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Weekly Global News Wrap: CEO changes bring in new age of European banking; Wells Fargo pays $3b settlement for fraudulent sales
And JPMorgan confident that it could withstand economic stresses.
Weekly Global News Wrap: CEO changes bring in new age of European banking; Wells Fargo pays $3b settlement for fraudulent sales
And JPMorgan confident that it could withstand economic stresses.
Chart of the Week: China gradually opens up $16.5t card market to foreign players
Card payments value is expected to grow 11% CAGR to $25.9t by 2023.
Japan banks' profits, asset quality further battered by COVID-19 outbreak
Lower interest rates and higher credit costs spell more trouble.
Check out Hong Kong's top fintech deals from 2015-2019
Online brokerage firm Futu Holdings raised $145.5m, the largest deal since 2015.
Coronavirus outbreak pushes back funds for China's state finance firms
But they will continue to get government support given their involvement in public infrastructure.
Malaysia pushes QR-payments adoption to combat cash reliance
The DuitNow QR System is a key factor to drive interest in cashless payments.
Central bank's push for economic support a blow to Chinese banks
The PBOC has depended on banks for debt reprieve to virus-hit firms.
Hong Kong records $2.92b in fintech investments for 2019
WeLab $1.21b funding round was the largest fintech deal for the year.
Singapore's fintech investments hit $1.21b in 2019
It is now the fifth biggest fintech market in APAC.
COVID-19 outbreak may double Chinese banks' questionable loans
The loosening of regulations is a setback on China’s reformation efforts.
Chart of the Week: APAC banks not reliant on market-sensitive income
Further drops in prices of financial assets are likely if the COVID-19 outbreak persists.
HSBC to shed $100b in assets in massive revamp
About 35,000 jobs may be axed over the next three years.
Weekly Global News Wrap: JPMorgan reshuffles investment bank; Fintech firm LendingClub buys Radius Bank for $158m
And customers were outraged by N26 UK exit.
Deutsche Bank floats FX digital platform in Sri Lanka
Clients can pay in local currency between two Asian markets.
Standard Chartered commits $75b for sustainability drive
By 2030, they will cease support for clients who get more than 10% of their profits from thermal coal.
COVID-19 pushes Thai asset manager to the top
Bangkok Commercial Asset Management’s shares ballooned by 74% this year.
China tops global mobile wallets usage
The country’s transaction value will hit $793.6b this year.
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Why Philippine banks, insurers embrace hyper-personalized services
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Industry experts push for the rapid progress of unified customer data as a starting point.
Industry experts push for the rapid progress of unified customer data as a starting point.
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