China

City and village banks saw net profit grow 13.7% compared to 4.8% for the Big 4.

Insurers are lining up to snap up perpetual bonds, with $32.14b of such instruments already hitting the market.

He joins from Bank of Singapore.

With narrower loan margins, some banks may turn to riskier activities to boost earnings.

The move comes after the takeover of Baoshang Bank.

Around 5,600 branches were set up in far-flung communities.

Core shadow banking activities have dropped to $420b in 2018.

It will utilise a linked customs declarations number.

It was lower compared to the $180b worth of new loans expected by analysts.

China is lagging behind with share of POE bank loans just at 26%.

It is offered to investors in the $289m worth of six-month certificates of deposit.

Chinese yuan has been under pressure in recent weeks due to the double dip in recent ecomomic data and more importantly, the escalating trade war with the US. Since then, the CNY has shown weakness against USD, breaking 6.9 versus the USD, but also against major global currencies. The looming prospect of the China-US relationship, as well as a likely continued lax monetary policy in China, has all pointed to a weaker yuan, at least in the short term.

State-owned CCB will ba taking over the business of Baoshang Bank.

He was previously the head of global corporate banking at MUFG Bank China.

The regulators identified serious credit risks.

It will boost headcount at Guangzhou, Shanghai and Xi'an by 14% from the current 7,000.