Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
India's HDFC Bank names Puneet Sharma CFO-designate from September 2026
HDFC Bank has approved Puneet Sharma as CFO-Designate from 1 September 2026 and CFO from 1 December 2026, succeeding Srinivasan Vaidyanathan.
India's Kotak Mahindra Bank to acquire Deutsche Bank's India retail and wealth business for Rs 282 crore
Kotak Mahindra Bank has agreed to acquire Deutsche Bank's India retail, private banking and wealth business for Rs 282 crore, with completion expected by September 2027.
Philippines' Mynt files for record PHP 92.3 billion IPO of GCash parent
GCash parent Mynt has filed for an IPO of up to PHP 92.3 billion (USD 1.5 billion) in Manila, poised to become the Philippines' largest listing on record.
India's Kotak Mahindra Bank CEO Ashok Vaswani to step down at end of term on 31 December 2026
Kotak Mahindra Bank chief executive Ashok Vaswani will not seek reappointment when his term ends on 31 December 2026, citing personal reasons.
Japan's SBI Holdings agrees to acquire crypto exchange Bitbank for JPY 46.7 billion
SBI Holdings will acquire Tokyo crypto exchange Bitbank for JPY 46.7bn (~USD 289m) via cash purchases and a new-share subscription, subject to JFTC clearance.
Airwallex raises USD 320 million Series H at USD 11 billion valuation
Airwallex has raised USD 320m in a Series H led by Addition at an USD 11bn valuation, up from USD 8bn six months earlier, to fund product development in autonomous finance and agentic commerce, expansion into new markets and its AI-native software teams.
Bank of America names Dominic Tan head of Southeast Asia investment banking, based in Singapore
Bank of America has appointed Dominic Tan head of Southeast Asia investment banking, based in Singapore; predecessor Antonio Puno moves to London.
Meta invests USD 900 million in India's CRED at USD 4.5 billion valuation as Kunal Shah takes WhatsApp helm
Meta is investing USD 900m in Indian fintech CRED at a USD 4.5bn valuation, taking a roughly 20% stake as founder Kunal Shah is appointed head of WhatsApp.
Indian banks offer higher FCNR(B) returns and leverage to NRIs after RBI hedging support
State Bank of India will lend up to nine times an FCNR(B) deposit of $1 million or more, after the RBI agreed to absorb hedging costs on fresh three- to five-year deposits.
Bangko Sentral ng Pilipinas raises reverse repo rate 25 bp to 4.75%
The BSP Monetary Board lifted its target reverse repurchase rate 25 bp to 4.75%, adjusted deposit and lending facilities in step, and said the country faces a higher inflation path.
Bank Indonesia hikes BI-Rate to 5.75% in further tightening step
Bank Indonesia raised the BI-Rate to 5.75% at its June meeting, following a 50 basis-point hike in May and an off-cycle 25 basis-point hike on 9 June, as the Board of Governors extended its tightening cycle.
Reserve Bank of Australia holds cash rate at 4.35% in June after May hike
The RBA left the cash rate at 4.35% following its May hike, saying inflation was still too high; annual CPI inflation was 4.2% in April.