Managers of Wealth Asia Pacific

Maybank Posts Q1 Profit Growth

The full effects of rate cuts across key markets will show in 2Q income, with net interest margin expected to compress 15bps in the current rate environment, Maybank said in its outlook for 2020.

Maybank opens third Premier Wealth lounge at new branch

The relocation and expansion of the Toul Kork branch affirms Maybank’s assurance that there is no disruption to any of its services arising from the outbreak of COVID-19.

Count Financial makes growth-focused hire

"Chris's appointment will help us deliver on this strategy."

Major Japan banks' profit to fall 23% in FY 2020 amid virus spread

Resona Holdings Inc. said it expects to post a net profit of 120 billion yen, down 21.3 percent.

Canara Bank launches gold loan business vertical to ease liquidity

Public sector Canara Bank said on Monday it has launched a business vertical dedicated for gold loans to meet emerging financial needs of customers in view of the current challenges and uncertainties.

NAB to hire 400 staff to help assess COVID customer status

The bank later confirmed more than 500 customers had reversed their home loan repayment pause to date.

HSBC, Citi speed up digital push to ward off Asian upstarts

With branches shut, customers social distancing and fearful of tainted cash, the brick-and-mortar giants are seeing a surge in demand for digital services for everything from wealth management to insurance.

Daniel Sandmeier: «Asia is Next Logical Step»

The platform gives them transparency via a price-finding mechanism.

CBA 3Q20 Trading Update

Commonwealth Bank of Australia has today released its trading update for the quarter ended 31 March 2020.

UOB Expands Robo-Advisor to Malaysia

The Digital Adviser has a minimum investment of RM500,000 ($115,000), while corporate investors who use the Fund Direct feature must meet the minimum investment requirements of the respective UOBAM-managed funds.

ICICI Bank's Q4FY20 standalone net profit up 26%

Excluding Covid-19 related provisions, the profit after tax would have been Rs 3,260 crore (US$ 431 million)

OCBC Q1 profit slumps 43% on lower insurance contributions, surge in provisions

General allowances also soared to $382 million from $17 million previously, which includes forward-looking macroeconomic variable adjustments to buffer for stresses expected against the recessionary market outlook.

UOB approves $4b in loans to mid-sized firms under government-assisted loan scheme

They have also tapped a Monetary Authority of Singapore facility for Enterprise Singapore loans that lend at an interest rate of 0.1 per cent.

Malaysia's PNB to raise foreign exposure to 30% of assets by 2022

PNB will engage with its external fund managers to help meet the target, and some of its employees will also be seconded to those outside firms.

Spending freeze starts to thaw before restrictions lift

While spending remains well down from a year ago, CBA’s latest credit and debit card data shows early signs of improvement, especially online.

Postal Savings Bank of China net profit up 8.39 pct in Q1

The agriculture-related outstanding loans of the bank stood at 1.31 trillion yuan at the end of March, up 45.2 billion yuan from the end of 2019.

IMB Bank completes merger with Hunter United Employees’ Credit Union

Merger strengthens IMB distribution capability and increases ties with

Westpac Defers Dividend as Profits Plunge to Two-Decade Low

The profit plunge adds to a dismal earnings season for Australia’s biggest banks, which have historically been among the world’s most profitable.

Bank of China may absorb part of $1bn in client losses

Hundreds have taken to the internet to protest the lender’s handling of the contract rollover and to demand it assume some of the shortfall.

DBS unveils new financial advisory app

Technology has helped the insurance, brokerage and wealth management industries scale up and reach more customers with their services.

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