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Retail Asia07/08/2019

Technology and e-commerce disruptors such as Google, Alibaba and Apple are considered the biggest threat to banks, followed by payment players and Neo-banks, says Asia’s bankers. In markets where mobile payments have already taken root, banks and payment processors are battling tech companies on two fronts. They are working to retain their own retail card and current-account […]

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Retail Asia04/07/2019

UOB has announced that it is bringing its business transformation program to Malaysia, following successful editions held in Singapore (2018) and Thailand(2019), the bank announced on Friday. The three-month-long «Jom Transformation Program» run by UOB innovation accelerator The Finlab aims to help businesses in Malaysia adopt technology to drive productivity and growth. As part of the program, they will be matched with technology partners to address their […]

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Retail Asia10/05/2019

Singapore banks will enjoy increased FX volumes going forward as the country grows as a foreign exchange (FX hub), banking heads said. «Singapore is fast evolving into a natural hub for FX in Asia with the many initiatives to promote FX trading in the region, coupled with regulatory support to encourage key market participants to set up their pricing […]

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Retail Asia03/05/2019

DBS Group has signed a cooperation agreement with China Export & Credit Insurance Corporation, adding to the list of banks that are partnering Sinosure for projects under the Belt Road Initiative. DBS Group Holdings on Monday announced that it has partnered with Sinosure, the only state-funded Export Credit Agency conducting export credit insurance business in the People’s Republic […]

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Retail Asia01/05/2019

A South Korean bank has launched a service allowing customers to use palm recognition to withdraw cash – a likely precursor to similar technology becoming available in retail stores. KB Kookmin Bank says by using palm prints, customers no longer have to use a bankbook, stamp or password. The bank explained that palm vein recognition […]

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Retail Asia15/04/2019

If you’re anxious to use Google Pay, but can’t because your bank doesn’t yet support the mobile payment service, you’ll be happy to know that Google is working hard to bring the product to as many consumers as possible. At least in the United States. We’re back with the monthly list of banks and credit unions […]

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Retail Asia09/04/2019

New entrants and increased competition brought about by challenger banks could result in revenue losses of up to 30 percent among legacy banks over the next 10 years. While digitalization can lower costs for incumbent banks by 30 to 50 percent, new competition and greater transparency in the banking market, prompted by the emergence of […]

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Retail Asia08/04/2019

The Hong Kong Monetary Authority has granted the first virtual banking licenses to three institutions. According to their business plans, these banks will launch their services within six to nine months. The three banks that received a license are Livi VB, SC Digital Solutions and ZhongAn Virtual Finance to operate in the form of a virtual […]

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Retail Asia28/02/2019

Woori Bank launched a money-transfer service linked with Chinese banks to allow its customers to readily and easily send money to people holding Chinese bank accounts. On Monday, the bank said the service will be carried out in real time. The partnered entities include the Industrial and Commercial Bank of China, the Bank of China, […]

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Retail Asia26/02/2019

Most Vietnamese banks fall short of international capital adequacy norms and have to focus on attracting foreign capital this year, Moody’s has said. The credit rating agency said in a release Monday that “the underdevelopment of the domestic capital markets” means the banks would have to look to foreign investors to meet the capital requirement […]

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Retail Asia21/02/2019

CIMB Group Holdings Bhd’s 92.5%-owned T Bank CIMB Niaga Tbk reported an audited consolidated net profit of 3.5 trillion rupiah (RM1 billion) for the financial year ended Dec 1, 2018 a 16.9% growth compared with a year ago. The bank said the improved net profit came on the back of a 13.8% increase in on-interest […]

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Retail Asia20/02/2019

Banking giant HSBC said on Tuesday that pre-tax profit rose 16% to US$19.9 billion last year with growth across its global businesses despite a “challenging external environment in the fourth quarter”. The results capped the first full year at the helm of the Asia-focused bank for chief executive officer John Flint, who has vowed growth […]

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Retail Asia18/02/2019

Four Vietnamese lenders, three state-owned and one private, are among the world’s top 500 most valuable brands this year. In an annual ranking by BrandFinance, VietinBank was ranked 242, BIDV, 307, Vietcombank, 325, and VPBank, 361. Last year, VietinBank, BIDV and Vietcombank, three major Vietnamese banks, made it to this elite list, and this year […]

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Retail Asia18/02/2019

PT Bank Maybank Indonesia Tbk’s (Maybank Indonesia) profit after tax and minority interests (patami) for the financial year ended Dec 31, 2018 surged 21.6% to a new high of Rp2.2 trillion (RM640 million) on the back of higher net interest income (NII) and continued improvement in asset quality. The bank’s profit before tax (PBT) jumped […]

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Retail Asia07/02/2019

Analysts believe that the banking sector will be able to maintain its earnings potential this year, as margin pressure is expected to ease and continued loans growth with stable asset quality. MIDF Research said while the industry’s loans growth moderated to 5.6% year-on-year (y-o-y) as at December 2018 due to moderation in business loans and […]

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Retail Asia31/01/2019

CIMB Group Holdings Bhd is finally completing its operating footprint in Asean with the launch of its banking presence in the Philippines. It has received regulatory approval from the Securities and Exchange Commission of the Philippines for its investment banking joint-venture in the country, CIMB Bancom Capital Corporation. CIMB Group CEO (group ventures and partnerships) […]

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Retail Asia30/01/2019

Maybank has made it into the world’s top 500 brands for the first time, after it was named in Brand Finance’s Global 500 Brands – the only Malaysian bank and one of two Malaysian brands to be included in this prestigious listing. Maybank achieved a brand valuation of US$4.2 billion (RM17.3 billion), a 32% increase […]

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Retail Asia29/01/2019

While profit across the banking sector grew by an estimated 40 percent last year, VietinBank, LienVietPostBank and SaigonBank have reported steep declines. The biggest surprise came from state-owned VietinBank, the country’s second biggest lender by assets, which reported a 25 percent fall in profits before tax to go out of the group of five most […]

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Retail Asia11/01/2019

Malayan Banking Bhd (Maybank) clinched The Banker’s Bank of the Year 2018 in Malaysia award with its fresh thinking on how to provide the best service quality to previously underserved consumers. In a statement, The Banker Editorial said Maybank launched HouzKEY, an innovative rent-to-own product, the first of its kind in Malaysia, recognising a gap […]

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Retail Asia09/01/2019

With Vietnamese banks reporting substantial profits last year many of their employees are expecting higher Lunar New Year bonuses. The banking sector’s overall profit before tax increased by 40 percent year-on-year, according to the National Financial Supervisory Commission. Vietcombank, the largest bank by market capitalization, said in a recent report that its consolidated pre-tax profit […]

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