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Weekly Global News Wrap: Credit Suisse China beset with senior staff exodus; Israel’s Bank Hapoalim optimistic with interest rate rise
And Tencent’s NFT platform to stop selling new NFTs.
Recovering business activity props up Thai banks’ revenues
Credit costs will remain elevated in the long-term, however.
Malaysia’s card payment market value to grow 15.2% in 2022
A perfect storm for card adoption is brewing in the country.
China’s new bank loans plummet in July amidst COVID fare-ups, property jitters
Analyst warned that new lending may continue to disappoint in the near term.
Property woes, unemployment threaten structure letting Chinese banks offload bad loans
NPL securitisations allows banks to sell NPLs to a vehicle.
Dah Sing Bank temporarily closes its Maritime Square Branch
It will reopen in 13 August.
Grab unveils US$1m GrabScholar programme, new GrabMerchant Centre
The superapp aims to support small businesses and upskill the future workforce.
BOC HK, BOC Life launch green savings insurance plan
It offers up to a 3% annualised guaranteed rate of return at policy maturity.
Atome Financial secures US$100m debt facility with HSBC Singapore
It operates buy now pay later platform Atome and Indonesia’s Kredit Pintar.
Asset quality of South Korea’s big banks to remain supported as interest rate rise
But bad loans are expected to rise moderately.
India tightens rules for digital lending
Lenders may no longer increase credit limits without the consent of the borrower.
Maybank enables Singapore, Malaysia card users to link with ApplePay
This includes users of Mastercard and Visa credit, debit, and prepaid cards.
Dah Sing Bank temporarily closes Mei Foo Sun Chuen Branch
It will reopen on 11 August.
OCBC enables direct CPF account top-ups from digital app
This makes OCBC the first bank to enable this outside of the CPF website.
Dah Sing Bank temporarily shutters Shek Tong Tsui branch
Customers are advised to use mobile or internet banking services.
Indonesia’s fintech investments bucks global trend, hits record high in H1
Payment gateway Xendit raised $300m in its Series D funding to help push up the numbers.
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