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Aeon Credit Service (M) Bhd’s net profit for the third quarter ended Nov 30, increased 23.5% to RM87.14 million from RM70.55 million a year ago, attributed to lower impairment loss on financing receivables. Revenue for the period increased 11.6% to RM348.5…
E-commerce platform Bukalapak has partnered with online investment platform Tanamduit to introduce mutual fund products to first-time retail investors. The partnership will see local asset management firms Bahana TCW Investment Management, Batavia Prosperindo…
Thirteen of 17 listed banks have seen their bad debts rise in the first 9 months of this year, according to banks’ financial reports. Experts blame this on recent credit growth, loose lending practices and accumulated old non-performing loans. Bad debts of…
Vietcombank VCB.HM has made a significant step in becoming the first Vietnamese bank to open a representative office in the U.S. The move by Vietnam’s biggest bank by market value comes as diplomatic ties between Vietnam and the U.S. are on the rise and is…
In the recently announced 2019 business plans, KASIKORNBANK (KBank) will press ahead to become the “Customers’ Life Platform of Choice” by using K PLUS to introduce financial and lifestyle services that suit individual clients. KBank’s financial and IT…
Diversified Indonesian conglomerate Astra International has established a joint venture with Hong Kong-based technology company WeLab to provide financial products and loans to unbanked people, the company announced on Thursday (06/09). “We hope to expand our…
Owned by India’s richest man Mukesh Ambani, Reliance is negotiating with more than a dozen banks to arrange the loans in single or multiple tranches as it rolls out an optical-fiber network and sets up more retail stores. This loans are to refinance existing…
Bad debts accounted for 2.18 percent of total lending at the end of the first quarter of 2017. Vietnamese banks’ total loans at the end of May were 6.16 percent larger than at the end of 2017, the State Bank of Vietnam said on Monday. Bad debts accounted for…
The total loans of the banking system are expected to grow by 16.33 per cent in 2017 against December last year, lower than the Government’s limit of 18 per cent. The State Bank of Viet Nam released the information this week after conducting a survey on…
State-run mortgage lender Bank Tabungan Negara (BTN) is expected to launch micro housing loan for lower income group by the end of Feb, its president director said. “We will launch it around end of this Feb. It is a special loan for lower income group who do…
Thailand is the world’s second largest rice exporter, and it is confronted by a fall in prices that has mostly affected the rice farmers, with prices hitting a thirteen months low. Now the Thai Government has taken action and has proposed a set of measures…
The Executive Board of the World Bank has approved a US$400 million Development Policy Loan for the Indonesias Logistics Reform, which will be used to improve the countrys logistics system and connectivity. “These reforms will help Indonesia in achieving…
China’s Alibaba Group Holding Ltd said it has signed a deal for a $3 billion five-year loan, which will help the e-commerce giant as it snaps up stakes in companies within China and overseas. Alibaba, led by founder Jack Ma, has been expanding in areas beyond…
China’s new credit surged the most since June as companies increased borrowing in the corporate bond market. Aggregate financing rose to 1.82 trillion yuan ($276 billion) in December, according to a report from the People’s Bank of China. That compares with…
