News
Citi sells $3.6b China consumer wealth portfolio to HSBC
Citi sells $3.6b China consumer wealth portfolio to HSBC
The deal does not include the bank’s institutional business.
DBS net profit up 18%; 48 cents interim dividend announced
Citi Taiwan contributed S$10b in loans.
Visa launches updated security roadmap for Hong Kong
Amongst initiatives include reduction of SMS OTP reliance and adoption of tokenisation.
MAS and Bank Indonesia extend bilateral financial arrangement until 2024
The agreement between both central banks was extended to 2 November 2024.
IRDAI assembles taskforce for bancassurance
The share of banks as corporate agents was 5.93% of non-life insurance and 17.44% of new business premiums in 2022-23.
BOCHK net income up 20.8% to US$6.21b in 9M 2023
Net interest margin rose 36 basis points during the first nine months of 2023.
No changes to Hang Seng Bank’s HKD prime lending rate
Its HKD savings deposit rates also remain unchanged.
Bank of China Hong Kong keeps HKD prime rate, deposit rate steady
Savings accounts with over HK$1m will enjoy a 0.001% pa additional bonus rate.
Zurich acquires 51% stake in Kotak Mahindra Bank's general insurance arm
The insurer said it plans to buy 19% more in the future.
DBS apologises for digital bank disruptions, to dock senior management pay
The bank is allotting a special budget of S$80m to enhance its system resiliency.
HDFC Bank names new chief of internal vigilance
Sachin Suryakant Rane was a senior police inspector before joining the bank.
DBS prohibited from buying new businesses or closing branches for 6 months
MAS will review progress after six months and may choose to extend the measures.
Bank of China Hong Kong expanding e-HKD prepaid pilot to 50 products
It is now inviting customers to participate in the pilot.
1 in 2 Hongkongers hold ‘favorable’ views of virtual-only banks: study
45% have neobank accounts, and another 30% looks to sign-up over the next 3 months.
South Korean financial firms to tighten lending standards in Q4: survey
The 18 banks polled indicated that they will be pickier on approving loans.
BOCHK warns customers of two fraudulent websites
Customers who used these sites are strongly urged to contact BOCHK immediately.
Landbank records highest-ever nine-month net income at $558m
Net income jumped 24% during the period compared to a year ago.
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