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Thai banks' net profits expected to grow 27% in Q4 2019
Thai banks' net profits expected to grow 27% in Q4 2019
But earnings are down 6% over the same period due to higher operating expenses.
Weekly Global News Wrap: Goldman Sachs launches online bank app; Visa buys Silicon Valley startup Plaid for $5.3b
And Wells Fargo’s new CEO sets $1.5b for legal costs of sales scandal.
South Korea and China are Asia's cashless leaders
More than half of Korea’s 1,600 bank branches no longer accept cash deposits or withdrawals.
Global FX market daily turnover hits $6.6t in 2020
A 40% increase in daily forex trading volume was noted over the last decade.
Australian borrowers hit by bushfires face risk of inadequate insurance coverage
Disruptions on local employment could drive arrears up.
Australian fintech firms raise over $2.7b from 2015-2019
Deals over $100m comprised 41.9% of capital raised.
Data to determine success of Singapore digital bank aspirants
Eight publicly known applicants want to focus on the country’s underbanked segment.
Surge in Philippine property prices threaten banking system
A boom in the POGO sector led to a 10% YoY rise in residential real estate prices in Q3 2019.
Indian card payments surge amidst cashless efforts
Total number of card payments quadrupled from 2 billion in 2015 to 7.8 billion in 2019.
Indian retail banks could claim bigger share of housing loan market in 2020
NBFCs and HFCs have reduced disbursement rates.
Chart of the Week: Malaysian card payments to hit $81b by 2023
The interchange fee cap and adoption of new financial tech is helping reduce cash reliance.
Weekly Global News Wrap: Absa signs $497m deal to boost African lending; Goldman Sachs' consumer arm earned $822m
And Citibank appoints David Chubak as head of retail banking.
India's Religare Finvest may see 49% haircut with rare debt recast
Its lenders have reportedly agreed to write off almost half of its $808m debt.
Philippine central bank chief signals possible interest rate cut in Q1
The bank lowered rates by 75 basis points last year.
Malaysian banks' net profit to grow 4.8% in 2020: report
But NIMs are expected to taper off a further 3bps over the period.
Singapore monetary board receives 21 digital bank licence applications
Fourteen applied for digital wholesale banks whilst seven went for digital full banks.
AI is top fintech trend of 2019: study
The value of AI in the fintech market is expected to rise four times by end-2024.
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1. UOB upgrades 300,000 Visa cards to new premium tiers across ASEAN 2. Asia plays part in $129t global credit market pool 3. HSBC and EPAA launch agentic payments working group 4. UOB Private Bank names Judy Chan as Hong Kong managing director 5. Revolut launches its first APAC bank in AustraliaResource Center
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Asia plays part in $129t global credit market pool
How alternative data lending is reaching Southeast Asia's unscored MSMEs
Asia is leading payments modernisation and banks can't afford to fall behind