Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Ant Group pilots Alipay AI assistant to challenge WeChat's dominance
Ant Group piloted an AI assistant named Ah Bao inside Alipay, allowing users to execute text or voice commands to complete financial and lifestyle tasks, including mutual fund purchases with user authorisation.
Indian banks face a tricky position after hiking FCNR(B) USD rates
Indian banks sharply raised interest rates on FCNR(B) USD deposits in the 3-5 year tenor, raising the prospect that depositors could prematurely break older deposits and rebook them as fresh, higher-rate placements.
China prepares commercial launch of mBridge cross-border payments platform
China is preparing to take the central bank digital currency platform mBridge into commercial use, the Financial Times reported, with fees about half those of traditional networks.
Thailand banks Krungthai and Kasikorn tighten rules on buy now, pay later
Krungthai Bank and Kasikornbank tightened scrutiny of their buy now, pay later operations and adjusted business strategies as they moved to align with stricter regulatory oversight in Thailand.
RBL Bank appoints Bhavin Lakhpatwala as chief financial officer in India
RBL Bank appointed Bhavin Lakhpatwala as its chief financial officer, with effect from June 12, 2026, replacing interim CFO Deepak Ruiya, who continues as deputy CFO.
Hong Kong regulators pledge strict compliance as Beijing tightens capital controls
Securities and Futures Commission chairman Kelvin Wong told the Caixin Summer Summit the regulator would never compromise on its bottom line, weeks after Beijing moved against three online brokers.
Bank of Baroda launches 555-day FD paying 6.75 percent to customers
Bank of Baroda launched a 555-day fixed deposit scheme that offered 6.75 percent to general customers, provided higher rates for senior citizens, and accepted deposits both online and at branches.
Zelle plans US-to-India payments by the end of 2026 and unveils ZelleUSD stablecoin
Zelle said US consumers will be able to send money to family and friends in India, with availability expected before the end of 2026, and unveiled a dollar-backed stablecoin for other markets.
HSBC shares rise 2.2% as financials lead FTSE 100 rebound
Hong Kong-exposed lenders and insurers recovered in London on 11 June after sharp declines triggered by China's tighter rules on cross-border investment, with Standard Chartered up 3.4%.
India MSME loan growth slows to 13 percent amid global headwinds
India's MSME loan growth decelerated to 13 percent as global headwinds weighed on lending, and ECLGS 5.0, approved by the government in May 2026, is designed to unlock about ₹2.55 trillion in additional credit.
Hong Kong Mortgage Corporation prices largest ever digital bond issuance globally
The Hong Kong Mortgage Corporation priced its inaugural digital bond, raising about HK$12 billion equivalent under its US$30 billion Medium Term Note Programme, in what was the largest digital bond issuance globally.
India's ESAF Small Finance Bank passes ₹50,000 crore total business mark
ESAF Small Finance Bank reported total deposits of Rs 26,197 crore and gross advances of Rs 23,832 crore as of June 11, 2026, taking combined business past Rs 50,000 crore.