News
J.P. Morgan appoints leaders for APAC commercial banking
J.P. Morgan appoints leaders for APAC commercial banking
These appointments will take effect on 1 August.
UnionPay inks deal with Cambodia to promote QR cross-border payments
It aims to benefit residents of both countries in cross-border mobile payments.
OCBC, Ascenda to offer more transfer options for rewards currencies
It is now available to OCBC customers holding Travel$, Voyage Miles and OCBC$ rewards balances.
Major Korean banks asked to prepare $4b to buoy distressed credit cooperative: report
The credit cooperative saw customers withdraw funds last week after reports of a rise in bad loans.
Citi Commercial Bank unveils CitiDirect Commercial Banking platform
It will be available to customers in Hong Kong, Singapore, and India in H2 2023.
DBS sells 77.8% stake in AXS to Tower Capital Asia
AXS became a subsidiary of the bank in 2006.
India’s HDFC to offer 2% shares in NSDL IPO
This is equivalent to four million equity shares.
Sri Lanka’s NBFIs safe from risks after proposed gov’t debt restructuring plan
The plan does not directly impact the government debt holdings that NBFIs have stocked up on.
DBS upskills sustainable financing knowledge of 1,600 relationship managers
The bank will incorporate the workshops as part of its training curriculum for incoming RMs.
Korea allows formation of new nationwide bank for first time in 30 years
FSC plans to issue new banking licenses to bolster competition.
Weekly Global News Wrap: Rothschild & Co takes one step closer to going private; Ant Group may be fined $1b
And UBS makes changes in global wealth management business.
Business grads from HK pick J.P. Morgan and HSBC as most attractive employers
Students prefer companies with a “friendly working environment."
UnionDigital Bank bags $16m more in capital
It will be utilised to grow its digital loan offerings.
Chart of the Week: 8 in 10 Chinese consumers use mobile wallets
High cost of POS terminals and insufficient payment infrastructure push e-wallet use.
New Zealand picks Citi in banking services panel
Other new panel members are ANZ Bank and Westpac.
Finmo obtains in-principle approval for MPI license from MAS
This lets Finmo’s customers receive funds in Singaporean dollars.
1 in 3 Singaporeans switched banks, insurers in 2022: study
Only 21% of respondents, however, fully trust AI chatbots in financial services.
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