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
As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.
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
Several key themes emerged amidst the many discussions by global leaders in payments, including QR code, blockchain, credit card schemes, fintech and data consolidation
Global and regional cash management banks across Asia-Pacific are making substantial investments in digital initiatives to enhance the overall transaction experience of their clients.
Asia Pacific banking sector delivered better-than-expected profitability and reduced NPLs in FY2021.The strongest banks in China, Hong Kong, Japan, Macau, Malaysia and Singapore ranked among the top 10 strongest banks in the region
Banks are forward-looking, leaving the pandemic behind and helping clients to expand in the region by digitising operations and embarking on sustainability journeys
BoA, UOB and Deutsche Bank are the winning transaction banks in Asia Pacific in The Asian Banker Best Transaction Bank Rankings 2023, with leading positions in customer experience, technology and innovation, and digital capabilities
North America demonstrated the highest overall strength, followed by Asia Pacific and the Middle East, with all banks in the ranking averaging decline in return on assets from 0.76% to 0.74%, and improved gross non-performing loan ratio from 1.8% to 1.65%
DBS’s Gupta is the highest-paid bank CEO in Asia Pacific, while Public Bank CEO Tay received the highest compensation as a percentage of net profit, with the combined total earned by the top 10 highest-paid bank chiefs in the region reaching $63.4 million in FY2022, up from $56.5 million in FY2021
The shift in global supply chains is accelerating demand for new financing programmes and solutions that aim to accelerate and improve trade digitalisation processes