Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Yes Bank raises FCNR(B) deposit rates to draw non-resident funds in India
Yes Bank offered 7% on three-year FCNR(B) deposits, 7.05% on four-year deposits and 7.10% on five-year deposits to attract non-resident inflows, according to a Bloomberg report.
US fintech iCapital doubles Hong Kong office space amid regional wealth surge
US fintech iCapital more than doubled its Hong Kong office footprint by leasing 9,000 sq ft at One International Finance Centre as it plans to double its Hong Kong staff by 2029 amid rising demand for wealth-management services in Asia.
Bank of India sets up specialised Mumbai branch for partnership-led lending
Bank of India set up a specialised branch at Nariman Point in Mumbai to handle pool buyouts, co-lending, TReDS and supply chain finance as part of its partnership-led lending push.
OpenWay and Visa partner to accelerate APAC banks' payment product launches
OpenWay and Visa collaborated to support selected Visa payment products on OpenWay's Way4 platform, enabling banks, processors and fintechs across Asia Pacific to bring new payment products to market faster.
Bombay High Court rejects Lilavati Trust plea to restrain HDFC Bank
The Bombay High Court rejected the Lilavati Trust's interim plea to restrain HDFC Bank from making statements about it, finding the bank's statements factually accurate and awarding Rs 5 lakh costs to the bank.
Punjab & Sind Bank watches MSME book as West Asia crisis persists, after record FY26 profit
Punjab & Sind Bank, which reported a record ₹1,322 crore profit for FY26 in April, said it was keeping a close watch on its MSME loan book as a prolonged West Asia crisis may hit borrower cashflows.
India's RBI offers concessional forex swap and banking stocks rise
The Reserve Bank of India offered banks a concessional foreign exchange swap facility for overseas borrowings with a minimum maturity of three years, prompting a rise in banking stocks.
HDFC Bank raises MCLR and lending rates across tenors in India
HDFC Bank raised lending rates by up to 10 basis points across tenors, including a 5 basis point increase in the one-year benchmark MCLR to 8.40 percent, the bank said.
Canara Bank's new CEO sets deposit and youth engagement as top priorities
Canara Bank's new MD and CEO Brajesh Kumar Singh said his immediate priority was raising low cost deposits and improving CASA to strengthen the bank's efficiency and appeal to younger customers.
OCBC Bank introduces allocated physical gold trading and custody for clients
OCBC announced it would launch allocated physical gold trading and custody in Singapore from 10 June, offering institutional, high-net-worth and ultra-high-net-worth clients the ability to buy, sell and hold large allocated gold bars.
Thai consumer council sues Meta, Apple, Line, Google and banks over 230 million baht scam losses
A Thai consumer watchdog filed a civil lawsuit against Meta, Line, Apple, Google and nine banks and financial institutions, alleging they allowed scammers to defraud consumers and caused losses of more than 230 million baht.
Vietnam Maritime Bank cuts loan approval times to 15 minutes
Vietnam Maritime Bank halved its loan turnaround time to 15 minutes after deploying FICO's AI decisioning platform with regional partner Blitz, completing the integration of AI, machine learning and rules in ten months.