reference to loan providers.
Ant International to build Malaysia digital business centre and is hiring 500 roles
The centre is expected to move in at The Exchange 106 by 2025.
Chart of the Week: Indonesia’s card payments market to be worth $71.8b by end-2024
But point-of-sales terminal penetration remains low.
Thailand’s Krungthai Bank temporarily closes two branches
They will resume normal operations on 22 April.
DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Taiwan’s Hua Nan’s asset quality to remain sound through 2025
Loans to SMEs and the property sector have improved, says Moody’s.
Property malaise weighs on China and Korean banks
Most of APAC banks have a stable outlook for 2024, says S&P.
India floats regulations for non-bank POS payment aggregators
They are required to apply authorisation from the RBI by May 2025.
Robust employment, stable housing market anchors CUB’s profits
But net interest margin will likely stay flat or contract mildly.
Why tokenization and funding are two key issues for financial disruptors in 2024
HSBC's Vincent Lau a lineup of 250 speakers to discuss these at Money 20/20 Asia.
Techcombank’s Prasenji Chakravarti lays bare their ESG strategy
The bank is transforming its IT infrastructure to better process green data.
ING names ex-BofA Merril Lynch banker as APAC corporate finance head
Gautam Saxena also founded the venture capital fund Pegasus 7 Ventures.
Endowus launches full-service digital wealth platform in Hong Kong
It is also launching its flagship portfolios in May 2024.
CIMB’s Dato’ Abdul Rahman Ahmad to step down as group CEO
CIMB has not named a successor yet.
Rising rates lift profitability of Japan’s 77 Bank
The same rising rates will increase the bank’s unrealized losses on its domestic bonds.
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1. DBS first to accept CPF LIFE payouts for credit card applications 2. OCBC’s revised Great Eastern bid seen having limited financial impact: RHB 3. How Danantara’s plan to acquire BRIS will impact four Indonesian banks 4. SG digital banks expand into investments and loans to boost profits 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.
