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Category: Finance

Retail Asia25/10/2021
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Finance

HSBC Profits Surge From More Released Loan Loss Reserves

2min0
A continued reduction of credit loss provisions fuelled HSBC’s pre-tax profits in the third quarter to comfortably beat analyst expectations. HSBC registered $5.4 billion of pre-tax profits in the third quarter, according to its latest earnings report, marking a 76 percent year-on-year growth. This marked significant outperformance compared to analysts’ forecasts of $3.78 billion, according […]
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Retail Asia25/10/2021
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Finance

SGX Opens Offshore Office in India

1min0
The office will kick-start SGX India Connect IFSC, a special purpose vehicle that will facilitate SGX’s upcoming connection with India’s National Stock Exchange (NSE). Singapore Exchange (SGX) has opened the SGX-International Financial Services Centre (IFSC) office in India’s Gujarat International Finance Tec-City (Gift City), according to a report on Friday. SGX will also be launching […]
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Retail Asia25/10/2021
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Finance

DBS Appoints Chief Risk Officer

2min0
A career DBS banker has been named chief risk officer for the Singapore lender, replacing Tan Teck Long. Soh Kian Tiong has been named chief risk officer (CRO), according to a statement, reporting to DBS chief executive Piyush Gupta. In addition, Soh will also be accountable to the board risk management committee as well as join as […]
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Retail Asia22/10/2021
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Finance

Techcombank profits soar

1min0
Vietnam’s top private lender, Techcombank, reported a 59.6 percent rise in pre-tax profits for the first nine months of 2021 to VND17.1 trillion ($737.1 million). Loans outstanding were up nearly 16 percent for the year at VND321 trillion. The bank’s bad debt ratio was 0.57 percent, higher than at the beginning of the year but […]
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Retail Asia21/10/2021
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Finance

PayPal preparing US$45 billion bid for Pinterest

3min0
PayPal has made an offer to buy digital pinboard site Pinterest for US$45-billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between fintech and social media companies in e-ecommerce. The per-share price would represent a 26% premium to Pinterest’s closing price of $55.58 on Tuesday. PayPal plans to finance […]
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Retail Asia21/10/2021
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Finance

Deutsche Bank Adds Greater China Wealth Vet from HSBC

1min0
Deutsche Bank has hired a former HSBC executive as a managing director in its wealth management unit. Tse Yi-Mun joins Deutsche Bank Wealth Management as a managing director and group head for North Asia, according to a statement. Based in Singapore, she reports to North Asia head of wealth management Kanas Chan. Tse has 23 years of […]
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Retail Asia21/10/2021
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Finance

UBS Strengthens Australasian Equities and Research Unit

2min0
UBS has hired four new executives and promoted two others for its equities and research team in Australia and New Zealand. John Storey joins as a banks analyst from J.P. Morgan in South Africa and Richard Schellbach joins from Citi in London as an equity strategist, according to UBS. Storey and Schellbach were hired to replace Jonathan Mott who left to join […]
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Retail Asia21/10/2021
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Finance

Ripple and Tranglo Expand Partnership

2min0
Its growing cooperation follows Ripple’s acquisition of a 40 percent stake in Tranglo to scale the footprint of RippleNet in APAC and beyond. Tranglo has launched its first live On-Demand Liquidity (ODL) service on RippleNet to enable instant and low-cost cross-border payments in the Philippines, with plans to introduce more ODL corridors in the months […]
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Retail Asia20/10/2021
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Finance

VN-Index slips in narrow band

2min0
Vietnam’s benchmark VN-Index fell 0.01 percent to 1,395.33 points Tuesday, continuing along with a narrow band near the 1,400-range resistance. Last-minute selling pressure pulled the index down by 0.2 point. It has been fluctuating within a three-point margin for the past six sessions, after surging to the 1,390-range on Oct. 11. Trading value on the […]
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Retail Asia20/10/2021
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Finance

Hong Kong and Macau Announce Wealth Connect Bank List

2min0
China’s two special administrative regions announced their list of eligible banks to participate in the cross-border wealth management scheme. In Hong Kong, HSBC, Standard Chartered, Citi and more were amongst those on the list of 19 approved banks, according to an announcement yesterday from the city’s central bank. Three banks – Bank of East Asia, DBS and […]
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Retail Asia19/10/2021
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Finance

UBS Asset Management Appoints Australasia Country Head

1min0
UBS Asset Management has named a new country head for Australia and New Zealand. Alison Telfer has been named to the role, according to a report by the Australian Financial Review. She has 20 years of asset management experience, most recently with Blackrock where she was its chief operating officer, general counsel, and head of public policy […]
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Retail Asia15/10/2021
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Finance

Deutsche Bank Hires Ex-Bank of Singapore MD

1min0
A former managing director from Bank of Singapore has joined Deutsche Bank’s wealth unit in Singapore. Deutsche Bank Wealth Management hired Faye Lee as a managing director, according to a statement, tasked with covering ultra-high net worth clients in Southeast Asia. Based in Singapore, she joins a team led by Southeast Asia head Shang-Wei Chow and reports to group […]
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Retail Asia14/10/2021
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Finance

StanChart Enters BNPL Space With Atome Investment

1min0
The bank has entered a 10-year multi-product strategic partnership with Buy Now Pay Later (BNPL) brand Atome to deliver a wide range of financial services to consumers and merchants across key markets in Asia. The partnership, which aims to deliver mobile-first financial services for consumers across Asia, includes a planned $500 million financing to support Atome […]
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Retail Asia13/10/2021
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Finance

UOB Launches Platform for Energy Efficiency Projects

2min0
The platform will be launched first in Singapore, with subsequent roll-outs in Malaysia, Thailand, and Indonesia. UOB is launching an integrated financing platform U-Energy to drive the development and adoption of energy efficiency projects for buildings and homes, as part of its Smart City Sustainable Finance Framework. The bank highlighted that buildings and construction projects […]
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Retail Asia13/10/2021
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Finance

Ex-Hang Seng CEO Passes Away

1min0
The former chief executive of Hang Seng reportedly passed away last week at the age of 57. Louisa Cheang Wai-man passed away last week, according to a statement from Hang Seng. The bank first disclosed that Cheang was undergoing treatment for a medical condition in July 2020 before she took a three-month leave of absence in […]
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Retail Asia11/10/2021
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Finance

Call For Rise in Banking Salaries

2min0
Bank employee representatives have set their demands for this fall’s wage negotiations. Their objective is to raise salaries at the lower end. The Swiss Bank Employees Association is advocating a general wage increase and raise of at least 2.2 percent, or 300 francs a month for bank employees, according to a statement Thursday. The call […]
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Retail Asia08/10/2021
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Finance

UOB and ADDX Partner on Sustainability-Linked Bond

2min0
This initiative comes amid a rise in the use of digital securities to enhance the efficiency of bonds and other fixed-income instruments. UOB and ADDX have completed the digitization and digital custody of a S$50-million portion of the $675 million sustainability-linked bonds recently launched by Sembcorp Industries, according to an announcement on Thursday. The ten-and-a-half-year […]
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