Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Thailand's central bank says branch closures set to hit bank staff more than AI
Thailand's central bank governor said AI adoption had limited short-term impact on banking employment, and that branch closures, rather than AI, would be the main driver of staff reductions.
HDFC Bank plans dollar bond sale under subsidised scheme, eyes at least $500 million
HDFC Bank planned to sell a five-year dollar bond under a new subsidised scheme and was looking to raise at least $500 million, with sources expecting strong demand.
Singapore announces gold clearing system and central bank vaulting services
Singapore announced an over-the-counter gold clearing system and central bank vaulting services, with the Singapore Exchange to set up Loco Singapore clearing as the city-state sought to deepen its gold market role.
Citi appoints JianXun Toh as corporate banking head for Japan, Asia North and Australia
Citi appointed JianXun Toh as head of corporate banking for Japan, Asia North and Australia, effective immediately, with Toh based in Hong Kong.
Asian markets temper Iran deal optimism ahead of Bank of Japan decision
Asian stocks inched higher on Tuesday but gains eased as investors weighed a reported Iran-United States peace deal against impending central bank decisions, notably an expected rate move from the Bank of Japan.
Thailand's Government Savings Bank partners with 10 AMCs to widen retail access
Government Savings Bank partnered with ten asset management companies to expand savings and investment choices for its customers, permitting retail investors to select products matched to their risk appetite.
RBI directs banks and NBFCs to remove incentives for mis-selling
The Reserve Bank of India directed banks and non-bank finance companies to ensure policies do not incentivize mis-selling, and mandated suitability checks and explicit consent from January 2027.
ING reduces stake in Thailand's TMBThanachart Bank to 19.5 percent
ING cut its stake in Thailand's TMBThanachart Bank from 23.1% to 19.5% via the Thai lender's share buyback, generating about €243 million in gross proceeds based on current exchange rates.
China's May credit data shows weak demand and ongoing household deleveraging
China's May credit figures showed new bank loans totaled 520 billion yuan, highlighting sluggish consumption, weak investment and continued household deleveraging despite a policy push to boost innovation.
Citi Hong Kong launches eVouchers on Citi Mobile app to boost digital banking
Citi in Hong Kong launched an eVouchers function on its Citi Mobile app, letting cardholders browse, save and redeem vouchers from more than 500 merchant outlets for online and in-store purchases.
Veefin appoints Riddhi Dutta as chief revenue officer for global expansion
Veefin named former Backbase executive Riddhi Dutta as chief revenue officer, tasking him with overseeing global sales, marketing, partnerships and go to market operations to expand the company internationally.
AIIB president Zou Jiayi calls multilateralism an 'infrastructure of global trust'
Marking the Beijing-based lender's 10th anniversary, Zou said institutions such as AIIB create certainty amid uncertainty, as the bank aims to broadly double its annual financing volume by 2030.