News

ATM withdrawals are surging as the country still reels from the 2016 demonetisation.

JCB Co. is testing its contactless payment solution using fingerprint authentication.

Reserve requirement ratio for big commercial banks will be lowered from 17% to 16%.

CCB and AIA collaborated to offer blockchain-powered bancassurance products.

And it's the start of a good year for BofA as profits rose 34% in Q1.

Approximately 55-80% of customers are considering opening an account in a digital-only bank.

The region has attracted more fintech investments than North America and Europe.

It helps that digital banking penetration in the lion city is high at 97%. Nearly 8 in 10 banking customers in Singapore admitted that they would consider opening an account with a branchless, digital-only banks, according to a report from management consultancy firm McKinsey. Of this number, Singaporeans are willing to migrate more than a third or approximately 35% of the assets in their accounts to a digital wallet.

Aggregate NPL ratio of local banking groups rose from 0.4% to 1.6% in 2017.

Foreign investors are rushing into the country to purchase its NPLs.

Manufacturing loans, which accounts for a lion's share of credit, is expected to register sluggish growth.

Over 50 senior bank managers have been reportedly demerited.

The recovery loan on defaulted loans in the country are at a dismal 26%.

This may help Beijing curb growing shadow banking activity.

This marks the lowest level since the global financial crisis struck.

The assets of top Chinese onshore private banks grew 25.5% whilst Asia rose by a mere 7.4% in 2013-2017.