News

ASIC holds $1.93b in unclaimed funds from old financial accounts

The largest single amount currently unclaimed is around $927,000 (A$1.3m).

Citi promotes Sutida Tambunlertchai to head commercial banking in Thailand

Citi has announced a slew of appointments over the past month.

Danamon and MUFG Indonesia explore potential integration by 2027

The integrated bank will remain a consolidated subsidiary of MUFG Bank.

Philippine cash remittances up 2.8% to $8.68b in Q1

The US remains the top source of cash remittance.

BSN eyes retail and gold to push beyond mortgage-heavy roots

It is wading downstream from mortgages to lend to developers, hardware stores, and the likes.

SMFG logs record profit of $10.02b in FY3/2026

The Japanese megabank aims for a $10.7b net profit for FY3/2027.

SMFG launches shareholder benefit program ahead of 2-for-1 stock split

They will be granted up to JPY30,000 worth of rewards points, amongst other perks.

Raise Financial acquires GILB in $15m bet to build direct insurance platform

Raise said that it has received all required regulatory approvals to acquire GIBL.

Insurance growth strains trust at claims stage

Claims delays reshape customer loyalty patterns in Indonesia insurance sector.

Indonesia's financial sector urged to shift from expansion to resilience

The country’s 5% growth is no longer a green light for risk-taking, an economist warns.

Citi targets APAC insurance investments with new senior hires

They have poached two BofA bankers to help lead its FIG group.

Banks and insurers must chase AI value creation, not cost savings

They should consider AI as an operating system by itself, not whether it can write them a system.

Margin pressure forces banks off board-rate deposit pricing

Deposit pricing strategies shift as competition tightens funding conditions.

Insurers told tech alone won’t solve rising complexity in Indonesia

Indonesia’s insurance penetration remains low at 2.72% despite rapid AI adoption.

Indonesian banks pursue SMEs, emerging affluent in fintech battle

Financial institutions are bracing for the ‘invisible banking' era.

Why channel reliability trumps promotions in Indonesia's bank loyalty war

Consumers don't want e-channels that are constantly down or lags.