Current Account Feb 25 Bank of America sees diverging domestic cycles reshaping ASEAN bank credit growth and margins AI-driven export strength is lifting parts of ASEAN’s outlook, according to Bank of America’s Kai Wei Ang and Rahul Bajoria, but widening divergen... 1265
Current Account Feb 19 Standard Chartered CFO joins Apollo as private credit platforms expand institutional role Diego De Giorgi’s move from Standard Chartered to Apollo Global Management comes as institutional investors continue expanding their role in credit ... 1908
Current Account Feb 13 Singapore studies how to bridge private capital and public markets through new growth capital workgroup Authorities will examine origination, mobilisation and recycling of capital while seeking to attract regional companies and technology startups to rai... 1799
Current Account Sep 15 BNY positions for the next frontiers of global finance In the lead up to Sibos 2025 in Frankfurt, BNY said the focus will be on how global payments and market infrastructure are being reshaped by interoper... 2799
Current Account Aug 07 Hong Kong steers towards the future with e-HKD pilot programme HKMA’s pioneering programme signals a major leap towards digital financial innovation in Hong Kong, combining efforts from multiple sectors to explo... 5590
Current Account Jul 25 UOB and Woori Card partner to fuel ASEAN-Korea travel boom UOB and Woori Card’s new collaboration aims to capitalise on the growing ASEAN-South Korea travel market by leveraging their combined cardholder bas... 5610
Current Account May 02 Jack Ma makes his voice heard after five years Ma found himself back under media scrutiny with a memo on Alibaba’s structural reform. Could this be an easing of tensions with Chinese regulators, ... 9407
Current Account Apr 26 PBoC’s new deputy governor determined to get risk management right Tao Ling’s appointment at the Chinese central bank signifies a renewed focus on enhancing China’s financial stability and risk management strategi... 6435
Current Account Apr 23 MAS launches digital platform to fight money laundering and terrorism financing Singapore’s central bank has launched a platform that allows financial institutions to exchange customer information and flag suspicious activities ... 15983
Current Account Apr 19 Is China’s economy on a solid upward trend? China’s economy grew faster than expected at the start of the year but it remains to be seen if it signals a solid recovery trend as the crisis-hit ... 2493
Current Account Apr 03 Bitcoin’s $1.3 trillion market cap reflects heightened interest despite regulatory scrutiny Surging past $1.3 trillion, the cryptocurrency marks a significant milestone, with some enthusiasts predicting a potential $56 trillion cap by 2034... 77345
Current Account Mar 11 Grab Financial Group cuts losses by 29% in 2023 A prominent player in Southeast Asia’s digital finance sector, the group saw significant growth in 2023, cutting losses by 29% despite a challenging... 2592
Current Account Feb 23 India’s hard whip on Paytm Payments Bank signals tough stance on compliance breaches The Indian central bank’s disciplinary action and consequent threat to Paytm’s licence is a lesson for the industry that growth and innovation can... 3895
Current Account Feb 20 US banks confront challenges in shifting commercial real estate dynamics As commercial property prices decline due to a pandemic-induced decrease in office space demand, US banks are boosting provisions for credit losses, p... 5437
Current Account Feb 13 Evergrande liquidation forces ripple effect on China’s property sector In late January, troubled real estate giant Evergrande was liquidated, unable to reach agreements with creditors over its staggering debts exceeding $... 5973
Current Account Oct 09 Hyper-personalisation is changing the banking experience The banking industry is using AI and data strategies to meet customer preferences focusing on digital culture, secure operations, and partnerships to ... 7928
Current Account Sep 13 LHB bridges investment and advisory services gap for younger customers Despite being a small bank, Thailand’s LH Bank has become a prominent player in investment and advisory services for the young, digital-savvy and af... 8720
Current Account May 25 Access Bank forges a niche in Nigerian market through digitalisation As part of its digital transformation, Access bank made significant investments in its infrastructure to upscale its banking offerings, including mode... 7569
Current Account May 16 GoTyme introduces ‘supermarket banking’ to underserved markets in the Philippines Tyme Group plans to replicate its digital banking business in South Africa throughout the Philippines with the launch of GoTyme Bank, a joint venture ... 10429
Current Account May 12 CBDC and regulated digital currencies to ensure resilience and ‘singleness’ of money Four leading central bankers of a plenary panel weighed in on the characteristics of CBDC, tokenised assets and stablecoins, airing diverse views arou... 6471
Current Account Mar 31 SVB failure brings into sharp focus the importance of asset and liability committees In the wake of the collapse of Silicon Valley Bank, we look at the role of an asset and liability committee at a bank and the lessons that can be lear... 7058
Current Account Mar 17 US Treasury promises full access to SVB deposits, no bailout US financial regulators have announced damage-control measures for the Silicon Valley Bank crisis. Treasury Secretary Janet Yellen promised that there... 5379
Current Account Mar 09 WISE revenue reaches $767 million, enters 2023 with Asia-relevant products Paytech provider Wise, launched 15 new partnerships and four new markets in 2022 and enters 2023 with 60 partners globally.... 8764
Current Account Dec 05 NAB hatched Hive for efficient MSME payment service National Australia Bank (NAB), one of the leading business banks in Australia, launched Hive, a merchant portal. It will invest $100 million over the ... 6838
Current Account Aug 04 Adjustment to SORA strengthens Singapore’s position in APAC The discontinuation of the London Interbank Offered Rate caused major changes in the international financial markets forcing participants and supervis... 8470
Current Account Jul 28 Sustainability-focused family offices grow rapidly in Asia More family offices have a sustainability or ESG mandate, and sustainability is a larger consideration than in the past. ... 1729
Current Account Jul 27 Sustainability-focused family offices grow rapidly in Asia More family offices have a sustainability or ESG mandate, and sustainability is a larger consideration than in the past. ... 15283
Current Account Jul 21 Former Maybank CEO Abdul Farid Alias lauded for lifetime industry achievements and contributions Industry veteran, stalwart and recently retired CEO of Maybank Abdul Farid Alias was honoured for his career achievements and contributions to the fin... 5081
Current Account Jul 20 TPBank redefines customer experience through multiple interconnected digital ecosystems TPBank has developed digital ecosystems in collaboration with fintech and tech startups to have a better customer engagement and experience. The bank... 8745
Current Account Mar 25 Private capital supports humanitarian aid in Ukraine While governments are donating billions of dollars in cash or equipment to support Ukraine, private capital from large and small donors alike has a cr... 5566
Current Account Mar 23 Can Europe wean itself off Russian oil and gas? Russia’s attack on Ukraine has cast a shadow on the climate change agenda. Europe has been shaken by the skyrocketing oil prices and is left scrambl... 7375
Current Account Mar 23 Can Europe wean itself off Russian oil and gas? Russia’s attack on Ukraine has cast a shadow on the climate change agenda. Europe has been shaken by the skyrocketing oil prices and is left scrambl... 15975
Current Account Mar 07 DBS, OCBC and UOB achieved strong financial performance in 2021 DBS Bank (DBS), Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) gained strong financial results in financial year 2021 as th... 15892
Current Account Mar 03 Russia-Ukraine crisis exacerbates supply chain disruption As the West announces sanctions over Russia’s actions in Ukraine, global supply chains, particularly related to energy and commodities from the coun... 26098
Current Account Mar 03 SWIFT has yet to disconnect Russian banks from network Despite widespread media reporting of US and Western sanctions on seven Russian banks, SWIFT has yet to disconnect any of them from its network. It wi... 5618
Current Account Feb 24 EU leaders condemn Russia's attack on Ukraine as they line up further sanctions EU leaders, Charles Michel and Ursula von der Leyen, jointly condemn Russian aggression against Ukraine, plan further sanctions while global markets p... 3625
Current Account Feb 24 MAS imposes higher capital charge on DBS for digital outages The Monetary Authority of Singapore (MAS) has imposed an extra capital requirement of SGD 930 million ($692 million) on DBS after the widespread digit... 24585
Current Account Feb 21 MAS draws up framework for equitable sharing of scam losses In the wake of the OCBC phishing scams and the compensation made by the bank to all affected customers, MAS decided that the industry should have a mo... 6015
Current Account Feb 01 DBS Group acquires Citigroup’s consumer business franchise in Taiwan The transaction is worth $706.6 million which covers Citi’s consumer banking franchise in Taiwan which includes 2.7 million credit cards, 500,000 de... 7684
Current Account Jan 14 UOB Group acquires Citigroup’s consumer business in four ASEAN markets The transaction covers the consumer banking business of Citi in Indonesia, Malaysia, Thailand, and Vietnam. The agreement comprises its unsecured and ... 9785
Current Account Dec 06 Grab’s value drops post merger despite leading presence in Southeast Asia Grab's listing fulfils a key milestone for the platform’s early investors. However, a 12% drop in market value on its first trading day resembles Pa... 9217
Current Account Nov 27 DBS faces supervisory action after worst online outage DBS experienced outages to its online banking services from 23 to 24 November, the second extensive disruption to its digital services in over a decad... 7984
Current Account Nov 12 Alibaba and JD.com posted record Double 11 sales of $139 billion despite tech crackdown Alibaba and JD.com continue to set new sales records during the Double 11 shopping event, although growth decelerated amid China’s slowing economy a... 7643
Current Account Sep 23 Polluting companies use transition bonds to move to a greener future The commitment from high-emission companies to raise capital to fund environmentally sustainable projects is expected to bear fruit in 2021, marking t... 6140
Current Account Sep 23 Pandemic aggravates semiconductors shortage in Southeast Asia The COVID-19 pandemic has led to a shortage of semiconductors globally, accelerated by the increase in remote working and schooling arrangements, remo... 8244
Current Account Sep 20 Square to acquire AfterPay in $29 billion deal Square announced its acquisition of Australian buy now, pay later (BNPL) company, AfterPay, through a $29 billion deal. Square posted a net revenue of... 9720
Current Account Aug 02 Global exchanges ramp up efforts for a sustainable recovery The World Federation of Exchanges (WFE), a global industry group for central counterparties (CCPs) and exchanges, recently published its 7th annual su... 11007
Current Account Jul 06 BNM receives 29 applications for digital banking licences Bank Negara Malaysia has announced that it will issue five digital banking licences by next year. So far, BNM has received 29 applications. ... 14336
Current Account Jun 28 LINE and Hana Bank launch digital-only bank in Indonesia The strategic partnership between LINE and Hana Bank continues following the launch of digital banking platform LINE Bank in Indonesia. Following the ... 16465
Current Account Jun 21 Private equity record-high ‘dry powder’ to be invested in ESG Global private equity dry powder reaches record high amid investors’ increased ESG enthusiasm. Private equity (PE) firms are better positioned to do... 11521
Current Account Jun 19 Kazakhstan prioritises non-cash payment as it works with BIS to launch digital tenge Kazakhstan has started a public consultation for the launch of a central bank digital currency (CBDC).... 14236
Current Account Jun 16 Global remittances fell smaller than expected 2.4% in 2020 as economies recover says World Bank Despite 2020 being a difficult year for most economies, some countries’ remittance flows have proven more resilient than expected during the COVID-1... 17238
Current Account Jun 10 Gates’ divorce and the road ahead for the foundation The shocking announcement of divorce made by Bill and Melinda Gates after 27 years of marriage sent a wave of speculation and uncertainty about their ... 8250
Current Account Jun 01 Alibaba incurs $1.17 billion net loss in Q4 after record-high antitrust fine Alibaba posted a quarterly net loss for the first time since 2014 mainly due to the anti-monopoly fine slapped by the regulator in March. Tighter regu... 8164
Current Account May 21 Countdown to COP26: Are banks green or still grey in the fight against climate change? The world’s 60 largest banks from Europe, Asia and North America continue to funnel nearly $3.8 trillion into fossil fuel projects from 2016 to 2020... 3070
Current Account May 21 Countdown to COP26: Are banks green or still grey in the fight against climate change? The world’s 60 largest banks from Europe, Asia and North America continue to funnel nearly $3.8 trillion into fossil fuel projects from 2016 to 2020... 11283
Current Account May 20 Singapore banks' 1Q 2021 results reflect improving economic conditions Singapore’s three major commercial banks, DBS, OCBC, and UOB, reported improved financial results for the first quarter of 2021... 7491
Current Account May 12 European Commission adopts three new measures to strengthen sustainable finance initiatives Determined to make Europe the first climate-resilient continent by 2050, the European Commission presented a package of new proposals that more granul... 8130
Current Account May 12 European Commission adopts three new measures to strengthen sustainable finance initiatives Determined to make Europe the first climate-resilient continent by 2050, the European Commission presented a package of new proposals that more granul... 5231
Current Account May 07 Digital currencies gain momentum in US and China The largest US cryptocurrency platform goes public and China's digital renminbi testing speeds up... 16523
Current Account May 05 Alibaba latest big tech to face antitrust actions China’s State Administration for Market Regulation (SAMR) imposed administrative penalties on Alibaba for its antitrust activities in the online ret... 6001
Current Account May 04 Credit Suisse and Nomura make same-day equity trade settlement on Paxos DLT platform There has been a number of proof-of-concepts and tests of blockchain or distributed ledger technology in financial markets to improve efficiency, accu... 8191
Current Account Apr 26 Citi exits consumer banking to grow Asia wealth management business to $450 billion by 2025 US multinational investment bank and financial services company Citi plans to shut down its consumer banking operations in 13 countries to refocus on ... 10167
Current Account Apr 26 Central bank proposes domestic card scheme for South Africans The South African Reserve Bank published a consultation paper that looks into the possibility of setting up a first-ever domestic card scheme. Detract... 8567
Current Account Apr 26 Credit Suisse suffers $4.8 billion loss after Archegos collapse The multi-billion dollar losses announced by Credit Suisse and potentially more from other global banks in the Archegos collapse are clear signs that ... 17928
Current Account Apr 26 Archegos collapse: Perils that lurk beneath an unsupervised family office The multi-billion dollar losses announced by Credit Suisse and potentially more from other global banks in the Archegos collapse are clear signs that ... 21534
Current Account Apr 16 Grab to go public in US via $40 billion SPAC Grab is set to debut on the US market following its announcement to go public through its partnership with Altimeter.... 8664
Current Account Apr 16 Pinduoduo becomes China’s largest e-commerce company Chinese e-commerce player Pinduoduo revealed in its latest report it recorded over 788 million annual active users, surpassing Alibaba’s 779 million... 15460
Current Account Apr 15 73 fund managers join the net zero initiative which represents $32 trillion of global assets The amount of assets has tripled under the net zero asset managers initiative which now has 73 global signatories. It accounts for one third of the gl... 10606
Current Account Apr 15 73 fund managers join Net Zero Initiative The amount of assets has tripled under the net zero asset managers initiative which now has 73 global signatories. It accounts for one third of the gl... 1841
Current Account Apr 08 Mergers and acquisitions more than tripled in Asia Pacific as China opens up The Asia Pacific will likely remain an active place for mergers and acquisitions in the financial sector in 2021 due to stronger post-pandemic recover... 8514
Current Account Apr 01 Revolut moves into US and UK online banking race Fintech startup Revolut has applied for a banking licence in the US and UK in a bid to make inroads into the online banking business in the two econom... 7913
Current Account Mar 29 Top Indonesian banks’ net profit slid 39% as bad loans rose The financial results of BUKU IV banks, the top banks by core capital in Indonesia, weakened amid the COVID-19 crisis. Banks experienced a contraction... 10773
Current Account Mar 29 DBS Private Bank commits more than 50% of AUM to sustainability investments Joseph Poon, group head of DBS Private Bank, shared expansion plans for the bank’s sustainability portfolio that is committed towards long term posi... 4732
Current Account Mar 29 DBS Private Bank commits more than 50% of AUM to sustainability investments Joseph Poon, group head of DBS Private Bank, shared expansion plans for the bank’s sustainability portfolio and commitment towards long term impact ... 13080
Current Account Mar 23 StashAway’s Ferrario: “We grew 300% amid pandemic, 20% AUM from high net worth clients” Michele Ferrario, co-founder and CEO of StashAway, a Singapore-based digital wealth management fintech, shared how the company is differentiating itse... 10531
Current Account Mar 23 Digital-only bank Tonik launches in the Philippines Tonik, one of Southeast Asia’s first digital-only banks, has officially launched in the Philippines, the country’s first neobank... 11035
Current Account Mar 22 Coupang raises $4.6 billion in biggest US IPO this year Coupang has raised $4.6 billion making it one of the biggest share offering by an Asian company on a US exchange... 6636
Current Account Mar 15 LINE BK tops two million users in Thailand LINE BK, the first social banking platform in Thailand, has exceeded two million users within four months from its launch in October 2020. LINE BK reg... 10219
Current Account Mar 10 Funding Societies’ Teo: “We brought our cash burn down by about 50%” Kelvin Teo, group CEO of Funding Societies, shares key challenges faced during the pandemic and the initiatives needed to address growing credit risks... 15361
Current Account Mar 10 Global Payments Report: Digital wallets and BNPL drive ecommerce payments The use of digital wallets has accelerated amid the pandemic and exceeded cash-based transactions for in-store payments for the first time, according ... 12370
Current Account Mar 04 Bank of Ayudhya partners Security Bank to tap Philippine consumer finance market Thailand’s Bank of Ayudhya (Krungsri) is set to join Security Bank to infuse $62 million in fresh capital for the expansion of its consumer finance ... 7072
Current Account Mar 02 HSBC Holdings chooses Asia to accelerate business growth after plans to sell its US retail business HSBC Holdings is looking to focus capital from its underperforming businesses in Europe and the United States and invest $6 billion in Asia over a per... 10635
Current Account Feb 23 Mastercard and Island Pay launch CBDC linked prepaid card in the Bahamas Mastercard and Island Pay launched a prepaid card which allows users to transact using the Central Bank of The Bahamas issued digital currency - Sand ... 8290
Current Account Feb 23 Top Indian banks increase investments in technology India’s financial payments and banking industry is expected to invest more on new technologies and improve existing infrastructures and capabilities... 9027
Current Account Feb 22 WFE 2020 Market Highlights: “Global exchanges hit new highs amid disruptive events and pessimistic forecasts” WFE has just published its latest market highlights report that studied the impact of the events of 2020 on markets across capitalisation, listed comp... 7096
Current Account Feb 17 Payoneer goes public via $3.3 billion SPAC route Global payment platform Payoneer and FTAC Olympus Acquisition Corp announced they have agreed on a merger that is expected to close in the first half ... 4059
Current Account Jan 07 $18 billion Gojek-Tokopedia merger brewing after talks with Grab hit a snag Tokopedia and Gojek are reportedly in merger discussion ahead of a planned public listing in Indonesia and the United States... 7642
Current Account Dec 04 Grab-Singtel, SEA Group, ANT and Chinese consortium win new digital bank licences in Singapore After a COVID-19 led delay, the Monetary Authority of Singapore finally announced the winners of four of five digital banking licences that it planned... 10612
Current Account Nov 11 Alibaba’s Singles Day breaks record within minutes of launch Alibaba achieved another record-breaking sales of RMB498.2 billion ($74.1 billion) in total gross merchandise volume for its 11-day shopping festival ... 6955
Current Account Nov 03 ANT Group's record breaking $34.5 billion IPO hits regulatory snag ANT Group's record breaking $34.5 billion dual listing in Shanghai and Hong Kong has been suspended as senior management team including founder, Jack ... 4389
Current Account Oct 28 Ant Group sets record with $34 billion IPO Ant Group’s dual listing in Hong Kong and Shanghai, shunning New York, is the world’s largest and has seen overwhelming response ... 5816
Current Account Oct 23 Shopee scales its digital-first business as online shopping becomes the new normal The growth of e-commerce during the COVID-19 pandemic presented an opportunity for Shopee to expand its services and drive the digital economy in Sout... 20006
Current Account Sep 17 Standard Chartered's Kumar: “We are eliminating unjust bias for more resilient AI models” Financial institutions are exploring new initiatives for greater transparency in AI owing to concerns regarding potential bias and fairness in its dec... 7632
Current Account Aug 14 Grab financial expands into the consumer ecosystem through micro investment and loans Grab is making foray into the micro investment, consumer loans and pay later products while expanding its insurance services to strengthen its reach a... 6181
Current Account Aug 04 Greater engagement among exchanges on ESG disclosure and products Nandini Sukumar, CEO, The World Federation of Exchanges (WFE), shares the results of its sixth annual sustainability survey that showed increased enga... 2864
Current Account Aug 04 Greater engagement among exchanges on ESG disclosure and products Nandini Sukumar, CEO, The World Federation of Exchanges (WFE), shares the results of its sixth annual sustainability survey that showed increased enga... 11605
Current Account Jul 31 Former HKMA chief: “Weaponisation of finance poses substantial risk to US” Former HKMA chief Joseph Yam discusses the implications of US-China relations on Hong Kong as an international finance centre, the removal of the terr... 8367
Current Account Jul 27 International alliance introduces new universal payments ID An international alliance of over 40 blockchain, cryptocurrency, finance, payment and charitable organisations has launched an open-source unique paym... 17560
Current Account Jun 21 Private equity record-high ‘dry powder’ to be invested in ESG Global private equity dry powder reaches record high amid investors’ increased ESG enthusiasm. Private equity (PE) firms are better positioned to do... 4751
Current Account Apr 12 Santander’s Botin calls for European solidarity to fight pandemic Group executive chairman of Banco Santander, Ana Botín, called on Europe to lead a coordinated response to the COVID-19 crisis with greater support f... 11745
Current Account Nov 14 Alibaba’s Singles’ Day sales top $38 billion, a 26%-increase from last year Alibaba’s Singles’ Day, the world’s biggest shopping festival, brings in a record of $38.4 billion this year as sales hit $1 billion in the firs... 8984
Current Account Oct 24 Gojek founder Nadiem Makarim quits CEO position to work for Indonesian government Nadiem Makarim, Gojek founder and CEO, joins Indonesian President Joko Widodo’s cabinet as the minister of education and culture. Senior executives ... 11338
Current Account Sep 17 Swift gpi cross-border payments go instant Consumers today demand instant services and results, prompting banks to find solutions that will address those needs. With the help of the global paym... 40854
Current Account Sep 05 86 400 introduces mobile-first bank in Australia to fully open to the public The full banking license for 86 400 represents a significant milestone for the neo-bank on the path to broader public launch. The bank, whose name is ... 11098
Current Account Apr 17 Standard Chartered Bank looks to sustainable investments for competitive edge advantage While the focus on sustainable investing enables deeper engagement with clients, it also requires a very different conversation and the bank has had t... 6525
Current Account Mar 29 SGG Group emerges as IQ-EQ in global rebranding exercise SGG Group, the global investor services group which has over the past two years acquired five leading industry companies to achieve its global growth ... 11373
Current Account Mar 27 TradingScreen launches QUO, a new cloud based workflow solution for wealth managers US based order and execution management systems provider TradingScreen recently launched a ‘software as a service’ based platform for trade manage... 5909
Current Account Mar 06 SGG ponders multi-brand global expansion strategy Recent major acquisitions help Luxemburg-based investor services and fund administrator firm, SGG Group, to expand across the world... 8098
Current Account Mar 06 SGG ponders multi-brand global expansion strategy Recent major acquisitions help Luxemburg-based investor services and fund administrator firm, SGG Group, to expand across the world... 6300
