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

Saudi National Bank, the third largest bank in the Middle East and Africa, achieved solid profitability. National Bank of Egypt overtook Standard Bank Group as the largest bank in Africa and it fared well in asset quality, capitalisation and liquidity

Central banks worldwide increasingly recognise the benefits of wholesale central bank digital currencies (wCBDCs) in making remittances and other cross-border transactions cheaper, faster and safer. Pilot projects set in motion seek to identify opportunities and risks as well as explore the possibility of having shared infrastructure to automate cross-border payments, foreign exchange and settlements.

Chinese private banks are upgrading philanthropic planning services to cater to increased demand following the country’s ‘common prosperity’ policy

Growing transaction volumes are pushing Indian banks to rethink technology architecture to integrate cloud and data capabilities to meet growing transaction volumes. Indian fintechs and digital players see consumer growth, but also increased expectations and competition.

The collapse of cryptocurrency giant FTX in late 2022 sent shockwaves throughout the crypto world. Previously valued at $32 billion, FTX filed for bankruptcy in November and its former chief executive officer Sam Bankman-Fried faces criminal charges. Countries around the world are expected to tighten regulations, leaving cryptocurrency platforms on shaky ground.

CaixaBank in Spain and South American bank Itau Unibanco topped this year’s inaugural Global Retail Bank Ranking

The Asian Banker’s survey across financial institutions (FIs) in seven countries in Asia reveals emerging trends in cybersecurity risks and fraud, pressing challenges and technology areas prioritised.

The failure of Silicon Valley, Silvergate and Signature banks was caused by asset-liability mismatches, interest rate hikes and insufficient diversification, with many other US banks set to crack

Consumers chose Indonesia’s Bank Central Asia as the Most Recommended Retail Bank, and DBS Singapore as Most Selected Main Bank in APAC in the 2023 BankQuality Survey

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