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Retail Asia11/07/2022

The business of providing loans to small and medium firms is booming in Vietnam with the rise of several platforms offering more accessible credit than traditional banks. Bonbon shop, a platform that helps 35,000 grocery stores connect with over 24 major manufacturers, recently launched a credit option of up to VND200 million ($8,563) for stores […]

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Retail Asia03/08/2021

Pre-tax profit at Standard Chartered rose in the first half and beat analyst estimates, resulting in the resumption of interim dividend payments. Standard Chartered registered $2.68 billion in pre-tax profit, according to its latest first-half results, marking a 37 percent increase compared to $1.95 billion in the same period last year. The bank’s $2.55 billion in […]

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Retail Asia15/07/2021

Citigroup’s profits in the second quarter comfortably beat market estimates in part due to significantly reduced loan provisions driven by an outperforming global economic recovery. Citi posted $6.19 billion in net income for the second quarter, according to its latest results, marking a nearly six-fold increase compared to last year. Profits in the quarter exceeded […]

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Retail Asia05/07/2021

Alibaba co-founders Jack Ma and Joseph Tsai are reportedly pledging their shares in the Chinese e-commerce giant in exchange for significant loans from global banks. The two tech billionaires have pledged their shares to banks including UBS, Credit Suisse, and Goldman Sachs, according to a «Financial Times» report citing company documents. The shares pledged were […]

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Retail Asia26/04/2021

AirAsia Bhd has expanded its airasia super app to provide financial products and services under the “airasia money” banner, beginning with a partnership with financial comparison platform RinggitPlus. Through its partnership with the platform, airasia money currently provides credit card and loan application services. The financial marketplace will also allow users to obtain the best […]

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Retail Asia13/05/2020

Lazada has partnered with Southeast Asian fintech startup Alumak to provide online merchants with working capital during the Covid-19 pandemic. Business owners selling through Lazada for at least six months can apply online using their Lazada account in place of the need to submit formal paperwork, in a process that takes less than 10 minutes. […]

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Retail Asia06/04/2020

Indonesia AirAsia has been forced to halt its growth plan for this year, as a result of the coronavirus pandemic and economic challenges faced by Indonesia. The plan for 2020 was for the low-cost carrier to increase its market share by adding three new aircraft and launching new services, having recorded a 28% growth in revenue for 2019 […]

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Retail Asia06/04/2020

Airasia may have enough cash to last them for most of 2020 but it is currently seeking out a loan from the Malaysian government to cushion the impact from the challenging economic environment. The low-cost carrier’s chief executive officer Tan Sri Tony Fernandes(pic) said there was no need for bailouts and what most airlines were […]

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Retail Asia04/03/2020

OCBC customers can now apply and get approval for car loans within 60 seconds, following similar moves made by two other local banks. The faster approval process is made possible due to leveraging Singapore’s national data repository, MyInfo, and the bank’s real-time KYC (know your customer) and credit assessment system. The lender said its latest digital […]

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Retail Asia07/02/2020

Singaporean banks continue tapping into the growing sustainable finance market with the latest $44 million loans secured by Burmese developer Shwe Taung Group – the first in the country. Sole green loan advisor OCBC provided nearly $30 million with the remaining secured from UOB through the two Singaporean lenders’ Yangon branches. The $44 million loans […]

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Retail Asia03/12/2019

Vietnam has tightened rules on consumer loans, requiring a progressive decline in their ratio in the coming years. Cash loans cannot exceed 70 percent of a finance company’s total loans for consumer durables starting 2021, according to a decree issued recently by the State Bank of Vietnam (SBV). The ratio will drop to 60 percent […]

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Retail Asia01/10/2019

Lazada Philippines customers can now buy goods online and pay by installments. Called eShopaLoan, the service targets the increasing population of middle-class Filipino shoppers offering monthly installment options for purchases made via Lazada’s platform. Consumer loans range from PHP4000 to PHP20,000 (US$77 to $384) over a six-month period. EshopaLoan finances products within the PHP 5000 […]

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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 Asia04/09/2019

If you are in urgent need of money, a personal loan is the way to go. Compared to credit card finance, etc, personal finance is the best option to go for. Personal finance will provide you with a higher finance amount, longer repayment tenure, lower interest rate, etc. That is if you are eligible for […]

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Retail Asia29/08/2019

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The bank is on a recruitment spree in Hong Kong and Singapore as it hopes to increase its private banking assets by 50 percent to $100 million in the next three to five years. The U.K.-based bank will be hiring 30 to 40 private bankers per year in Hong Kong and Singapore, where it derives most […]

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Retail Asia26/08/2019

Newly elected Papua New Guinea Prime Minister James Marape announced the launch of a full investigation to confirm if the government had violated its own rules regarding a 1.2 billion Australian dollar UBS loan. The Swiss bank extended the loan (now valued at $847 million) in 2014 to purchase a key stake in energy firm Oil […]

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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 Asia26/04/2019

Vietnamese banks are struggling to recover overdue car loans since many customers mortgage vehicles bought using bank loans. Dao Minh Tuan, manager of the debt recovery department at private lender Vietnam International Bank (VIB), said 50 percent of non-performing car loans are because of this. Borrowers are supposed to get the bank’s permission before pawning […]

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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 Asia04/04/2019

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Ms. Saranya Pipoppinyo (middle), Vice President of Marketing at AEON Thana Sinsap (Thailand) Public Company Limited, together with Ms. Lapatlada Ruetivarangkoon (left), Vice President and Mr. Anirut Srirungthum (right), Vice President Business Development of Aurora Design Company Limited unveils two summer promotions for AEON Member Card and AEON Credit Card holders through the AEON Happy […]

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