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Weekly Global News Wrap: JPMorgan gives out $30b in loans for US SMEs; Citi pilots ESG unit
Weekly Global News Wrap: JPMorgan gives out $30b in loans for US SMEs; Citi pilots ESG unit
And Westpac admits to money laundering breaches.
Singapore allows finance firms to reopen select locations starting 2 June
But most staff will continue to work from home.
Chart of the Week: COVID-19 to drive digital payments take-up in Hong Kong
E-payments firm Octopus said that mobile wallet usage rose 30% in February.
Chinese central bank should dodge bond buying: adviser
It could lead to inflation and the depreciation of the yuan.
Japanese major banks' lending surge 3.4% in April
Borrowings by COVID-hit firms spurred the jump.
Asian bankers face ‘new normal' as they return to offices
Despite the measures, some have expressed relief at physically seeing their colleagues again.
Indian banks want government to fund ‘bad bank'
They are pitching for an asset reconstruction company to buy NPLs.
China's central bank to run medium-term loan operations
A batch of $28.b in loans will expire on 14 May.
Weekly Global News Wrap: Spanish banks reopen; StanChart defends climate goals after carbon finance flak
And Morgan Stanley agrees to pay $5m fine.
Australian banks' cash earnings drop 42.6% YoY to $5.4b
Sector braces for more uncertainty as banks cancel or defer dividend payouts.
Philippine banks' credit losses to rise threefold in 2020
Credit costs in select banks have already increased by up to 4.9%.
Regulations to quell slight uptick in Hong Kong banks' credit losses
Credit losses will notably decline in 2021.
Singapore's Big Three banks fell in Q1 as pandemic persists
Compressed net interest margin and rise in non-performing loans are to be expected, according to analysts.
Australian banks defer $130b in loans
100,000 loans were deferred in the past week.
Rising overdue loans imperil Vietnamese banks' capital
Delinquencies are likely to further rise as economic outlook remains gloomy.
OCBC's Q1 profit plunges 43% YoY to $698m
Banking and insurance operations suffered tremendous losses.
Volatility spells investment losses for Thai non-bank financial firms
Higher NPLs and credit costs may set in once measures expire.
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