Asia Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
DBS, Bank of China Ink MOU for Regional Fintech Push
DBS and Bank of China signed a memorandum of understanding in Beijing to expand cooperation in fintech innovation, cross-border RMB solutions, and sustainable finance, targeting Singapore, Indonesia, and Vietnam. The pact aims to boost Chinese firms' global expansion and regional trade flows.
HSBC Elevates Jack Yang as Asia-Middle East Finance Chief
HSBC has appointed Jack Yang as CFO for Asia and the Middle East, reinforcing CEO Georges Elhedery's cost-cutting restructuring strategy across the region's fastest-growing markets.
India Launches CGSMFI-2.0 to Boost Microfinance Lending
The Government of India has rolled out Credit Guarantee Scheme for Microfinance Institutions-2.0, offering up to 80% guarantee cover to encourage bank lending to MFIs. It targets support for 36 lakh small borrowers until June 2026 or ₹20,000 crore in guarantees.
Philippines' Metrobank Ends Sustainability Bond Sale Early on Demand Surge
Metropolitan Bank & Trust Co. shut its Series F ASEAN Sustainability Peso bonds offer a week ahead of schedule on March 23, fueled by robust institutional and retail interest. The 1.5-year bonds, yielding 5.4727%, fund green and social assets under the bank's framework.
RBI Slaps Penalties on Multiple Indian Banks for Violations
The Reserve Bank of India fined several banks and NBFCs between Rs 30,000 and Rs 1 lakh for breaching KYC norms, governance standards, and Banking Regulation Act rules from March 11-20. This underscores RBI's zero-tolerance stance on compliance lapses amid rising financial scrutiny.
Fiuu Surges to US$13B Payments in Southeast Asia Expansion
Southeast Asian fintech Fiuu processed US$13 billion in payment volume in 2025, up 32.65% year-on-year, amid ecosystem expansions like Samsung Pay in Malaysia and Tap to Pay in Singapore. The firm eyes Mastercard Click to Pay and cross-border solutions in 2026.
JP Morgan Names HSBC Veteran Badhwar India Chief
JP Morgan has appointed HSBC's Rahul Badhwar as its senior country officer for India, effective July 2026, to lead growth in the fast-expanding market after Kaustubh Kulkarni's departure. Based in Mumbai, he will report to Asia Pacific CEO Sjoerd Leenart and join the regional management committee...
EIB Global, Techcombank Strike €200M Vietnam Climate Deal
EIB Global and Vietnam's Techcombank have secured a €200 million credit line to fund private-sector green projects, targeting renewable energy and sustainable transport amid Vietnam's push for net-zero by 2050. The deal bolsters the Just Energy Transition Partnership with advisory support on clim...
Mastercard Pioneers Korea's First AI Agent Ride Payment
Mastercard has executed South Korea's inaugural live agentic transaction, with an AI agent booking and paying for a ride from Incheon Airport to Seoul via hoppa using Agent Pay. This breakthrough paves the way for secure AI-driven commerce across issuers, acquirers, and merchants. (187 characters)
Asia Pacific CFOs Demand Flexible Digital Capital Tools: Visa Index
Visa's 2025-2026 Working Capital Index exposes stark gaps in Asia Pacific firms' access to tailored finance solutions amid economic pressures. High performers using AI and digital payments unlock millions in benefits, urging banks to innovate faster.
India's Sovereign Green Bonds Draw 2.32 Bid-Cover Strength
India's Sovereign Green Bonds sustain strong demand with a 2.32 bid-cover ratio in FY 2025-26, bolstered by a 7 basis point greenium despite no tax incentives. Public sector banks transferred Rs 60,518 crore in unclaimed funds to RBI's DEA Fund as of January 2026.
Climate Fund Managers Joins Climate Bonds Network to Expand Africa Access
Climate Fund Managers has gained membership in the Climate Bonds Network, positioning itself to unlock green finance flows to emerging markets across Africa and South Asia through specialized training and blended finance innovation.