News

There is an estimated 1% impact to FY18 earnings.

The power vacuum adds to a growing list of woes plaguing the sector.

There was an uptick in mortgage loans overdue for more than 90 days.

The country’s financial resilience is also frail due to low-income levels.

Lenders may soon shun less stable short-term funding sources amidst clearer guidelines.

Three of the country’s Big 4 lenders are already live on the payments initiative.

And here’s why the British government sold 7.7% stake in Royal Bank of Scotland. From Reuters: Wells Fargo & Co is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country. Flagstar Bancorp Inc would acquire 52 Wells Fargo branches in Indiana, Michigan, Ohio and Wisconsin for an undisclosed amount.

Industry loan growth clocked in at 4.8% YoY in April.

Lenders are running out of options to combat the ultra-low interest rate environment.

The government-encouraged pivot comes at a risk of low returns for the lenders.

Credit costs rose from 2.5% to 4.3% of loans on average at state banks.

Bank of Communications is investing $1.25b for such unit in Shanghai.

Foreign funds Oaktree and Varde Partners are hoping to cash in on the trend.

The city is hosting the back-to-back flotations of Xiaomi and China Tower.

Loans to wholesale and retail trade rose 22.7% to $19.43b.

More than 90 delegates from Thailand's major banks graced the event.