Retail Banking
OCBC net profits down 26% to $3.59b in FY2020
CEO Samuel Tsien maintained a cautious outlook for the economy’s recovery.
OCBC net profits down 26% to $3.59b in FY2020
CEO Samuel Tsien maintained a cautious outlook for the economy’s recovery.
UOB's net profits down 33% to $4.34b in FY2020
The group emphasized wealth and connectivity-related services as tenets for growth.
Citigroup mulls divesting some APAC retail banking units
Revenue from consumer banking in the region declined 15% in Q4.
Australia's Bank of Queensland to acquire ME Bank for A$1.3b
This ramps up BoQ’s competitiveness via increase geographic diversity and scale of operations.
HSBC Singapore to name new CEO
Current chief Tony Cripps will become CEO of Saudi British Bank in May.
Philippine banks to offload bad loans via asset management firms
They will be granted tax incentives to cover transferring costs.
India shortlists four mid-sized banks for privatisation
Two of those lenders will be selected for sale in FY2021/2022.
Weekly Global News Wrap: Investment banking propels Deutsche Bank to 2020 profit; BNP Paribas posts $2.9b Q4 net profit
And Italy's Intesa CEO said wealth management 'too pricey' for large deals.
Fintechs' latest acquisitions hint at ASEAN banking sector shake-up
But they are unlikely to pose a challenge as newcomers and incumbents target different clients.
Weekly Global News Wrap: US regulator rules banks cannot refuse lending to certain sectors; JPMorgan beats Q4 2020 profit expectations
And Goldman Sachs mulls deals to boost consumer banking unit Marcus.
Two in five Indian adults to have a digital bank account by 2026
Up to 373 million locals could open a digital-only bank account in the next five years.
Philippine banks' COVID-19 rebound faster than in 1997 crisis: banking group
Local lenders may rebound in three to four years.
Even with the arrival of the digital banks, don't write off the incumbents
Much has been written about the likely death of incumbent banks in the face of coming competition from neobanks (or digital banks) soon to be launched...
India's HDFC Bank posts $1.2b in Q3 profit
Gross bad loan ratio shrank to 0.8% at end-December.
OCBC launches COVID-19 employee vaccine support programme
The bank will provide vaccine education as well as support for side effects.
Indonesia's BRI to raise $1b in rights issue
It wants to strengthen its capital base for possible acquisitions.
Indian central bank drafts scheme for Lakshmi Vilas, DBS India merger
DBS will inject $345m into DBIL if the scheme is approved.
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Why Philippine banks, insurers embrace hyper-personalized services
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Insurance
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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