Payments, fintech and the money moves powering Asia's retail economy.
State lender Bank Negara Indonesia (BNI) plans to set up a subsidiary in Malaysia this year after the two countries signed an agreement on reciprocity-based banking business. BNI is waiting for the holding company of state-owned companies in the banking…
In the mobile wallet business, volume business and long-term supplier contracts can deliver cost savings for buyers, according to market research firm Technavio. According a new report from the company, cost savings can be achieved through adoption of…
Global mobile wallet spending is on track to grow nearly 32% in 2017 to reach $1.35 trillion, a new study from Juniper Research predicts. Although at the moment transactions are concentrated in China and East Asia, the research firm predicts that brands such…
Mitsubishi UFJ Financial Group, Japan’s biggest bank, agreed to buy a 20 percent stake in Philippine lender Security Bank Corp. for 36.9 billion pesos ($773 million) as it deepens its expansion in Southeast Asia. Security Bank accepted MUFG’s offer to buy…
Mitsubishi UFJ Lease & Finance Company Limited (MUL) has announced its subsidiary in Indonesia, MULI, has opened a branch in Bandung, in a bid to capture new business as the country’s economy improves. The Bandung Branch is MULI’s second branch in Indonesia…
State-owned lender Bank Rakyat Indonesia (BRI) last year posted a net profit of Rp25.8 trillion, up 2.18 percent from a year earlier. The profit growth was attributable to the banks prudential efforts as indicated by a rise in the ratio of reserves to…
State-owned Indonesia Eximbank will play a pivotal role in boosting small and medium enterprise (SME) exports through export based people’s business credit (Kurbe) and an incubator program. Indonesia Eximbank acting president director Suswijono Moegiarso said…
Asian shares slipped on Tuesday as stringent curbs on travel to the United States ordered by President Donald Trump brought home to investors that he is serious about carrying out his controversial campaign pledges. Global stocks posted their biggest loss in…
The Securities Commission Malaysia (SC) launched its latest Islamic capital market (ICM) initiative with the unveiling of a five-year Islamic Fund and Wealth Management Blueprint, which vision is for Malaysia to be a leading international centre for Islamic…
Singapore Exchange (SGX) welcomed Dasin Retail Trust to Mainboard under the stock code “CEDU”. Dasin Retail Trust is the first SGX-listed China retail property trust providing direct exposure to the fast-growing Pearl River Delta region. Dasin Retail Trust’s…
Bank Indonesia (BI) has warned unlicensed non-bank money changers to apply for a license during the ongoing transition period as a requirement to operate legally. The central bank has imposed the transition period since Oct. 6 last year when it issued a…
International Commercial Bank Lao Limited provides banking and related financial services in the Lao People’s Democratic Republic. It offers various deposit products, including current, savings, education fund savings, and senior citizen savings accounts; and…
As a result of a wider economic expansion and diversification strategy, Brunei’s banking sector is growing at a rapid rate and attracting a new wave of international players Despite its small size, Brunei, a southeast Asian nation on the island of Borneo, is…
Meanwhile, the managers at VP Bank receive twice as much as Vietcombank’s managers, about VND3.6 billion if the bank can fulfill the business plan. At ACB, the average level for key personnel is VND530 million a year. Vietnamese banks are more generous,…
Small-sized banks are making great efforts to grow and avoid being merged or acquired, however, it is not easy, according to the Đầu tư chứng khoán (Securities Investment) newspaper. VietA Bank, for example, plans to promote retail sales and focus on…
HSBC is shutting 62 more British branches this year, meaning the bank will have closed 340 outlets across the country within the past two years. But in a divergence of strategies between two of its most significant retail banking markets, the bank said it had…
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Read by retail operators, investors and brand teams across Asia.