News
Singapore banks post robust net profit results
All three major banks reported net profits of more than $2b for the first six months of 2021.
Singapore banks post robust net profit results
All three major banks reported net profits of more than $2b for the first six months of 2021.
Weekly Global News Wrap: HSBC’s US investment arm raises new analysts’ pay to $100,000; Citi, HSBC, other firms move to close Asia’s coal-fired plants
And JPMorgan’s new healthcare unit invests $50m in Vera Whole Health.
DBS profit up 54% to record S$3.71b in H1, 33 cents DPS announced
Fee income rose to a record as wealth fees hit new heights.
Myanmar limits foreign staff allowed in domestic banks: report
Major banks can now employ no more than 25 foreign staff.
Hong Kong’s Airstar Bank launches pilot trial of SME Easy Pay Loan
After transferring their existing installment loan, customers can enjoy a first 24-month principal payment holiday.
BNPL continues to gain traction with Square’s $29b acquisition of Afterpay
Afterpay accounts for 7.7% of Australia’s e-commerce market.
What keeps young Muslims from embracing Islamic banking?
The lack of available online banking options will be a dealbreaker for most.
OCBC net profit soars by 86% to $2.6b in first half
The net profit growth was driven by a robust banking and insurance performance.
UOB net profit up 29% to $2b in first half of 2021
Its wholesale banking revenue was driven by large corporate and institutional clients from Singapore and Greater China.
SG bank loans expand by a record-breaking 3.5% in June
This is the fastest rate of expansion since October 2018.
Hong Leong Bank, Mastercard launch debit card in Cambodia
Until October, 1% of each transaction made using the card will be donated to Kantha Bopha Children's Hospital.
Citi opens new office at Busan International Finance Center
It’s meant to further support its securities services operations in Busan.
Citi Global Wealth APAC sees $15b net new money inflow in H1
About $8b were added in Q2.
Get to know the winners of the Asian Banking & Finance Wholesale and Retail Banking Awards 2021
Over 140 banks were awarded in this year’s programme.
MAS, BIS publish proposal on global retail payments network connectivity
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
Singapore lifts dividend cap on local banks, financial companies
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
Chart of the Week: Hong Kong’s wealth market to grow 7.8% in 2021
The number of HNWIs is expected to reach 3.9 million in 2021 or 60.6% of the population.
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