Managers of Wealth Asia Pacific

Mizuho Financial chief executive says path to retail banking in Asia is online

Japan’s biggest banks have made Asia their focus as persistently low interest rates and a sluggish economy hurt prospects at home.

Path to take to enter Asian retail banking business is online, says Mizuho CEO

Japan's third-largest banking group is more likely to either buy an online lender or build one from scratch itself, rather than acquire banks with physical branches, CEO Tatsufumi Sakai said in an interview.

Union Bank of the Philippines Receives Five Awards at the 2019 Frost & Sullivan Best Practices Awards

The bank is performing well beyond the trail of innovation, completely transforming its banking capabilities and enhancing customer experience.

Japan's largest bank targets big job cuts in London

MUFG will accept applications until the end of July and the number of retirees will be decided on that basis, a person with knowledge of the matter said.

Australia’s minimum wage rises by 3% as growth, inflation cool

The proportion of all employees that are paid at the adult minimum wage rate is estimated to be 1.7 per cent, or around 180,200.

NAB sells fund administration business

Ausmaq chief executive Ravi Subramaniam said the sale was the beginning of a new chapter for the administrator.

CBA down, industry up for employment

The top three instead were: ANZ, Macquarie Bank and Westpac.

Philippines Central Bank Chief Signals More Reserve Ratio Cuts

Reserve ratio cut follows key rate reduction, slower 1Q growth

United Overseas Bank: Plotting the Coordinates on the Road to Digital Banking in ASEAN

The message is that we must all evolve in order to survive and to compete, and that is certainly true in banking.”

Remediation costs weigh on profits at Commonwealth Bank

The big four bank, which is Australia’s largest bank, said the remediation consisted of $334 million for Aligned Advice remediation, $72 million for wealth customer refunds, $152 million in banking customer refunds and $156 million in other costs.

Korean banks seek expansion in Indonesia

Bank Woori Saudara, meanwhile, has been holding a series of seminars on asset management for Indonesia customers, Woori Bank in Seoul said.

Bank deposits growing, not slowing: RBI report

According to the RBI report, empirical evidence puts forward several interesting facts about the behaviour of bank deposits.

CBA's clean-up bill for scandals tops $2.1 billion

The main culprit for the drop, which was worse than investors had expected, was a new $714 million charge that the bank took in provisions for customer remediation, mainly in its wealth division.

ICBC Singapore Issues Bank’s First Green Bond

They received over $2.4 billion and $1.5 billion in orders respectively, with Asia buying 92 percent of the deal and the rest coming from EMEA in both cases, according to Reuters.

PNB raises P13.87B from bond offering

The bonds carried a coupon of 6.25 percent.

HSBC: Banking by Proxy?

It’s breeding is impeccable in a region that values pedigree almost as much as the British peerage does.

Westpac stung with a $700m plus profit wipe-out

The question is whether Westpac’s results adds to this confidence even as its first net profit tumbled to $3.2 billion, while the more closely watched cash profit figure plunged 22% to $3.3 billion.

Ecobank’s Rapid Transfer app gets recognition

The award covers the Asia Pacific, the Middle East and West Africa

Banks reskilling staff for digital transformation

Lenders also creating new roles, using more tech at contact centres

Japanese banks to boost fight against money laundering

If the industry receives a similarly inferior evaluation again, Japanese banks’ international transactions may be subject to restrictions, and overseas settlements and remittances, as well as transactions for cross-border trade, may be affected.

Retail Banking