Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Kasikornbank warns Mideast war will weigh on its asset quality
Kasikornbank said the ongoing Middle East war would weigh more heavily on its asset quality in the second half of the year and that it would provide targeted support and relief measures for affected customers.
Munify integrates with Circle to enable USDC local payouts in Philippines
Munify integrated with Circle Payments Network so that users can receive funds from abroad in USDC and have them converted into Philippine pesos and paid out to local bank accounts and e-wallets.
Indian banks raise FCNR(B) deposit rates with peak offers near seven percent
Indian banks raised interest rates on FCNR(B) foreign currency non-resident deposits, with peak offers touching about 7 percent as lenders sought to boost inflows from non-resident depositors.
Canara Bank raises MCLR on short tenures as liquidity tightens in India
Canara Bank raised its marginal cost of funds based lending rate for overnight to six month tenures by 5 basis points with effect from 12 June, amid tight liquidity conditions, while leaving longer-tenure MCLR unchanged.
China Construction Bank issues USD 1 billion and CNY 3 billion of senior green notes
CCB sold two USD 500 million floating-rate green tranches through its Hong Kong branch and CNY 3 billion of 1.64% green notes through its London branch, under its USD 15 billion MTN programme.
Indian banks likely to see further declines in bad loans despite economic headwinds, S&P says
S&P Global Market Intelligence expects asset quality at major Indian lenders to keep improving despite the Middle East war and weak rainfall, though net interest margins narrowed in the January-March quarter.
India extends credit guarantee scheme for microfinance institutions until August 31
India extended the Credit Guarantee Scheme for Microfinance Institutions 2.0 until August 31 and raised the maximum loan amount for large NBFC-MFIs and MFIs to ₹1,000 crore from ₹300 crore.
GIFT City opens applications for second fintech cohort in India
GIFT City opened applications for its second fintech cohort, offering three months of in-person residency followed by three months of virtual support to early-stage start-ups focused on product development and market validation.
Karur Vysya Bank raises US dollar FCNR(B) deposit rate to 7 percent
Karur Vysya Bank hiked its FCNR(B) US dollar deposit rate for 3 to 5 year maturities to 7 percent per annum, up from 2.63 percent, an increase of 437 basis points.
India's PIB clarifies RBI has no plans to replace paper notes by June 30
The Press Information Bureau said claims circulating on social media were fake and said that, according to the Reserve Bank of India, there were no plans to withdraw paper notes or replace them with plastic notes by June 30, 2026.
Credit Bureau Singapore and Experian Malaysia sign MOU to develop cross-border credit reporting service
Credit Bureau Singapore and Experian Malaysia signed a memorandum of understanding to develop a consent-based, two-way cross-border credit reporting service, helping lenders assess borrowers with credit histories in both markets.
CIMB and China CITIC Bank sign LOI to strengthen China ASEAN banking links
CIMB and China CITIC Bank signed a Letter of Intent to enhance financial connectivity between China and ASEAN, focusing on Malaysia and Indonesia to support trade, cross-border financing and investment flows.