Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Australia's Westpac reports 1H26 statutory net profit of A$3.4 billion, up 3%
Westpac's half-year profit included a A$75 million notable item for transaction costs on the pending sale of its RAMS mortgage portfolio, while the bank lifted provisions over the Middle East conflict.
Australia's NAB reports 26.3% fall in 1H26 cash earnings after A$949 million software charge
National Australia Bank's half-year cash earnings fell to A$2.64 billion after a change in software capitalisation policy; excluding the charge, cash earnings rose 2.3% on the previous half.
Singapore's OCBC to Acquire HSBC Indonesia's International Wealth and Premier Banking Portfolio
OCBC Indonesia will acquire HSBC Indonesia's International Wealth and Premier Banking portfolio for net asset value plus a premium of up to S$480 million.
India Appoints Rohit Jain as Reserve Bank of India Deputy Governor for Three-Year Term
The Indian government has named Rohit Jain, currently an Executive Director at the RBI, as Deputy Governor for a three-year term from the date he joins the post, on or after 3 May 2026.
Australia's ANZ Books A$126 Million Collective Provision Charge in 2026 Half-Year Results
ANZ Group Holdings reported its half-year results to 31 March 2026 with a A$126 million collective provision charge reflecting a raised external risk environment.
India's Federal Bank Agrees to Acquire Majority of Standard Chartered India Credit-Card Portfolio
Federal Bank agreed to acquire the majority of Standard Chartered's Indian credit-card-only customer portfolio, with the deal expected to close by end of 2026.
Bank of Japan Holds Rate at 0.75% as Three Board Members Push for 1.00% Hike
The Bank of Japan kept its policy rate at 0.75% in a 6-3 vote, with three board members calling for an immediate move to 1.00% on inflation risks.
Japan's Daiwa Next Bank Agrees to Acquire ORIX Bank for ¥370 Billion
Daiwa Securities Group's Daiwa Next Bank has agreed to buy ORIX Bank Corporation from ORIX for ¥370 billion, Daiwa's largest acquisition in almost two decades.
Vietnam's National Assembly Approves Pham Duc An as State Bank of Vietnam Governor for 2026-2031
Vietnam's National Assembly approved Pham Duc An as Governor of the State Bank of Vietnam on 8 April 2026, replacing Nguyen Thi Hong who moved to the legislature.
PBOC Strengthens Yuan Fix by 75 Pips to 6.8854
The People's Bank of China set the USD/CNY reference rate at 6.8854, a 75-pip gain from 6.8929. Onshore spot trading may move up to 2% either side of the daily fix.
Vietnam's MoMo Explores New Investment at Valuation Above $2 Billion
MoMo, Vietnam's leading digital wallet with over 30 million users, is working with Jefferies and Morgan Stanley on options including bringing in new investors at a valuation above $2 billion.
Vietnam's MB Bank Eyes 30-35% Credit Surge for 2026
Vietnam's Military Commercial Joint Stock Bank (MB) has set 2026 targets including pre-tax profit growth of about 15% and 40 million customers, and aims for 30-35% annual growth in credit and deposits over 2026-2028. With assets over $60 billion, MB aims to keep ROE above 20% in 2026.