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Retail Asia24/06/2022

Zurigg-based crypto lender Nexo is looking to take advantage of the consolidation in the crypto world. With help from a US bank, it sees itself as financially well equipped to take over the assets of struggling competitors. In what is increasingly looking like a repeat of the consolidation of companies following the burst of the […]

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Retail Asia27/12/2019

United Overseas Bank is buying more shares in troubled Chinese mid-sized lender Hengfeng Bank with a subscription of 1.86 billion shares for a sum of 1.86 billion yuan (S$360.4 million). The purchase comes as part of a capital-increase exercise undertaken by Shandong-based Hengfeng Bank through private placement to raise 100 billion yuan. The move reverses a […]

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Retail Asia13/12/2019

Chinese smartphone giant Xiaomi expands its footprint in India – its largest overseas market – with the launch of online lending services. The firm will connect users with financiers, offering quick access to loans of up to 100,000 rupees ($1,400), Xiaomi’s India head Manu Jain said, according to a report. The online lending solution, «Mi Credit» […]

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Retail Asia19/09/2019

DBS has issued a S$250 million ($180 million) three-year loan to real estate group City Developments Limited with interest rate discounts linked to the firm’s sustainability-related performance. The loan will be used for general working capital and corporate funding focused on improving CDL’s property quality, performance and method of building. Interest rate discounts can be […]

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Retail Asia14/08/2019

Unlike traditional banks which could take days to approve loan applications, Jack Ma’s online bank usually takes a few minutes. At Jack Ma’s MYbank operating in China, borrowers only need a few taps on their smartphones to receive cash almost instantly, if they are approved. The whole process takes three minutes and involves zero human bankers. […]

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Retail Asia09/08/2019

The export financing sustainability-linked loan is the first of its kind in Indonesia. DBS Bank Indonesia has signed a sustainability-linked export financing loan with wooden door manufacturer PT Sumatera Timberindo Industry (STI), the bank said in a press release on Wednesday. DBS said the loan is evaluated based on a target of obtaining timber and raw […]

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Retail Asia13/05/2019

State-owned bank offers green Silk Road bond in three currencies one week after a similar exercise by rival Bank of China. Acting through its Singapore branch, the Industrial and Commercial Bank of China (ICBC), the world’s biggest bank by assets, has issued its first green bond offering in three currencies totalling $2.2 billion equivalent, Reuters reported […]

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Retail Asia03/05/2019

HÀ NỘI The State Bank of Vietnam (SBV) has assigned a credit growth limit to each commercial bank in 2019, with priority given to those who met Basel II’s capital safety and risk management standards ahead of schedule. According to the current regulation, the SBV sets a credit growth limit for the entire year for […]

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Retail Asia09/04/2019

The new digital platform, which offers lower lending rates and encourages prompt debt repayment, could compete with banks’ personal loan facilities. Singapore fintech company Credit Culture has announced the launch of its moneylending platform, making it the first licensee from a pilot by the Ministry of Law for new business models in the personal loans industry, to […]

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Retail Asia11/01/2019

Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it […]

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Retail Asia23/10/2018

Early this month, EVN Finance, a subsidiary of national power utility, Vietnam Electricity, launched a consumer lending program called Easy Credit in Ho Chi Minh City. Customers with a monthly minimum income of VND4.5 million ($194) in five southern localities – Ho Chi Minh City, Dong Nai, Binh Duong, Long An and Vung Tau – […]

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Retail Asia15/10/2018

It is easy these days to find a site for online lending and borrow quickly with simple procedures. Companies have entered the peer to peer (P2P) online lending realm that directly connects borrowers, whether individuals or companies, with lenders, and get up to 2,000 customers a day, Can Van Luc, chief economist of the state-owned […]

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Retail Asia17/02/2017

Funding Societies has launched FS Bolt – a mobile application designed to provide flexible working capital loans for Singapore SMEs. Complementing the government’s financing programs for SMEs, FS Bolt offers loans with quantum up to S$20,000 ($14,000) for companies incorporated in Singapore. Available on both iOS and Android devices, the application process takes two minutes […]

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Retail Asia03/11/2016

The Land Bank of the Philippines (LANDBANK) has introduced a new mobile lending program for the purchase of essential drugs. LANDBANK, a government financial institution, has teamed up with branded generic drugs company RiteMed to expand the use of its electronic salary loans program. The LANDBANK Mobile Loan Saver (LMLS) launched in September 2014 and […]

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Retail Asia24/10/2016

HSBC plans to inject $1 billion of additional capital into its combined Indonesian business with PT Bank Ekonomi Raharja, an official at the Indonesian financial regulator, Ariastiadi, said on Thursday. HSBC separately said it would integrate its Indonesian business with Bank Ekonomi, but a bank spokeswoman in Indonesia declined to comment on the planned capital […]

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