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UPI propels India’s mobile wallet payments to $6.5t by 2028
UPI propels India’s mobile wallet payments to $6.5t by 2028
In February 2024, $221.5b in value was paid across 12.1 billion UPI transactions.
Postal Savings Bank of China faces ROAA decline but sustains strong fee income
Adequate provisions to buoy resilient asset quality.
Lower interest rates and property woes weigh on Bank of China’s profits
Net interest margin fell, although at a lower decline than other Chinese megabanks.
BOCHK's strong profits combats its property loan weakness
The bad loans ratio, whilst rising in 2023, is expected to fall to 0.7% in 2024-2025.
MAS eyes enhanced safeguards for elderly and non-english proficient financial clients
Authorities aim to implement enhancements no later than H2 2025.
Malaysian banks’ loan ratio at 1.6% in Feb
Loan loss coverage is at 120% of impaired loans, central bank data showed.
Chart of the Week: Singapore investment banking fees down 14% in Q1
Advisory fees from M&A transactions fell by 74% during the quarter.
BOCHK warns against phishing email
It advised customers to delete suspicious emails and attachments without opening them.
VP Bank names Will Wang as wealth head in Hong Kong
Wang is also now chief representative of the VP Bank AG Hong Kong Rep Office.
MAS expands regulations for digital payment token service providers
It will impose requirements for anti-money laundering and user protection.
China Merchants Bank says it’s “challenging” to achieve Q1 earnings growth
The bank is bracing for a margin squeeze and guided for tepid fee income.
Japanese banks ‘less reluctant’ to finance hostile takeovers: report
Banks are seeing a rise of deals related to unsolicited bids for corporate takeovers.
HDBank charts best-ever profits of $524m in 2023
The bank’s profits have grown at a rate of 49.1% over the past decade.
Mandated property lending poses challenges for Agricultural Bank of China
ABC also faces a moderate decline in profits following recent rate cuts.
Tighter interest margins and rising bad loans weigh on CCB
The non-performing asset ratio is expected to rise to 4.48% in 2024.
SIA taps Mastercard for Southeast Asia loyalty card programs
The co-branded credit and debit card programs offer new ways to earn KrisFlyer miles.
SMBC reels new managing executive officer and co-head for Asia Pacific
Katsufumi Uchida succeeds Yuichi Nishimura in this role.
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