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SCB X profits weighed by high credit costs, weakening asset quality
SCB X profits weighed by high credit costs, weakening asset quality
The bank will benefit from the interest rate hike, but peak by Q4 and gradually decline after.
Bank of East Asia’s Mongkok Branch to operate on weekends
It will be open from 1PM to 5PM on Saturdays and Sundays until 31 December.
KBANK net profit up 7% in Q3, but low dividends raise concerns: analysts
A substantial growth in net income helped drive up profits for the quarter.
DBS unveils financing solution to boost SMEs’ sustainability ventures
The DBS Eco Renovate Loan allows SMEs to finance up to 100% of their expenses related to sustainability.
UnionBank releases four new credit cards with various benefits
Interested users can choose from retail, cost-saving, travel, and luxury types of credit cards.
Japan’s Nomura mulls dropping China securities joint venture: report
The JV $30.75m in 2022, and $11m in 2021.
Payments fintech YouTrip raises US$50m in Series B round
The firm is gearing up to expand in Indonesia, Malaysia, the Philippines, and Vietnam.
UOB’s net profit up 5% to S$1.5b in Q3
Net fee income growth helped drive profits.
Singapore proposes shared responsibility framework for phishing scams
Both financial institutions and telcos are held accountable for mitigating scams.
75% of Singapore SMEs mull ditching banks for payment needs
1 in 2 of SMEs in Singapore complained of lengthy processing and settlement times.
Commonwealth Bank of Australia exploring GenAI use to test products
They are exploring the creation of GenAI chatbots that emulate human behaviors.
Schroders SG, KBank launch China Private Equity Fund in Thailand
The fund offers investors access to China’s RMB private equity market.
MAS proposes fund management regulation shake-up with new framework
If approved, the existing RFMC regime will be repealed.
OCBC rolls out generative AI chatbot for employees, amongst world’s first
Over 4 million decisions in the bank are made by AI daily, OCBC shared.
Shanghai’s Fuiou Pay, Visa team up to offer cross-border funds collection, settlements
Customers can now access more than 30 currencies at competitive FX rates.
APRA notes declining deposit-taking branches, waits for senate inquiry to closures
Branch numbers have been declining by 37% since 2017.
How can financial institutions build customer loyalty in the modern era?
It’s no longer just about giving perks, but about offering experiences, industry leaders said.
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