News
Fusion Bank unveils business loans with up to $5m financing
Fusion Bank unveils business loans with up to $5m financing
One loan is for businesses at least three years old.
Manufacturing, household spending weigh on KBank’s Q2 net profits
Net profit for the quarter is 6.18% lower than in Q1.
Metrobank’s net income up 9.6% in Q2
The bank reported higher gross revenue and expenses for the quarter.
Philippine Business Bank’s net income is $9.02m in Q2
The SME-focused bank announced a PHP0.64 EPS for Q2.
Mox Bank opens platform to crypto-related investing
Mox Invest users can access and invest in crypto ETFs.
SBI General Insurance, HSBC seal bancassurance partnership
The bank will offer SBI General Insurance’s entire non-life offerings.
Citi names Yeo Wenxian as wealth head for South Asia
Yeo will also take over as CEO of Citibank Singapore Limited.
HKMA proposes simplification of three-tier banking system
It aims to simplify DTCs to second-tier institutions.
Malaysia’s outstanding loans up 6% in June
Business loans lifted overall growth, whilst household growth was slower.
YouBiz unveils CNY remittance corridor
Chinese and Singapore businesses can make “swift and recurring” payments.
Norinchukin’s capital raising signals support, but high rates still a problem
Unrealised losses on bonds climbed higher in Q2.
Malaysia’s business loans slated for up to 7% growth in 2024
However, softer credit demand is seen from the household segment.
WeChat Pay Malaysia ceases e-wallet services
Payment services will cease on 1 September 2024.
Taiwan’s virtual banks tout corporate banking and FX to reach profitability
All 3 banks reported narrower losses in 2023.
Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
And Wells Fargo is under investigation over issues in its AML programs.
Thailand postpones card repayment rate hike amidst borrower struggles: report
The central bank will continue to promote consolidation of home and retail debt.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
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