Managers of Wealth Asia Pacific

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.

UnionBank is 2020 Model Bank for Financial Inclusion

Fintechs can publish their APIs on the marketplace alongside the bank's, allowing anyone on the platform to consume other fintechs' APIs as well.

Singapore bank lending dips 0.1% in March from February

Consumer loans, however, shrank by 1.4 per cent to $258.23 billion last month from $261.93 billion in February

CBA sells CommSec Adviser Services

The transaction includes the broking operations, licence and assets of AUSIEX.

BNZ's first-half result a bright spot as NAB raises A$3.5b

BNZ's cash earnings of $562 million compare with $532 million in the previous first half.

Japan's MUFG Bank Plans More Staff Cuts, Totalling 8,000 by 2023: Yomiuri

Japanese banks have been struggling to boost profits under a policy of aggressive monetary easing that has seen the central bank guide short-term rates toward -0.1% and the 10-year government bond yield to around 0%.

Stanbic Bank Botswana launches initiative to facilitate trade with China

Manokore said the program also empowers importers with insight and control of the entire importing and logistics process.

Decline in business activity intensifies

Business activity is falling faster in April compared to March, according to initial results of the latest CBA Purchasing Managers Index.

Spending intentions show how Aussies are adapting to the new normal

Online learning, and health and fitness spending intentions increase as Australians make changes to their lifestyle amid the coronavirus pandemic.

Citi sees India’s budget gap widening the most in three decades

Citi says India's budget gap will be about 8% of the GDP, the widest since 1987.

Banking trio announce uneven Q1 results

Increase in NPLs a common theme

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