Managers of Wealth Asia Pacific

UOB’s FY22 core net profit up 18% to a record S$4.8 billion underscored by strong margin expansion and resilient asset quality

Transformational Citigroup acquisition showing positive results.

DBS first Southeast Asian FI to be selected by China's central bank to boost green lending for sustainable development

Appointment enables DBS to offer low-cost loans to help accelerate decarbonisation in the world’s second-largest economy

Outlook grows cloudy for Singapore banks despite decade-high profit margins

Singapore banks, among the most well capitalised in the world, are also expected to report record full-year results, stoking market expectations of special dividends.

Hong Kong Banking Delegation to Middle East Unveiled

The most recent financial development was a signed agreement between Hong Kong and Saudi Arabia’s stock exchanges to explore new collaborative opportunities, including cross-listings.

New scam detection, prevention and education initiatives to keep more customers safe

CBA is the first Australian bank to provide account “NameCheck” on its digital banking platforms, as new “CallerCheck” feature is launched to verify it’s the bank calling a customer.

AMP Bank acquires Nano mortage book

The agreement also delivers on Nano’s strategy to focus on being a provider of technology to financial services companies rather than a home loan provider.

AMP announces impairments to be recognised in FY 22

The impairments will result in a reduction in AMP’s FY 22 statutory profit.

National Australia Bank mints stablecoin in blockchain push

Stablecoins are intended to hold a set value, for example $1, and come in a variety of forms.

How Retail Banks in China Can Elevate Digital Banking

Retail banks need to develop core capabilities to improve customer centricity and deliver more delightful digital experiences.

South Korea set for one more rate hike as risks mount

“The 25 basis point hike in January should be the last in the current rate-hike cycle,”

China Citic Bank offers Covid shots in HK to woo mainland cash

The programme has an “aim of providing cross-border customers a comprehensive array of wealth management services,” the lender said in a statement.

China Seems to be Warming Up to Bankers

The interview is short and clear, and readers can easily compare their reading of the tea leaves with that by finews.asia.

Japan megabanks to lean on M&A to grow presence in Asia despite recession risk

If the U.S. economy slows down more deeply, that would increase the risk of economic disturbance in Asian countries," Chizuru Tateno, a credit analyst at S&P Global Ratings Japan said.

New AMP Bank debit cards to feature Indigenous art and a sustainable design

The new AMP Bank debit cards are also eco-friendly, using more sustainable materials.

AIIB extends 250 million euro loan for metro project in Egypt

This project is aligned with AIIB’s corporate strategy, thematic priorities and mission to finance Infrastructure for Tomorrow and sets an excellent example of enhancing connectivity via green infrastructure financing in the transport sector

Bank frauds involving cards, internet, cash rise in six months

According to Reserve Bank of India (RBI) data, 2,331 fraud cases involving Rs 87 crore were reported by banking entities during the six-month period as against 1,532 frauds involving Rs 60 crore.

Akulaku Announces $200 Million Investment from MUFG

Company Plans for Continued Expansion Through Digital Transformation and Financial Inclusion

Singapore Banks Putting Money Into AI and Big Data

UOB sought to spend $500 million to scale digital offerings until 2026, on top of the average $535 million spent on technology yearly in the past four years.

Citi Winds Down Consumer Banking Unit in China

The announcement of its China wind-down marks the final outstanding APAC market for withdrawal, as per an April 2021 announcement to exit 14 consumer markets globally where the bank lacks the scale to compete.

Commonwealth Bank Wants to Close the Gap on Business Lending -- Interview

We think we are well positioned to close the gap on lending and we've made considerable gains over the last two years

Retail Banking