China
Chinese joint stock banks turn sour, economic outlook grim
All five banks saw single-digit contractions in operating income.
Chinese joint stock banks turn sour, economic outlook grim
All five banks saw single-digit contractions in operating income.
Chinese banks cut deposit rates: report
The banks cut deposit rates between 5 and 25 basis points.
Weekly Global News Wrap: US floats stricter regional bank rules; Some China banks to cut mortgage rates
And Wells Fargo has agreed to return $40m in overcharged fees to 11,000 customers.
China’s financial sector may be hit by Zhongrong’s missed payments
The ongoing property sector downturn poses a larger risk for the trust industry.
China state-owned banks to post ‘sharp’ revenue decline: report
Banks are battling lower lending rates, ongoing property woes, and low interest margin.
Weekly Global News Wrap: China floats $1.3m asset minimum for hedge fund industry; US levels banks with $549m in penalties
And the Netherlands’ Rabobank sees profits double in H1.
Mastercard enables China visitors payment option through WeChat Pay
Inbound cross-border travel to China improved to around 50% of 2019 levels.
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
Lower mortgage rates may have slight effect on Chinese banks and RMBS: Fitch Ratings
Policy adjustments to lower mortgage rates on existing loans could pressure Chinese banks' net interest margins and profitability.
Luxury travel retailer DFS taps Alipay+ to offer cross-border payments for Asian travellers
DFS and Alipay are also developing other membership offers and rewards.
China taps banks to bolster cross-border trade, offer financial support
Additional support will be provided for export-related credit insurance.
HSBC builds up China green finance team: report
It also mulls offering carbon offset products to customers, a source said.
Chart of the Week: 8 in 10 Chinese consumers use mobile wallets
High cost of POS terminals and insufficient payment infrastructure push e-wallet use.
Bank of Shanghai to have sound asset quality, profitability at 0.7%: Moody’s
The bank’s net income/tangible assets fell to 0.74% in 2022 due to a decline in net interest income and fee income.
Ping An Bank commits first loan for carbon capture project in China
The project is valued at RMB180m ($24.8m).
NIM to offset China CITIC Bank elevated credit costs: Moody’s
The reopening of mainland China will drive sales of wealth management and insurance products.
Alipay, Mastercard enables visitors to transact digitally in China
Regardless of the origin of their Mastercard card, travellers can opt to choose this payment method.
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Standard Chartered Hong Kong wins big at ABF Retail Banking Awards 2024
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The bank’s efforts and achievements have become a testament to its commitment to its colleagues and the communities it serves in.
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1. Labour force upskilling needed as SG nears 'super-aged' status 2. MAS, IBF working on gen AI job impact map 3. Australia’s P&N Bank scraps proposed merger with Beyond Bank 4. Australia’s P&N, Beyond Bank likely to seek other merger opportunities 5. Singapore’s financial sector employment rose 4,800 in 2023Events
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