Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
OCBC Bank Q1 2025 Net Profit Falls 5% to SGD 1.88 Billion Amid Net Interest Margin Compression
OCBC Bank reported Q1 2025 net profit of SGD 1.88 billion, down 5% year on year, as 10% growth in non-interest income only partly offset a 4% decline in net interest income and a 23bps NIM squeeze.
Bank Negara Malaysia cuts statutory reserve requirement to 1%, releasing RM19 billion of liquidity
The central bank halved the SRR ratio with effect from 16 May 2025 while holding the overnight policy rate at 3%, stressing the move was a liquidity measure rather than a policy signal.
Sea Limited Rebrands SeaMoney to Monee and Opens Singapore Digital Finance Headquarters
Sea Limited has rebranded its financial services arm from SeaMoney to Monee on its 16th anniversary, unveiling a new 200,000-sq-ft global headquarters in Singapore for the business.
Taiwan FSC fines Taishin Bank NT$6 million over misdirected collection letters and card statements
Taiwan's Financial Supervisory Commission penalised Taishin International Bank after system and printing errors affected collection letters and credit card statements for 1,447 customers.
ANZ Group Reports H1 FY2025 Statutory Profit of A$3.64 Billion on Record Revenues with Suncorp Contribution
ANZ Group posted H1 FY2025 statutory profit after tax of A$3.64 billion, up 16% half on half, as record revenues of A$11.0 billion reflected the first full contribution from Suncorp Bank.
People's Bank of China Cuts 7-Day Reverse Repo Rate to 1.40% in Coordinated Stimulus Package
The PBoC reduced its 7-day reverse repurchase rate from 1.50% to 1.40% as part of a coordinated stimulus package announced amid escalating trade war pressures.
DBS Group Singapore Reports Record Q1 2025 Pre-Tax Profit of SGD 3.44 Billion as Total Income Hits New High
DBS Group posted a record Q1 2025 pre-tax profit of SGD 3.44 billion and total income of SGD 5.91 billion, though net profit dipped 2% due to the global minimum tax.
UOB Reports Q1 2025 Net Profit of SGD 1.49 Billion as Record Fee Income Offsets NIM Compression
UOB posted Q1 2025 net profit of SGD 1.49bn, flat year-on-year and below analysts' expectations, with record fee income of SGD 694m up 20% and operating profit rising year-on-year.
People's Bank of China Cuts RRR by 50bps and Policy Rate by 10bps, Injecting CNY 1 Trillion to Counter Trade Headwinds
The PBOC announced a 50 basis point reserve requirement ratio cut and a 10bps policy rate reduction, injecting approximately CNY 1 trillion in liquidity amid US tariff pressure.
GCash Partners with Philippine Statistics Authority on National ID Co-Registration Programme
GCash has partnered with the Philippine Statistics Authority to allow simultaneous National ID registration and GCash account opening, integrating real-time KYC.
Westpac Banking Corporation Reports A$3.32 Billion Half-Year Profit as UNITE Costs Lift Expenses and Margins Narrow
Westpac posted H1 FY2025 net profit of A$3.32 billion, down 1% year-on-year, with a 76 cent interim dividend as UNITE investment lifted expenses and the net interest margin narrowed.
Kotak Mahindra Bank FY2025 consolidated net profit rises 21% to INR 22,126 crore on insurance sale gain
Excluding a one-time INR 3,013 crore gain from the Kotak General Insurance divestment, consolidated profit rose 5%; standalone net interest income grew 9% and advances 13%.