Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
South Korea found hacks at 16 financial firms after data leaks
South Korea identified hacking incidents at 16 financial firms and about 100,000 data leaks, prompting plans for wider inspections, stronger monitoring and tougher management accountability across the sector.
Bank of Baroda vowed defence against Shetty’s $15 billion lawsuit
Bank of Baroda said it would defend a $15 billion damages suit filed by NMC founder B.R. Shetty, while saying it had not been served and the allegations remained untested.
Commonwealth Bank rolled out AI assistant and urged Australian safeguards
Commonwealth Bank began rolling out an AI assistant inside its banking app while CEO Matt Comyn said Australia needed safeguards to retain more of the technology’s domestic economic value.
Singapore's MAS held exchange-rate policy unchanged after two consecutive tightenings
Singapore's central bank kept the S$NEER policy band's appreciation rate, width and centre unchanged, while narrowing its 2026 core-inflation forecast to 1.5%–2.0% after two earlier tightenings.
RBA Minutes Flagged Persistent Inflation Risks and Further Rate Rises
Minutes of the Reserve Bank of Australia’s September meeting showed a unanimous rate increase, heightened inflation concern and approval for regular term repo auctions expected to begin in 2027.
Singapore Set Tighter Financial Roadshow Rules Requiring Explicit Consumer Consent
Singapore’s regulator will restrict public financial prospecting to designated commercial areas, require upfront disclosure and consent, and give institutions nine months to comply after updated guidelines arrive in 2027.
RBL Bank Profit Nearly Tripled as Loans and Deposits Expanded
RBL Bank’s September-quarter profit rose 170% as net interest income, advances and deposits grew, while bad-loan ratios improved from both year-earlier and June levels at the Indian lender.
India postponed UPI merchant fee rollout until after Diwali festival
India’s payments operator postponed a planned 0.4% merchant discount rate on eligible UPI transactions above Rs2,000, moving the 15 October start until immediately after Diwali.
Visa won approval to prepare China domestic bankcard clearing business
Visa received central-bank approval to begin formal preparations for a domestic bankcard clearing institution in China, advancing its market-entry plans without disclosing a launch timetable.
Singapore’s UOB and AWS signed exploratory ASEAN cloud technology agreement
UOB and Amazon Web Services signed an exploratory agreement to assess a dedicated Singapore cloud environment supporting the bank’s hybrid infrastructure across five ASEAN markets.
Pakistan's financial inclusion index increased 1.4 points to 59.5 in 2025
Pakistan's financial inclusion index increased to 59.5 in 2025 from 58.1 a year earlier, as the central bank cited stronger service usage, digital banks and Raast merchant adoption.
MUFG appointed Kenjiro Horikawa to lead its Philippine banking operations
MUFG appointed veteran banker Kenjiro Horikawa as managing director and Philippines country head from 1 October, placing him over the group's Manila operations after its universal banking approval.