News

Singapore central bank, local police probing Wirecard's operations

The regulator is also working with foreign agencies for cross-border transactions.

Indonesian banks to reflect COVID's fatal impact on Q2 results: Fitch

But the loosening of loan restructuring rules should help alleviate negative effects.

Taiwanese financial institutions' loans hike 0.67% at end-May

Annual growth rate rose to 5.71% due to reduced bank claims.

South Korean banks to begin implementing Basel III by end-June

Kwangju Bank and JB will be the first to make the shift.

South Korean regulator amends credit act to combat illegal lending

The maximum penalty for unlawful loan service providers has been doubled.

Thailand permits non-bank firms to provide foreign e-money

An operator must have a minimum registered paid-up capital of $3m (THB100m).

Singapore sets out expectations for FIs' environmental risk management

FIs are expected to include environmental considerations in their business plans.

Philippine central bank slashes policy rate again by 50bp

It has already reduced the rate by a total of 125bp.

Chinese bank-owned finance leasing firms fall back on parent support: S&P

But prolonged travel restrictions could lessen parent groups’ commitment.

QR codes, ISO 20022 fuel SEA's cross-border payments growth

It has pushed stakeholders to build a pan-regional real-time payments ecosystem.

China's order may endanger banks' long-term profit outlook

The State Council’s unclear directive could have bigger implications.

Thai banks see support in regulator's dividend restrictions: Fitch

This will help them maintain necessary resources to support lending activity.

Philippine banking system faces $13.8b in impairment losses

A severe stress scenario in the weak real estate sector will drive up NPL ratios.

Siam Commercial Bank launches trade package for SMEs

The bank has allotted nearly $129.7m in loans for SMES in the export sector.