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Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
And Wells Fargo is under investigation over issues in its AML programs.
Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
And Wells Fargo is under investigation over issues in its AML programs.
Thailand postpones card repayment rate hike amidst borrower struggles: report
The central bank will continue to promote consolidation of home and retail debt.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
Higher interest and fees lift Japan’s SMFG to record profit for Q1
Net interest income is expected to rise by a further JPY100b.
Hong Kong banks expand fraud alert system to retail transactions
Customers will receive alerts for “high fraud risk” fund transfers, amongst others.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
Malaysia's bid for BRICS membership to spur banking overhaul
However, challenges abound when moving away from U.S. and SWIFT reliance.
BofA names Winnie Chen as head of APAC global payments solutions
Chen will begin her duties in September 2024.
Malaysia launches amended Money Services Business Act
It clarifies offenses and the punishment for illegal operators.
HashKey OTC gets Singapore license to offer DPT services
It previously operated under an exemption.
South Korea’s deposit, loan interest rates dip in June
Average interest rates for new and outstanding loans and deposits fell.
Norinchukin Bank redeeming over $4.6b of perpetual loans
The redemption is part of the bank's efforts to improve its investment portfolio.
Malaysia raids 12 premises for suspected financial offences
A total of 92 bank accounts were frozen.
Japan’s Norinchukin reports profit loss of $2.75b in Q1
It attributed the loss to low-yielding asset sales, part of its portfolio improvement efforts.
Higher profits propel Mizuho’s net income to 44% rise in Q1
Credit-related costs fell 28.7% during the first three months of FY2024.
MUFG invests $393m in PH superapp GCash’s parent company
Globe Fintech Innovations operates GCash and Fuse Lending.
India’s HDFC Bank warns against fraudulent trading platforms
Fraudsters would make fake platforms and apps showing fake returns.
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Technology to underpin future of financial services
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Banks should boost their online infrastructure as digital assets become the norm.
Banks should boost their online infrastructure as digital assets become the norm.
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