Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Bank Rakyat Indonesia Appoints Hery Gunardi as President Director and CEO
Hery Gunardi has been appointed President Director and CEO of Bank Rakyat Indonesia effective March 2025, following shareholder approval.
GXBank Leads Malaysia's Digital Banks with RM2.16 Billion in Customer Deposits
Grab-backed GXBank topped Malaysia's digital banking sector with RM2.16 billion in deposits as of September 2024, despite reporting a pre-tax loss.
Bank of Communications Reports FY2024 Net Profit of RMB 93.6 Billion as Net Interest Margin Pressure Persists
BoCom's FY2024 net profit attributable to shareholders edged up 0.9% to RMB 93.6 billion, with operating income growing modestly amid NIM pressure, while its non-performing loan ratio edged down to 1.31%.
SMFG reports full allocation of EUR 500 million green bond to five renewable energy projects
Sumitomo Mitsui Financial Group said proceeds from its October 2024 seven-year green notes had been fully allocated to wind and solar projects, which it estimates avoid 3.54 million tonnes of CO2 a year.
Bank of Japan Holds Policy Rate at 0.50% as Global Tariff Uncertainty Warrants Caution
The Bank of Japan held its policy rate at 0.50% on 19 March 2025, by unanimous vote, citing high uncertainty over trade and other policies, including US tariffs.
Ping An Insurance Group Reports FY2024 Net Profit of RMB 126.6 Billion, Up 47.8% Year-on-Year
Ping An's net profit attributable to shareholders surged 47.8% to RMB 126.6 billion in 2024, with operating profit up 9.1% and revenue up 10.6%.
Westpac Appoints NAB's Nathan Goonan as Group CFO in Reshuffle Under New Chief Executive
Westpac has appointed Nathan Goonan, who served as CFO of National Australia Bank, as its Group CFO as part of an executive reshuffle under chief executive Anthony Miller.
South Korea FSC and FSS Fine 13 Global Investment Banks KRW 83.65 Billion for Illegal Short-Selling
South Korea's FSC and FSS announced penalties totalling KRW 83.65 billion against 13 global investment banks on 12 March 2025, concluding a 16-month investigation into illegal naked short-selling.
PhonePe Crosses 600 Million Registered Users with Daily Transactions Topping 330 Million
PhonePe has surpassed 600 million registered users in India, with 40 million-plus merchants, over 330 million daily transactions and annualised TPV exceeding INR 150 lakh crore.
Taiwan FSC Fines Bank of Taiwan NT$22 Million Over Employee Fraud Collusion and Compliance Failures
Taiwan's FSC has imposed a NT$22 million fine on Bank of Taiwan after two former employees colluded with a fraud syndicate and the bank failed to act on repeated money laundering alerts.
DBS Bank Discloses SGD 89 Billion Sustainable Financing Portfolio in 2024 Sustainability Report
DBS Bank's 2024 Sustainability Report shows SGD 89bn in sustainable financing outstanding and SGD 38bn in sustainable bond issuances facilitated during the year.
DBS Confirms Tan Su Shan as CEO Effective 28 March 2025, Succeeding Piyush Gupta
DBS confirmed Tan Su Shan will become CEO on 28 March 2025, becoming the bank's first female chief executive and a homegrown appointee, as Piyush Gupta ends his 15-year tenure.