Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Alipay and WeChat Pay Join China's Cross-Border Payment Gateway, Enabling Foreign Wallets Nationwide
Ant Group's Alipay and Tencent's WeChat Pay committed to China's Cross-border Interconnection Payment Gateway on 17 September 2025, opening QR-code access for international digital wallets.
BSP Proposes Asset-Based Fine Framework for Bank Reporting Lapses in Philippines
The Bangko Sentral ng Pilipinas has proposed graduated fines of up to PHP 10,000 per day for large banks that fail to submit regulatory reports on time.
Vietnam's State Bank Enacts Circular 27/2025 Requiring AML Reporting for Domestic Transfers Above VND 500 Million
Vietnam's SBV has enacted Circular 27/2025, mandating that banks file AML reports for domestic electronic fund transfers of VND 500 million or more, as Vietnam works to address its FATF grey-listing.
ANZ Admits Widespread Misconduct and Agrees to A$240 Million in Penalties Across Four ASIC Proceedings
ANZ admitted to unconscionable conduct and consumer misconduct affecting nearly 65,000 customers, agreeing with ASIC to seek A$240 million in Federal Court penalties.
SMBC Sells Entire 1.65% Stake in Kotak Mahindra Bank Ahead of Yes Bank Investment
Sumitomo Mitsui Banking Corporation disposed of its entire 1.65% equity stake in Kotak Mahindra Bank on 10 September 2025, ahead of completing its Yes Bank stake purchase.
Amazon Australia added Afterpay as a checkout option
Shoppers on Amazon's Australian website and app could split eligible physical purchases into four instalments with the Block-owned buy now, pay later provider from 3 September 2025.
India's CCI Approves SMBC's Acquisition of Up to 24.99% Stake in Yes Bank
The Competition Commission of India has cleared Sumitomo Mitsui Banking Corporation's proposed acquisition of up to a 24.99% stake in Yes Bank.
India's UPI Crosses 20 Billion Monthly Transactions for First Time in August 2025
India's UPI processed 20.01 billion transactions in August 2025, the first time the system crossed the 20 billion monthly threshold, with transaction value rising 21% year-on-year.
Vietnamese banks set to close about 86 million accounts that failed biometric verification
Commercial banks in Vietnam were due to start closing accounts without completed biometric authentication from 1 September 2025, after the State Bank of Vietnam identified nearly 86 million inactive accounts.
Bank of China board approves Liu Chenggang as executive vice president
The BOC Hong Kong vice president and chief financial officer, who joined Bank of China in 1994, will take up the post once his qualifications are approved by the National Financial Regulatory Administration.
Mizuho Financial Group Seeks Partnership or Acquisition in European and US Private Asset Management
Mizuho Financial Group is seeking a deal with a private asset specialist in Europe or the US, targeting private credit and infrastructure.
MUFG Targets US and European Asset Management Acquisitions to Capture Global Private Markets Growth
Mitsubishi UFJ Financial Group has identified overseas asset management in the US and Europe as a priority for potential deals, part of a push by Japan's megabanks into global private markets.