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Recession hounds APAC financial firms as pandemic batters credits
Recession hounds APAC financial firms as pandemic batters credits
The outbreak will permanently reduce the economy by 2-3%.
Weekly Global News Wrap: ECB extends dividend ban; AmEx warns of slow rebound as credit losses soar
And Goldman Sachs' new performance review opens for more job cuts.
South Korean banks' daily FX turnover tumbled 12.4% in Q2
Values were hit due to the cut in transactions and fluctuations in exchange rates.
Tokyo, Sydney, aim to lure financial firms from Hong Kong
But Singapore remains the top draw due to its favorable environment and standing.
Chinese banks' capital gap to foil economy boost
Inefficient credit could potentially lead to high systemwide divide.
HSBC denies Chinese media report it ‘framed' Huawei: report
People’s Daily accused the lender of lying about the tech giant.
Goldman Sachs to pay $3.9b over 1MDB scandal
Malaysia will drop all criminal charges against the bank.
Indian banks face further credit slump in Q2
Scheduled commercial banks saw weaker credit growth at 5.9%.
South Korea posts record high FX deposits in June
The ongoing pandemic pushed businesses and individuals to boost holdings.
Majority in APAC still hope to move from LIBOR despite pandemic: poll
Three-fifths have have seen their transition plans grinding to a halt.
Australian banking watchdog seeks to update dividend hold policy
It said that the local economy is now less uncertain than in April.
MUFG Bank to digitize personal stamp forms with robotics, AI
The lender will digitize over 300 million pages of paper forms stored in warehouses.
South Korean regulator to end repo agreements
This is due to improved market liquidity and reduced demands.
How Lendela streamlines customers' loan application process
The platform matches up customers’ loan needs from banks and lenders.
Consumer spending to spur growth in Taiwan card payments
The value is expected to reach $200.2b by 2024 at a CAGR of 7.6%.
Singapore central bank fines trust firm for money laundering holes
Asiaciti Trust committed money laundering breaches between 2007 and 2018.
APAC banks face $1.27t in credit losses over the next two years
Chinese banks will account for $398b losses in 2020.
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