Tag: banks

Retail Asia07/02/2024
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3min0
Faced with difficulties that are expected to linger, large western banks are slashing costs by downsizing their payrolls and increasing the use of artificial intelligence. Deutsche Bank has said it is laying off 3,500 employees, or 4% of its workforce, to reduce costs by 2.5 billion euros (US$2.7 billion) a year by 2025. One of […]

Retail Asia04/04/2023
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1min0
More than a dozen lenders achieved bancassurance revenues of over VND1 trillion ($42,633 million) from new customers last year, according to Vietcombank Securities. Bancassurance refers to insurance products sold through banks. Premium income from new customers increased by 45% during the year, and overall premiums at by 16%. Military Bank led with more than VND2.1 […]

Retail Asia28/02/2023
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3min0
After imposing fines on large banks UBS and Credit Suisse for using unsecured communication channels, the US Securities and Exchange Commission is now aiming for another industry. Now, US fund behemoths Blackstone and Blackrock are in the sights of the US Securities and Exchange Commission (SEC), which announced months ago it wanted to investigate other […]

Retail Asia16/02/2023
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5min0
Cybercriminals who want to obtain a large amount of valuable data quickly are increasingly attacking financial institutions. Data breaches can be very expensive for banks. Credit Suisse seemingly cannot escape the negative headlines. After numerous scandals and annual results deeply in the red last year, a former employee is now making new negative headlines for […]

Retail Asia26/01/2023
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6min0
Tech giants such as Google, Meta, and Microsoft are cutting tens of thousands of jobs worldwide. Swiss financial service providers, desperate for IT talent, are now positioning themselves. We are seeing candidates with careers at the big tech groups looking for new employment,» observes Stephan Surber. This should greatly boost the active job market for […]

Retail Asia30/12/2022
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5min0
They got here late and when they did arrive, they faced fierce rivalries from strongly entrenched incumbents. And given that they have to follow all the regulations traditional banks do, they are not getting a break from regulators either. It was just a short while ago, in December 2020, after months of waiting, that the […]

Retail Asia24/10/2022
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5min0
President Xi Jinping’s report to the 20th Communist Party congress hints at more tax and regulatory measures aimed at reducing wealth disparities. In the last two decades, the Swiss wealth management sector has been forced to directly confront and contend with the vagaries of the world’s two largest economies in the world – China and the […]

Retail Asia09/10/2022
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2min0
Most commercial banks expect deposit and lending interest rates to rise in the fourth quarter this year, a survey by the State Bank of Vietnam has found. The central bank’s survey, which polled 96% of all domestic and foreign lenders in Vietnam between August 25 and September 10, found that over 59% expect rates to […]

Retail Asia06/09/2022
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7min0
Sometimes seemingly mundane insights can help in the digital age, especially since most Swiss banks are «knotty colossi,» as Google Maps co-creator Samuel Widmann finds. Can banks learn something from the US tech giant Google? A seminar at the School of Banking (FSB) in Zurich explored this question last week with  Samuel Widmann, co-inventor of Google Maps. […]

Retail Asia14/07/2022
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2min0
The MAS indicates it will continue to tighten policy to slow inflation and ensure price stability in the medium term. The Monetary Authority of Singapore (MAS) indicated in a statement published on its website Thursday that it believes it is «prudent» to take another «calibrated step to tighten monetary policy». Along with numerous other international central banks, it believes […]

Retail Asia13/07/2022
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3min0
Many Swiss retail banks want to move part of their IT to the cloud but certain practicalities are holding them back. After big banks have discovered the benefits of using the data cloud, smaller and medium-sized retail banks are starting to get to grips with cloud computing, according to a study by Lucerne University of Applied Sciences […]

Retail Asia01/03/2022
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4min0
The first Eurozone Banks get hit by sanctions while Switzerland is waiting to see if the Federal Government follows in the EU’s steps. To some degree or another, Swiss banks will not be able to escape sanctions against Russia, whether they affect corporate loans, commodity trade financing or business with wealthy clients from Russia. Switzerland’s […]

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 Asia14/04/2021
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2min0
Chinese lenders are increasingly closing down branches as online and mobile banking penetration continues to rise. Mainland lenders have closed 430 branches in the first three months of 2021, according to data from the China Banking and Insurance Regulatory Commission’s (CBIRC) annual report. This marks an accelerated reduction after the industry closed 1,300 branches in […]

Retail Asia01/03/2021
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2min0
State-owned lenders have been achieving slower credit growth than the industry average for the last five years while private banks are on the fast lane. Of the ‘Big Four’ state-owned banks, BIDV, Agribank and VietinBank recorded growth rates that were less than the industry average of 14.6 percent a year in 2016-20 period, according to […]

Retail Asia16/02/2021
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3min0
Ahead of Tesla’s launch in Singapore, DBS is has announced financing for new and used electric and hybrid cars, while a partnership with OCBC will boost the availability of electric vehicle charging points. As part of DBS’ efforts to incentivize the adoption of green practices and carbon footprint reduction, the bank is rolling out Singapore’s first […]

Retail Asia04/01/2021
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3min0
The credit market share of Vietnam’s three largest banks has fallen by 2.7 percentage points in the last two years due to liquidity constraints. The three, all state-owned and listed and the country’s largest by assets, Vietcombank, Vietinbank and BIDV, account for 34 percent of all loans outstanding, securities company VDSC said in a note […]

Retail Asia18/12/2020
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3min0
The VN-Index gained 1.11 percent to 1,066.99 points Tuesday, after seeing one corrective session, with private banking blue chips the best performers. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 296 stocks gaining and 134 losings. Total trading volume abated over 10 percent compared […]

Retail Asia17/12/2020
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3min0
Citi in Asia Pacific posted record-high net new money of $20 billion across its wealth management business in the region. This represents a 10 percent year-on-year increase, according to a statement from the bank, and pushes total assets under management across the wealth business to $238 billion with approximately one-third of billionaires in the region […]


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