In addition to leading their institutions to support customers and communities, some bank bosses are also taking pay cuts or making charitable donations to support the fight against the COVID-19
In addition to leading their institutions to support customers and communities, some bank bosses are also taking pay cuts or making charitable donations to support the fight against the COVID-19
Chinese banks’ mortgage loan growth dropped the most in 2017 and will continue to be affected by property cooling measures and relatively tight liquidity conditions. Hong Kong banks’ mortgage loan growth, on the other hand, increased, but they are not expected to maintain it due to tough operating conditions.
As demand for sustainable products rises, stakeholders including consumers, investors, and regulators are pushing manufacturers, suppliers and lenders to incorporate ESG metrics in evaluating the performance of their supply chains.
At the International Heads of Retail Finance Virtual Meeting on 28 August 2020, leaders from over 22 institutions in Asia Pacific, the Middle East and Africa, discussed key trends and issues impacting the industry. The rise of digital only banks, integrating lifestyle and finance through digital platforms, and improving customer experience were at the forefront of the dialogue.
While fintechs may take some market share away in specific niches, the partnerships, analytics, and value-add that leading banks are developing can keep head of the game. Banks that fail to keep up could lose a significant share of their SME business
Asia Pacific banks saw asset growth slow down to 7.9% in FY2021 from 10.7% in FY2020, while 85% of banks posted higher net profit, reflecting economic recovery from the COVID-19 pandemic
Banks are forward-looking, leaving the pandemic behind and helping clients to expand in the region by digitising operations and embarking on sustainability journeys
Indonesia’s Bank Central Asia, DBS Singapore, South Korea’s Toss Bank, and China’s Alipay were voted the Most Recommended Retail Bank, Most Selected Main Bank, Most Recommended Digital-only Bank and Most Recommended Platform, respectively, in the 2023 BankQuality™ Consumer Survey
Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way
China's wealth management market has the potential to surpass $100 trillion by 2025, but it needs to overcome challenges like low asset allocation, regulatory changes, and pressure on wealth managers
Thirty-seven banks held assets surpassing $1 trillion, distributed among 16 in Asia Pacific, 13 in Europe, and eight in North America, representing 51% of the top 1000 banks’ total assets; overall asset growth has decelerated, with the US and some European nations experiencing steep declines and countries like Egypt demonstrating resilience
Malaysian consumers voted Maybank as the Most Recommended Retail Bank, while Touch ’n Go emerged as the Most Recommended Platform in the latest BQS™