News

Here's proof that Japanese bank stocks outpaced global peers in 2013
9 Jan 14
Thanks to Abe's reflationary policies.
Weekly Global News Wrap: US banks deploy AI monitoring despite concerns; Big Eurozone banks underreporting risky assets
20 Apr 21
And British digital bank Starling raises $69m from Goldman Sachs funding arm.
India's new digital payment licenses to increase competition, innovation
20 Apr 21
The NUE licensing has attracted the likes of Google, Amazon, and Facebook.
Citi to exit consumer banking in 10 Asian markets, doubles down on wealth
20 Apr 21
Consumer bank presence in Singapore, Hong Kong, UAE, and London unaffected.
Malaysian banks' profits to recover faster than SEA peers: Moody's
15 Apr 21
Compared to regional peers, Malaysia’s biggest lenders have the smallest share of loans under relief programs.
Citi launches digital credit card for new customers
13 Apr 21
Singapore is the first market ever where Citi has rolled out this service for new cardholders.
China's central bank urges banks to curb loan growth for rest of 2021: report
13 Apr 21
The surge in lending during the first two months of the year stoked bubble risks.
J.P. Morgan leverages blockchain solution to improve money transfers
13 Apr 21
Testing is currently under way with 12 Taiwan banks.
ABF Wholesale Banking, ABF Retail Banking and ABF Corporate & Investment Banking Awards 2021 now open for nominations
10 Apr 21
Be a part of the prestigious celebration on 1 July.
South Korea's internet banking transactions up 20.6% in 2020
7 Apr 21
Daily, there were than 13 million online banking transactions in the country last year.
Singaporeans more satisfied with e-wallets than banks in 2020
6 Apr 21
Customer satisfaction for e-wallets was higher than that of banks.
Citi appoints Kartik Mani as the Head of Consumer Banking in Asia
6 Apr 21
He replaces Gonzalo Luchetti, who is the new head of consumer banking in the US.
Japan's financial firms face activist climate votes as AGMs near
31 Mar 21
Mizuho was forced to vote on a climate-focused resolution in its AGM last year, but more firms are being targeted in 2021.
Mergers imminent amongst Japan's regional banks: study
31 Mar 21
Ultralow rates, competition will hurt profits to the point where revenue no longer covers operating expenses.
Clear skies ahead for Aussie banks as economy improves
31 Mar 21
Banks can withstand NPL growth due to loan loss reserves.
Tonik launches neobank in the Philippines
30 Mar 21
It offers up to 6% interest rate per annum.
HSBC Singapore names new global liquidity head
23 Mar 21
Winnie Yap will be responsible for treasury solutions for Singapore firms.
Weekly Global News Wrap: Morgan Stanley offers bitcoin to wealth clients; SLB market could hit $150b this year
23 Mar 21
And Barclays expands private banking unit to France and Italy.
Mizuho Bank halts leadership change following system glitches
23 Mar 21
The bank suffered four glitches in a span of two weeks.
Chart of the Week: Singapore card payments to rebound 10.2% in 2021
23 Mar 21
Card payments are expected to reach $96.5b in three years’ time.
DBS CEO Piyush Gupta's pay down 24% in 2020
16 Mar 21
His cash bonus dropped by 27% amidst cutbacks in the bank.
UOB to raise pay, floats promotions for 98% of bank's employees
16 Mar 21
Review of compensation packages for senior management will be considered later.
HSBC floats plan to phase out coal financing by 2040: report
16 Mar 21
The bank caved to investor pressure that called for the reduction of loans, underwriting services to fossil fuel companies.
'Buy now, pay later' flourishes in APAC as credit demand booms
16 Mar 21
Unlike credit cards or loans, there are no fees in BNPL if payments are made on time.
Philippine banks' credit weakness to persist throughout 2021
5 Mar 21
Non-performing assets ratio is expected to rise to 5.5%-6% by the end of the year.
Two digital banks in every APAC market to challenge incumbents: study
4 Mar 21
Need for new capabilities to push bank-fintech collaborations in the region.
E-wallets to overtake cash in Singapore's in-store payments by 2024
4 Mar 21
Cards will remain king, but e-wallets will overtake them in online purchases.
Mizuho Bank's latest system failure unveils control, operational risks: Moody's
3 Mar 21
Half of its ATMs in Japan shut down on 28 February despite a $3.7b system upgrade just two years ago.
Five of world's 10 largest banks are in China: report
3 Mar 21
The Industrial & Commercial Bank of China has almost $5t in total assets.
Chart of the Week: APAC card payments to grow 19.2% in 2021
2 Mar 21
Banks and payment firms are stepping up their card game to encourage cashless spending.
Bank accounts of suspected scammers can be frozen within a day: Singapore minister
2 Mar 21
Singapore Minister Desmond Tan lays out plans to prevent scams.
MAS unveils joint paper on managing remote working risks
2 Mar 21
Financial institutions are called to benchmark their practices against examples in the study.
Weekly Global News Wrap: EU banks to float 'green' indicator next year; Citigroup revises earnings after Revlon ruling
2 Mar 21
And Goldman Sachs reboots cryptocurrency desk following Bitcoin boost.
Chinese fintechs must meet capital requirements within two years: CBIRC
2 Mar 21
Regulators have set various grace periods for different platforms.
HDFC Bank says internet banking issues 'resolved'
2 Mar 21
Its repeated technical glitches pushed India’s central bank to take action.
Commerzbank mulls exit from Hong Kong, other Asian locations
1 Mar 21
Asia sales activities will be bundled in Singapore.
CIMB posts $293.5m net profit for FY2020
1 Mar 21
Higher loan provisions affected the bank's performance.
OCBC net profits down 26% to $3.59b in FY2020
25 Feb 21
CEO Samuel Tsien maintained a cautious outlook for the economy’s recovery.
Demand for Islamic banking set to soar in South Asia, SEA
25 Feb 21
The large untapped population in these regions and government support will drive long-term expansion.
UOB's net profits down 33% to $4.34b in FY2020
25 Feb 21
The group emphasized wealth and connectivity-related services as tenets for growth.

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