Managers of Wealth Asia Pacific

New digital banks challenge HSBC’s Hong Kong dominance

Competition threatens to squeeze profit margins and compel more spending on technology

Landbank expands rollout of digital onboarding system

Since its launch in 2018, more than 98,000 accounts have so far been opened through the system, Borromeo said.

Banks Not Seeing Revenue Growth Despite Technology Investments

It found that while half (50 percent) them are achieving higher profitability, this is the result of lower operating costs and not revenue growth.

UOB Kay Hian emerges as suitor for DBS Vickers' remisier base

Sources say the two parties are in talks for the transfer of the remisiers and trading reps as a group

NAB makes $2bn lending commitment to tech companies

“NAB can support technology companies at every stage of their development - from NAB Ventures which backs starts ups through to big business.”

MUFG faces multibillion-dollar write-down on Indonesian bank

Danamon's shares tanked after MSCI index removal

CBA sells advice dealer group

According to Rainmaker analysis of the ASIC Financial Adviser Register, as of this morning Count Financial is home to 351 active financial advisers.

Bank puts hold on regional branch closures until 2022

The moves have drawn the ire of Regional Development minister Shane Jones who last year complained to Reserve Bank governor Adrian Orr and said banks should be required to maintain a certain level of service given how much they make in profits.

RCBC sustainability bond marks new milestone

RCBC upsized the sustainability peso bond due to considerable investor demand, with the proceeds mainly directed towards green-minded loans for customers or its own activities

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.

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