News

The bank is transforming its IT infrastructure to better process green data.

Gautam Saxena also founded the venture capital fund Pegasus 7 Ventures.

It is also launching its flagship portfolios in May 2024.

The venture is expected to launch this year.

CIMB has not named a successor yet.

The same rising rates will increase the bank’s unrealized losses on its domestic bonds.

Funding to crypto firms more than tripled compared to Q4 2023.

Liquidity is expected to decline as it accelerates lending in 2024.

Superapps like WeChat and Grab are adopting and offering BNPL services to users.

A total of $2.65b in remittances coursed through banks, the central bank said.   Personal remittances from Overseas Filipinos (OFs) grew by 3% to $2.95b in February, according to central bank data.

AI emerges as a leading sector for venture capital, while traditional fintech areas in Asia see reduced funding.

The market is expected to grow by over 11% between 2023-2027.

It will offer real-time data, analytics tools, and educational resources.

It plans to offer virtual accounts, and debit and prepaid cards, amongst other services.

The cash was expected to have served over 8,000 ATMs and branches.

The asset quality of auto finance companies will be tested.