China
Citic Group’s liquidity ‘sufficient’ for Huarong Financial buyout
By 2023, cash in hand of $3.7b was enough to cover the acquisition.
Ant Group, Mastercard launch International Consumer Friendly Zones program in Shanghai
It will improve the travel experience for global visitors and boost local businesses in China.
China’s measures to fix property slump raises risks for banks
Lower down payments may embolden buyers to walk away, analysts warned.
Chart of the Week: 8 in 10 Chinese people use mobile wallets
Alipay and WeChat pay each have 1 billion users globally.
APAC’s Top 20 banks' combined revenue up 4.3% in 2023
Japanese banks were the biggest winners whilst Chinese banks’ total revenue dipped.
Chinese banks’ net profits down 0.81% in Q1
Fees contracted for the first time in 5 years a quarter earlier.
Ant Int'l inks MOU to ramp up Saudi Arabia expansion
The Ministry of Investment of Saudi Arabia formally expressed support for Ant’s plans.
South Africa’s Absa Group expands to China
Absa Group will provide general advisory services to clients based in China.
Chinese banks dominant whilst Japan, South Korean banks’ assets falter
Australian and Singaporean banks’ assets remained steady, S&P’s study showed.
Alipay’s labor day outbound travel transactions up 77% in 2024
East Asia and Southeast Asia were the most preferred destinations.
What fuels China's digital economy surge
Rising incomes have led to higher consumer demand for seamless shopping experiences.
Depositors ‘flight to safety’ to benefit China Merchants Bank
Focus on wealth and deposits over loans has boosted its liquidity.
China banking focuses on credit structure optimisation
PwC said the sector needs to continue to implement strategic initiatives.
Bank of Singapore HK names ex-chief of Credit Suisse HK as its new chief executive
Rickie Chan succeeds Cindy Wong, who will serve as advisor until 31 May.
China boosts financial services to advance new industrialisation
Insurance funds should provide long-term stable financial support.
Revised rules bolster car loans but with influx of lower quality borrowers
The asset quality of auto finance companies will be tested.
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CIMB Niaga leads the way in captivating Indonesia’s youth
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The bank’s digital solutions are winning over younger generations with 3.2M mobile users and 96% digital transaction rate in 2023.
The bank’s digital solutions are winning over younger generations with 3.
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