Singapore

The bank is adding 1,300 roles that will be assigned primarily in Hong Kong, Singapore and China.

The loan growth of commercial banks hit 17-18% on average.

The offering has a subscription rate of 2.7 times from asset managers and commercial bank investors.

Entries will be accepted until 10 May.

And a California bill proposes creation of local banks.

Gabriel Tam was named as Asia head of UNHW solutions.

Asia is not only the largest single market in terms of consumer payment value but is also home to the largest share of the world’s unbanked population. Rising smartphone and internet penetration have enabled many to gain access to financial services that were previously limited to mainstream financial institutions. Consumer uptake of mobile payments has been driven by the providers’ ability to value-add by addressing the local markets’ pain points. The value that mobile wallets bring to consumers revolves around the ability to transact with a peace of mind, accessibility to lifestyle services and integrated loyalty platform.

Along with my colleagues Mark Goodridge and Mulya Chandra from Morgan Stanley’s ASEAN equity research department, I have been writing about the potential disruption to ASEAN banks from new payments technologies for much of the last year. We believe it is one of the key structural themes for equity investors in banks to understand as they think about future earnings and dividend streams.

It will feature a proprietary pricing and hedging algorithm and offer 23 spot currencies.

Edward Robinson and Chia Der Jiun will assume deputy managing director positions.

SIBOR has risen 6bps YTD and is expected to rise further.

And JPMorgan Chase is moving away from prison finance.

UBP will soon offer SGD services like deposits and loans.

Consumer loan growth fell to 0.7% whilst business loans increased 5%.

Of its peers, only UOB saw declining CET1 ratios amidst faster loan growth.

It is no secret that the private banking industry in Asia is facing revenue pressure on multiple fronts, with margin compression and revenue erosion becoming the new normal. There are a few key developments driving this pressure, including: