Banking & Fintech.
Shinhan Bank Secures Incheon’s KRW 14.45 Trillion Treasury Account
Shinhan Bank will manage Incheon Metropolitan City’s main public funds until 2030, extending its nearly two-decade hold after fending off rival Hana Bank for the significant contract.
DBS Expands Gold Storage as SGX Prepares Gold Clearing
DBS has increased its Singapore gold storage capacity following client demand, ahead of the Singapore Exchange's planned launch of an over-the-counter gold clearing system by late 2026.
Singapore's covered bond market reaches S$29.8 billion
The Monetary Authority of Singapore reported that new issuance reached a record S$11 billion in 2025, with the market growing 15% annually since 2021.
Marex Names Robert Cheeseman Asia Prime Services Head
London-headquartered financial services firm Marex appointed Robert Cheeseman as its Asia head of prime services. He will operate from Hong Kong, bringing experience from HKEX and major banks.
Morgan Stanley: Singapore, Hong Kong Banks Gain Most From Asia Capital Markets
Singapore and Hong Kong financial institutions will capture the largest gains as Asia's capital markets deepen in the second half of this year, Morgan Stanley analysts forecast. Regional wealth accumulation drives this shift from traditional deposits to diverse financial assets.
China Securities Association Proposes Offshore Pay Clawbacks
China's Securities Association seeks feedback by September 29 on draft rules introducing pay clawbacks and integrity reporting for brokerages' overseas operations.
RBI Drafts Rules for Indian Banks on Cyber Fraud Debit Holds
The Reserve Bank of India issued draft amendments on 11 September, outlining procedures for commercial and co-operative lenders to temporarily freeze accounts linked to financial fraud.
KB Financial Group names Lee Jae-keun chairman nominee
Korea's largest financial group, KB Financial Group, has nominated Lee Jae-keun, 60, as its next chairman, an unexpected move over the incumbent that signals a focus on new growth strategies.
Cake Digital Bank wins Euromoney's Vietnam Best Digital Bank 2026 award
The Vietnamese lender, operating for nearly six years, reported profitability in mid-2024 and serves over 7.6 million customers through its digital platform.
Nam A Bank secures $30 million Proparco green finance for Vietnam
The five-year credit facility supports renewable energy, energy efficiency, and other green projects, boosting Nam A Bank's lending capacity across Vietnam.
DBS CEO Tan Su Shan: Bank to focus on Asia, not global expansion
South-east Asia’s largest bank will prioritise regional wealth management, capital markets, and trade, acknowledging US market dominance.
State Street names Tim Helyar as new Asia Pacific chief
Mr Helyar moves to Hong Kong from Sydney, taking over the regional leadership role from Lochiel Crafter at the US global banking giant.
Nextbank, Mount Carmel Rural Bank Launch Mobile Banking
Philippine banking tech firm Nextbank expanded its partnership with Mount Carmel Rural Bank Inc. (MCRBi). MCRBi will adopt Nextbank's Mobile Banking Solution, enhancing digital access for customers in the Calabarzon region.
Crédit Agricole CIB Names Nicolas Vix Apac Regional Officer
Crédit Agricole CIB appointed Nicolas Vix as its Asia Pacific senior regional officer, effective today. He replaces Jean-François Deroche, operating from Hong Kong.
Societe Generale Names Sasai Japan Global Markets Head
Societe Generale has appointed Tomoyuki Sasai as its Head of Global Markets for Japan, effective September 1, 2026. He takes over from Marc Saffon, who now serves as the bank's Japan Country Head.
China's 6 State Banks Post H1 Growth, First Since 2022
China's six largest state-owned banks recorded their first simultaneous revenue and net profit growth in the first half of 2026 since 2022, signalling a tentative rebound in net interest margins.
Techcombank CEO Jens Lottner's H1 2026 Pay Rises 29 Percent
Techcombank Chief Executive Jens Lottner collected US$650,000 (VND16.9 billion) during the first half of this year, a 29% increase from the prior year period. The bank's financial statements reveal total remuneration for its board and CEO also rose.
ASEAN Fintech Grapples With AI Skill Shortage, ADB Report Finds
A new report from the Asian Development Bank (ADB) and Global Fintech Institute (GFI) reveals a significant shortage of artificial intelligence (AI) skills across Southeast Asia’s financial technology sector. This deficit is most pronounced in Indonesia and Vietnam, despite both countries showing rapid AI adoption rates.
Singapore Asset Management Seeks Regulatory Clarity
Singapore's asset management sector is pressing for clearer, faster rules on new government initiatives. Firms need specific details on eligibility, scheme operations, and tax treatment to drive investment decisions amidst competition from Hong Kong.
UOB Prices €1 Billion Euro Covered Bond, First From Asia
Singapore's UOB completed a landmark €1 billion euro-denominated covered bond offering, becoming the first Asian issuer to do so. Strong investor demand allowed the bank to achieve tighter pricing for both two-year and five-year tranches.
UOB vs Lippo Marina: Singapore Court Quadruples Damages to S$76.1M
Singapore's Appellate Division of the High Court significantly increased damages awarded to UOB against developer Lippo Marina Collection for fraudulent housing loan disbursements.
Philippine Supreme Court Rejects BDO Unibank Claim, Cites Bank Negligence
The Philippines' Supreme Court denied BDO Unibank's bid to reclaim funds, ruling the bank's gross negligence caused the loss. The decision establishes banks cannot recover money when their own operational errors lead to premature withdrawals.
Green Link Digital Bank Posts S$16.1 Million Profit in FY2025; GXS Bank Records S$132 Million Loss
Singapore’s digital banking sector shows varied financial results for FY2025. Green Link Digital Bank (GLDB) achieved profitability, while GXS Bank, MariBank, Trust Bank, and ANEXT Bank reported significant losses.
JP Morgan Upgrades UOB to Neutral, Maintains DBS Neutral
JP Morgan has upgraded UOB to neutral from underweight, citing attractive valuations and improving asset quality. The bank maintains a neutral rating on DBS and an underweight stance on OCBC, based on its August 23 analysis.
Indian Banks Face Up To Four-Day Closures This Week
India's banks will close for up to four days between 24 and 30 August, according to the Reserve Bank of India. Digital banking services remain operational, mitigating disruption.
Global Banks Slash 70,000 AI-Linked Jobs This Year
Financial services firms, led by major global banks, have eliminated over 70,000 roles linked to artificial intelligence this year, an eight-fold increase from 2025.
Peter Seah exits National Wages Council; DBS begins chairman search
Peter Seah, 79, stepped down as Singapore's National Wages Council chairman on August 19 for personal reasons. DBS Group Holdings has now commenced a search for a successor to its long-serving chairman.
Singapore FinTech Association Refreshes Advisory Council
Singapore's FinTech Association appointed four new members to its Strategic Advisory Council, bringing expertise in public-private partnerships, banking, investment, and industry development.
Singapore Private Bank Onboarding Still Takes Months Despite MAS Goal
Wealthy clients in Singapore still face lengthy private bank account opening times, often taking months. This persists despite a Monetary Authority of Singapore-backed industry target to complete most onboarding within a month by end-2026.
Peter Seah Steps Down as Singapore National Wages Council Chairman
Veteran banker Peter Seah has relinquished his chairmanship of Singapore's National Wages Council. He continues to lead DBS Group and Singapore Airlines boards.
DBS Hong Kong Names Ng Sier Han CEO; Paredes Retires March 2027
DBS Hong Kong appoints Ng Sier Han as its next Chief Executive Officer. He will take over from Sebastian Paredes, who retires in March 2027 after 16 years with the bank.
Thai Bank Lending Grows 2.0% in Q2 2026, NPLs Decline
Thailand's commercial banks expanded lending for a second consecutive quarter in Q2 2026. Non-performing loans also saw a slight decrease, the Bank of Thailand reported.
FIS Launches Digital One Commercial to Unify APAC Bank Operations
Financial technology firm FIS has launched its Digital One Commercial banking platform across Asia-Pacific. This system allows banks to serve diverse business clients without replacing core technology, integrating multiple financial services.
Singapore Digital Banks: GLDB, Trust Bank Reach Profitability
Two of Singapore's five digital banks, GLDB and Trust Bank, achieved profitability in FY2025 and early 2026, according to the 2026 Singapore Digital Banking Report. Their success stems from distinct client-focused strategies.
DBS, OCBC Post Strong H1 2026 Results; UOB Continues Buybacks
Singapore's largest lenders, DBS and OCBC, delivered solid first-half 2026 financial results. Their performance, alongside UOB's, stabilised market sentiment despite rich valuations, driven by wealth management and asset growth.
SBI Q1 FY27 Profit Up 10% on Margin Growth, Credit Expansion
State Bank of India (SBI) reported a 10% increase in Q1 FY27 net profit, reaching ₹21,121 crore. Stronger net interest margins and credit expansion drove the earnings. While asset quality remains sound, the bank's current valuation requires sustained returns for further share price appreciation.
APAC Firms Want AI Traceability, Most Lack Audit Trails
Nearly all Asia-Pacific companies seek to trace artificial intelligence (AI) decisions to human accountability. However, a Sumsub report reveals only 38% possess tamper-proof audit trails for this purpose, creating significant regulatory and operational risks for businesses deploying AI.
DBS, OCBC Upgrade Outlooks; UOB Cautious on Fees After Q2 Results
Singapore's three largest banks reported Q2 earnings, with DBS and OCBC revising full-year forecasts upwards. UOB, however, adopted a more conservative stance, particularly on fee income. Wealth management remained a primary earnings driver for all three lenders.
HSBC US$1 Billion Buy-Back Misses Estimates, Shares Fall 2.5%
HSBC Holdings announced a US$1 billion share repurchase, its first since October. This amount fell below market expectations, causing shares in Hong Kong to drop 2.5%. The lender reported strong second-quarter profits, but prioritises capital for dividends and loan demand.
HSBC H1 2026 Pre-Tax Profit Rises 23% as Asia Operations Drive NII
HSBC reported a 23% increase in first-half 2026 pre-tax profit, reaching US$19.5 billion. Higher net interest income and wealth fees drove the gains. The bank also raised its full-year net interest income outlook.
HSBC Resumes US$1 Billion Share Buyback After 27% H1 2026 Profit Climb
HSBC announced a US$1 billion share buyback, following a 27% rise in first-half 2026 profits. This move demonstrates confidence in its ongoing strategic restructuring, focusing on core markets and operational streamlining.