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Banking And Financial Services. Green credit is an important means to improve asset quality. March 16, 2021 493 Views Print By Wendy Weng The COVID-19 pandemic has exerted substantial impact on the profitability of banks in Asia Pacific, although most are better positioned to weather this crisis than during the global financial crisis Although the banking system remained resilient in 2020 amid the COVID-19 pandemic, profits have been hit hard.
In Asia Pacific (APAC), the profitability of banks weakened as reflected by the drop in weighted average return on assets (ROA) from 0.82% in the first half of fiscal year 2019 (1H FY2019) to 0.66% in 1H FY2020 (Figure 1), according to The Asian Banker 500 (AB500), an evaluation of the top 500 largest banks in APAC. Global Financial Services. What will ASEAN payment integration achieve? March 15, 2021 665 Views Print By Foo Boon Ping ASEAN member countries have taken steps to advance cross-border interoperability of standardised quick response (QR) code for payments and introduce innovative real-time remittances, in order to achieve cross-border real-time retail payments in the region by 2025 The goal of achieving greater payment integration and connectivity among the ten ASEAN member countries by 2025, took a significant step forward when the Working Committee on Payment and Settlement Systems (WC-PSS) completed the implementing policy guidelines (IPG) of the ASEAN payments policy framework for cross-border real-time retail payments and the draft guidelines for updating the annex on use cases of the IPG.
Meanwhile, member countries have taken steps to advance cross-border interoperability of standardised quick response (QR) code for payments and introduce innovative real-time remittances. Funding Societies’ Teo: “We brought our cash burn down by about 50%” March 10, 2021 1341 Views Print By Neeti Aggarwal Kelvin Teo, group CEO of Funding Societies, shares key challenges faced during the pandemic and the initiatives needed to address growing credit risks Funding Societies reduced its operational costs and cash burn by 50% during the pandemicIt managed to keep its default rate below 2% by focusing on selected industries and increased asset backed productsThe company has disbursed $1.5 billion loans to date although its annual growth rate of loans disbursed slowed in 2020 Funding Societies, a peer-to-peer (P2P) lending fintech that operates in Singapore, Malaysia, and Indonesia (as Modalku), focuses on meeting the short-term credit needs of small and medium enterprises (SMEs).
The company began its operations in Thailand early this year. Increased credit risk during the pandemic. The Asian Banker – a platform you can trust to gain insights into the Banking and Finance Industry - The Asian Banker. It is a well-known fact that the Banking and Finance Industry plays a critical role in overall economic development.
It propagates economic growth through technological progress and capital accumulation by expanding the rate of savings, pooling and mobilizing savings, generating information with regards to investment, promoting and accelerating the inflows of foreign capital as well as managing the capital allocation. Countries with stronger financial systems are likely to grow more swiftly over a period of time and make a considerable contribution to growth. Moreover, the industry also plays an important role in reducing inequality and poverty by making the finances available to the poor and vulnerable section of society, enabling risk management by bringing down their vulnerability to uncertain events, and facilitating productivity and investment that leads to greater generation of income. Banking & Financial Services Industry.
Banking And Finance Industry. Global exchanges hit new highs amid disruptive events and pessimistic forecasts. February 22, 2021 218 Views Print By Foo Boon Ping WFE has just published its latest market highlights report that studied the impact of the events of 2020 on markets across capitalisation, listed companies, IPOs, volumes and value traded in multiple assets classes including equities, derivatives futures, options and ETFs After a sharp 20.7% drop in the first quarter of 2020, domestic market capitalisation quickly recovered, reaching pre-pandemic levels by the end of the second quarter.
Global market capitalisation passed the $100 trillion mark for the first time in November, ending the year at $109.21 trillion.The number of new listings through IPOs and investment flows through IPOs increased significantly, by 25.7% and 36.8% year on year respectively in 2020. There was a 1.1% increase in the number of listed companies.Derivatives trading rose for almost all contract types, and in all regions. LexinFintech taps into China’s trillion-dollar new consumption market - The Asian Banker. February 08, 2021 306 Views Print Over the past seven years, LexinFintech has been committed to serving educated young professionals in China, a well-picked segment suited to its strengths in the consumer finance sector.
Amid a burgeoning consumer market, it has embarked on a consumption-focused strategy to secure future growth, going beyond its traditional consumer finance business As China restructures its economy from manufacturing and industrial production to domestic consumption, consumer related spending and finance have seen exponential growth in the past two years.
As of the end of 2019, China’s consumer loan market surpassed RMB 13 trillion ($1.99 trillion), an increase of over RMB 3 trillion ($459.41 billion) from the end of 2017. China’s former deputy minister of commerce, Wei Jianguo, pointed out last May that the country’s consumer market would reach RMB 45 trillion ($6.89 trillion) in 2020 and is expected to overtake the US as the world’s largest. Siam Commercial Bank’s payment hub boosted processing capacity and innovation resulting in business growth. February 08, 2021 249 Views Print Siam Commercial Bank together with FIS implemented a future-proof payment hub to increase its processing capacity and quickly launch new products in the market.
The initiative is in accordance with the National E-Payment Roadmap driven by Thailand’s government and central bank to promote nationwide digital economy The retail payments landscape has always been ripe for disruption and innovation not just because of evolving consumer behaviour but also due to regulatory reforms, and governments’ agenda on financial inclusion and digital payment. This is particularly prevalent in emerging markets wherein there is a large unbanked population and a high mobile penetration rate. For instance, Thailand’s government and central bank have been promoting a nationwide digital economy through its National E-payment Master Plan (NEMP) since 2014. Need to optimise operations and payment solutions. Asian banks' assets grew 10.3% amid surge in mergers and acquisitions. Saudi Arabian players lead robust growth in Islamic bank assets amid the pandemic.
February 02, 2021 360 Views Print By Wendy Weng Saudi Arabian Islamic banks continue to display strong financial performance.
Banking And Financial Services. Financial Events: Route to a Better Financial Future. At The Asian Banker, we conduct various Financial Events to help individuals and organizations make wise financial decisions.
The Asian Banker- One of the highly reliable platforms to know about Banking & finance industry. A well-organised and properly functioning financial system is critical to a modern economy, and banks play a key role in keeping the economy stable.
They perform various fundamental roles such as lending money to the businesses and consumers and they also make sure the payments of goods and services are processed safely, swiftly and optimally. In a situation, when banks fail to manage these tasks, it can have drastic consequences on the economy, making a tremendous impact over the Banking and Finance Industry. It is, therefore, important that banks are able to operate efficiently and for that, they must comply with stringent regulatory requirements. The banking and finance industry, as we know, is one of the most important sectors of the economy. In these highly volatile and unprecedented times, it is crucial to be aware of fast-changing operations in the finance industry to be able to keep up with these transformations, prudent financial decisions are required to be made. A trusted platform to gain information about the banking and financial services.
The Asian Banker is one of the most reliable providers of strategic intelligence, rendering studies and reports that cover trends, insights, transformational shifts and actionable recommendations specific to the Banking and Financial Services Industry. We came into being in 1996, and since then, we have been working with utmost dedication and commitment to help individuals and businesses manage their finances in the most efficient and optimal manner.
The key foundation of our institution lies in the responsibility, accountability and relationship of trust between providers and users of finances that fosters a greater understanding of the financial world and aid in making wise decisions that target long-term development and growth. We also help individuals as well as communities to keep track of the latest changes taking place in the banking and financial sector. Excellence in Retail Financial Services is one of the Finance Conferences held in Singapore - The Asian Banker. We run regular events and Finance Conferences worldwide, including across Asia, especially China, Japan, Silicon Valley, London, Switzerland, and many other countries. Our main offices are in Singapore, Beijing, and Dubai and support offices in Kuala Lumpur and Manila with employees and partners based in the United States and Europe.
We have grown enormously across a whole range of markets where the financial services industry has been transforming. Access Bank Nigeria edges African peers as Best Digital Bank in Africa. January 21, 2021 948 Views Print By Chris Kapfer The bank curated a strong digital active client base but its low digital BankQuality score and a rise in customer complaints after its acquisition of Diamond Bank in 2019 tainted some of its success. Ping An Bank ensures business growth through digital transformation and AI integration. January 13, 2021 1314 Views Print Zhang Bin, chief information officer at Ping An Bank, discusses the bank’s digital transformation, the use of artificial intelligence (AI) to drive improvement in business performance and the second tipping point of intelligent technology that will enable integrated finance Ping An Bank has shown strong online operational capabilities and high customer satisfaction amid a complex and volatile market environment impacted by the COVID-19 pandemic.
The bank’s performance in the first half of 2020 benefitted from the mobile banking and fintech enhancements introduced in the past few years. Zhang Bin, chief information officer at Ping An Bank traced the bank’s digital transformation journey from building basic capabilities, modernising its IT infrastructure, to implementing an agile technology architecture that leverages artificial intelligence (AI) capabilities. Banking And Financial Services. Financial Technology Innovation Awards 2020: Players seek value creation through technology - The Asian Banker. December 16, 2020 1167 Views Print By Mobasher Kazmi Banks look to build on operational efficiencies through automation while deepening fintech. One of the Financial Events of The Asian Banker - The Future of Finance Summit. The Future of Finance Summit, relaunched from The Asian Banker Summit, is the region's largest annual conclave of worldwide thought leaders and senior industry practitioners.
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Pandemic creates new attack opportunities for cyber criminals - The Asian Banker. December 02, 2020 362 Views Print. Explore the future of banking and financial services with The Asian Banker. What are the Banking and Finance Conferences made by The Asian Banker? Be A Part Of Finance Events From The Asian Banker And Get Useful Insights. The Asian Banker –the Premier Platform To Get Insights Into The Banking And Finance Industry. Wells Fargo’s Amin: “It forces us to be much more focused on value added services and driving solutions” Banking And Finance Conference. Banking And Financial Services. Banking and Financial Services Industry. Banking And Finance Industry. ANT Group's record breaking $34.5 billion IPO hits regulatory snag - The Asian Banker. Production and supply chain diversification not as simple as lift and shift.
Funding Societies’ Teo: “We meet SMEs’ needs through hyperlocal products and partnerships” Nium’s Bermingham: “We are expanding payment routes in Asia” Bambu’s Phillips: “We are solving technology problems in an investment world” Stanchart HK's Huen: "China's opening agenda and renminbi internalisation are multi-year trends" We are moving towards a more holistic definition of value creation. Banking And Finance Global Awards. Banking And Finance Conference. Finance Conferences.
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Grab Financial Expands into the Consumer Ecosystem through Micro Investment and Loans. 5G will drive the “financial new normal” - The Asian Banker. Deutsche Bank’s Khan: “Risk recalibration fundamental to growing ESG market” Banking & Financial Services Industry. The Asian Banker- A paramount platform to know about Banking & financial services industry. Follow The Asian Banker for the latest financial market's news. Stay informed about Financial Services Industry Trends with The Asian Banker. A leading platform to gain useful insights into the financial services industry. Banking And Finance Industry. Aurigin’s Jayawickrama: “We want to create transparency and visibility in investment banking” Latest Financial Market News. Time for Real-Time Payments Worldwide. RCBC’s Villanueva: “We are a traditional bank now trying to be a challenger bank”
Vietcombank’s Nghiem: “Becoming digitalised is the future for banks” Asian banks keep up to speed on ISO 20022 migration. Financial Services Industry Trends. Banking & Financial Services Industry. Banking & Financial Services Industry. Banking And Finance Industry. Banking And Finance Industry. Latest Financial Market News. Trends In Finance Industry. A Trusted Platform to gain Information about the Financial Services Industry. Banking And Finance Industry. The Leading Platform in Banking and Financial Services Industry – The Asian Banker. Banking And Finance Industry. Banking & Financial Services Industry.
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