Economy
Banks post record $1.2t profit in 2024: McKinsey
Banks post record $1.2t profit in 2024: McKinsey
If banks fail to adapt AI, global profit pools could fall by about $170b.
China’s banks expand lending but struggle with weakening demand
UOB Kay Hian said banks remain cautious in extending long-term credit.
Why Indian banks are seen to absorb loan losses
S&P also said earnings are likely to moderate but remain above long-term averages.
Bank Negara launches upgraded RTGS system for continuous payments
Since 2024, Malaysia’s daily retail payment volume and value have grown by 49% and 22%.
HKMA warns public of online scams targeting local banks
The Bank of East Asia reported fake websites and internet banking login screens.
RBA sets out plan to make payments system ‘anti-fragile’
It has also warned that delays in encryption and contingency plans risk fraud and disruption.
HKMA study identifies AI and data analytics as key banking skills
Another key finding is the importance of a collaborative approach across the industry.
Australian mutual banks may offset costs through process automation
It could help banks sustain their historical loan growth of about 6%.
FInancial services hiring slows as consumer demand weakens
This marks the second consecutive quarter of declining confidence.
MUFG partners with Kodansha, CREDEUS team up to fund film productions
They will fund live-action film series adaptations of Kodansha-published works.
Mizuho signs MOU with Abu Dhabi Investment Office
Mizuho plans to support clients interested in expanding into the UAE.
The Asian connection: China's path to sustainable growth
Consider the ASEAN region, a collective of ten Southeast Asian countries brimming with untapped potential.
Cambodia joins ASEAN RPC initiative to boost payment links
RPC was launched in 2022 by central banks of Singapore, Indonesia, Malaysia, and more.
Japan’s SMBC enters partnership agreement with Avispa Fukuoka
It will introduce a scholarship program and promote use of sports data utilization.
Why high capital levels are a double-edged sword for Singapore banks
The banking sector in Singapore has shown signs of expansion, with loan growth rising to approximately 5% in 2024.
Bain Capital buying 18% stake in Manappuram Finance for $508m
The deal may close in Q2 or Q3 of the 2026 financial year.
Malaysia’s central bank appoints new deputy governor for supervision and regulation
BNM also announced a new technical adviser and an assistant governor.
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1. UOB’s net profit down 16% to $443m in Q3 2. ShaComm Bank, HashKey team up for digital asset push 3. MAS, police tighten coordination for Prince Holding Group probe 4. Hang Seng Bank launches money lock feature 5. ANZ warns H2 profit will be hit with $727.19m charges from significant itemsResource Center
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Experts explored how hybrid multi-cloud strategies and interconnected data centres are shaping the future of banking in the region.
Commentary
Fighting fraud in the digital banking age
Asian banking’s next frontier: Beyond growth, embracing precision
Rethinking cybersecurity: How APAC banks can safeguard against AI-powered threats
Why Singapore’s fast payments need faster protections