Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Reserve Bank of Australia Cuts Cash Rate to 3.85% in Second Easing of the Cycle
The RBA lowered its cash rate by 25 basis points to 3.85%, citing easing inflationary pressures and flagging global trade uncertainty as a key downside risk to growth.
Datuk Muzaffar Hisham Appointed Group CEO of Bank Pembangunan Malaysia
Malaysia's Bank Pembangunan named Datuk Muzaffar Hisham as Group CEO effective 18 May 2025, bringing over 20 years of banking experience, most recently as Group CEO of Maybank Islamic.
Pakistan Issues Inaugural Green Sukuk, Raising PKR 32 Billion for Renewable Energy and Climate Infrastructure
Pakistan auctioned its first sovereign Green Sukuk on 16 May 2025, raising PKR 31.99 billion (approx. USD 114 million) under a new Sustainable Investment Sukuk Framework.
Anggoro Eko Cahyo Appointed President Director of Bank Syariah Indonesia at 2025 AGM
Bank Syariah Indonesia named Anggoro Eko Cahyo as its new President Director at its annual general meeting, succeeding Hery Gunardi who moved to Bank Rakyat Indonesia.
MUFG Reports Record FY2024 Net Profit of JPY 1.862 Trillion, Up 25%, as Rate Normalisation Boosts Margins
MUFG posted record FY2024 net profit of JPY 1.862 trillion, up 25%, with ROE of 9.9%, achieving its medium-term plan target ahead of schedule, with FY2025 guidance set at JPY 2 trillion and dividends raised to JPY 64 per share.
People's Bank of China Cuts Reserve Requirement Ratio by 50 Basis Points, Releasing ¥1 Trillion
The People's Bank of China cut the reserve requirement ratio by 50 basis points effective 15 May 2025, its first RRR reduction of the year, releasing approximately ¥1 trillion into the banking system.
Sumitomo Mitsui Financial Group Posts Record JPY 1.18 Trillion Net Profit for Year to March 2025
Sumitomo Mitsui Financial Group reported record FY2025 net profit of JPY 1.18 trillion, approximately USD 8.1 billion, up around 22% from FY2024, with FY2026 guidance set at JPY 1.3 trillion.
SMBC Japan Signs Agreement to Acquire 20% Stake in India's Yes Bank for USD 1.57 Billion
Japan's SMBC has signed an agreement to acquire a 20% stake in Yes Bank from SBI and consortium partners in what was described as the largest cross-border investment in Indian banking.
Macquarie Group FY2025 Net Profit Rises 5% to A$3.72 Billion with International Income at 66% of Total
Macquarie Group posted FY2025 net profit of A$3.72 billion, up 5%, with second-half profit up 30% and international income at 66% of total as asset management and banking both grew.
People's Bank of China Issues New Data Security Measures for Financial Institutions, Effective June 2025
The PBoC published new data security measures, dated 1 May 2025, on 9 May, taking effect on 30 June, covering all entities conducting PBoC-regulated activities including payment firms.
RBI fines State Bank of India ₹1.72 crore over lending, customer-protection and current-account lapses
The Reserve Bank of India penalised SBI for extending a bridge loan against government subsidy receivables, delays in reversing unauthorised electronic transactions and breaches of current-account rules.
SMBC agrees to buy 20% stake in Yes Bank from SBI and seven lenders for Rs 13,483 crore
Japan's Sumitomo Mitsui Banking Corporation will acquire 20% of Yes Bank at Rs 21.50 a share, subject to approval from the Reserve Bank of India and the Competition Commission of India.