Category: Finance

Retail Asia12/05/2021
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4min0
Seven banks are in the list of Top 10 most profitable listed companies in Q1, recording increases in pre-tax profits. Topping the list are two state-owned lenders Vietcombank and VietinBank. The former recorded VND8.6 trillion ($373.9 million) in pre-tax profits, up 65 percent year-on-year, while the latter posted VND8 trillion, up 171 percent. Another state-owned […]

Retail Asia12/05/2021
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2min0
Digital channels dominated HSBC’s retail wealth management business in Asia, making up a dominant majority of sales in the unit. Nearly 80 percent of HSBC’s retail wealth sales were conducted through its digital channels, according to a statement from the bank. The strong adoption is driven by a multi-billion dollar push to expand HSBC’s wealth […]

Retail Asia12/05/2021
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2min0
The world’s largest private bank is reportedly tiptoeing into crypto for wealthy clients. UBS is the latest traditional bank to be backed into the nascent asset class. Zurich-based UBS is exploring several alternatives for offering digital currency investments to the wealthy private clients of its $4.31 trillion private banking arm, citing sources familiar with the […]

Retail Asia12/05/2021
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2min0
The weighty trade group is tapping Marcel Rohner, who ran UBS during the financial crisis, as its next chairman. Marcel Rohner will succeed long-standing Swiss Bankers Association Chairman Herbert Scheidt, effective mid-September, the Basel-based lobby said in a statement on Tuesday. The 57-year-old Rohner has sat on the SBA’s board for the past three years. He is better known as the […]

Retail Asia11/05/2021
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3min0
The quarter’s earnings were driven by broad-based income growth and lower allowances. OCBC Bank recorded a net profit of S$1.5 billion ($1.13 billion) for the January-March period, a jump of 115 percent from the same period last year (S$698 million), and 33 percent higher than the preceding quarter (S$1.13 billion), according to financial results posted on Friday. The bank […]

Retail Asia11/05/2021
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2min0
UOB is the latest bank to express interest in potentially acquiring Citi’s retail assets in the Asia Pacific region. UOB chief executive Wee Ee Cheong said that the Singapore lender would provide more clarity on acquisition plans after Citi release more details later this month. As long as it’s a strategic fit, is at the right […]

Retail Asia11/05/2021
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2min0
Digital channels dominated HSBC’s retail wealth management business in Asia, making up a dominant majority of sales in the unit. Nearly 80 percent of HSBC’s retail wealth sales were conducted through its digital channels, according to a statement from the bank. The strong adoption is driven by a multi-billion dollar push to expand HSBC’s wealth […]

Retail Asia10/05/2021
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2min0
The bank is seeing more traction for its crypto assets business, which provides cryptocurrency trading and digital custody for accredited investors. Daily trading value on DBS’ digital exchange has grown tenfold since its launch to reach $30-40 million, with an investor base of 120 accredited investors and some S$80 million in digital assets under custody, DBS chief Piyush Gupta said […]

Retail Asia10/05/2021
OCBC-1024x681.jpg
3min0
The quarter’s earnings were driven by broad-based income growth and lower allowances. OCBC Bank recorded a net profit of S$1.5 billion ($1.13 billion) for the January-March period, a jump of 115 percent from the same period last year (S$698 million), and 33 percent higher than the preceding quarter (S$1.13 billion), according to financial results posted on Friday. The bank […]

Retail Asia06/05/2021
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3min0
The bank’s quarterly earnings surged on the back of strong fees, trading, and investment income as business momentum improved. UOB’s earnings grew to S$1 billion ($750 million) in the first quarter of 2021 – up 46 percent from the previous quarter’s S$688 million and up 18 percent from the same period last year, according to financial […]

Retail Asia05/05/2021
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1min0
The bourse’s web pages were discovered to be progressively inaccessible across different network providers from 4:30 p.m. SGT on Tuesday. Singapore Exchange’s website and web-based applications were restored on Tuesday night, following an outage that took place in the afternoon. Its case was a domain name system (DNS) issue, SGX said on Twitter, noting that […]

Retail Asia05/05/2021
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2min0
Australian & New Zealand Banking Group is open to potential acquisitions for domestic growth, including retail assets from Citigroup’s retreat. Chief executive Shayne Elliot said that ANZ was in a really strong position to seek growth opportunities, according to a report. Elliot did not rule out potential acquisitions like retail assets from Citi, which recently […]

Retail Asia05/05/2021
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2min0
Global payments giant Mastercard is in talks with various central banks with an eye on opportunities in central bank digital currencies. Amongst the central banks in discussion with Mastercard is the People’s Bank of China, according to a report citing APAC co-president Ling Hai. Circulation of central bank digital currencies (CBDC) outside of their home […]

Retail Asia04/05/2021
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2min0
HSBC’s asset management arm appoints a new head of credit research in Asia amid an ongoing expansion across its product range and distribution capabilities in the region. HSBC Asset Management appoints Seok Poh Yeoh as head of credit research for Asia, according to a statement, effective immediately. In her Hong Kong-based role, Yeoh reports locally to head […]

Retail Asia04/05/2021
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4min0
Investment platforms offering quick, handsome profits are mushrooming in Vietnam as fraudsters look to take advantage of gullible social media users. Over 700 reports have recently been filed with HCMC police by thousands who have been tricked by smartphone app Coolcat. The extent of fraud is estimated at VND200 billion ($8.7 million), the police said. This […]

Retail Asia03/05/2021
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2min0
HSBC’s asset management arm appoints a new head of credit research in Asia amid an ongoing expansion across its product range and distribution capabilities in the region. HSBC Asset Management appoints Seok Poh Yeoh as head of credit research for Asia, according to a statement, effective immediately. In her Hong Kong-based role, Yeoh reports locally to head […]


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