Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Sea Limited Posts FY2024 Revenue of $16.8 Billion as SeaMoney Loan Book Grows 63.9%
Sea Limited reported FY2024 group revenue of $16.8bn, up 29% year-on-year, with its SeaMoney financial services arm growing its loan book to $5.1bn.
South Korea's Kakao Bank Nominates Yun Ho-young for Fifth Consecutive Term as CEO
Kakao Bank nominated Yun Ho-young on 4 March 2025 for a fifth consecutive term as CEO, subject to shareholder approval on 26 March.
China's Ant Group Names Cyril Han as CEO, Eric Jing Remains Executive Chairman
Han Xinyi, known as Cyril Han, became CEO of Ant Group on 1 March 2025, succeeding Eric Jing who continues as Executive Chairman after a year as President.
DBS Bank India Appoints Rajat Verma as CEO Following Surojit Shome's Retirement
Rajat Verma became CEO of DBS Bank India on 1 March 2025 after RBI approval, succeeding Surojit Shome who retired, and joining DBS's Group Management Committee.
CIMB Group Achieves Record FY2024 Net Profit of RM 7.73 Billion, Up 10.7%, with ROE at 11.2%
CIMB Group posted a record annual net profit of RM 7.73 billion in 2024, up 10.7%, with operating income rising 6.1% to RM22.3 billion.
Bank of Thailand Cuts Policy Rate to 2.00% in 6–1 Vote, Signals Move Is Not Start of Easing Cycle
Thailand's central bank cut its benchmark rate by 25 basis points to 2.00% in a 6–1 vote, citing a slower growth outlook and rising downside risks, while stressing the move is not the start of an easing cycle.
OCBC Posts Record SGD 7.59 Billion Net Profit in FY2024 as Total Income Tops SGD 14 Billion for First Time
OCBC's full-year 2024 net profit rose 8% to a record SGD 7.59 billion, with total income exceeding SGD 14 billion for the first time and plans to return SGD 2.5 billion to shareholders.
Maybank Posts Record FY2024 Net Profit of RM 10.09 Billion, Up 7.9%
Maybank reported record full-year net profit of RM 10.09 billion for 2024, a 7.9% rise, with profit before tax up 9.3% as net operating income and improved impairment allowances supported the result.
Bank of Korea Cuts Policy Rate to 2.75% in Third Reduction Since October 2024 Amid Growth Concerns
The Bank of Korea unanimously cut its benchmark rate by 25 basis points to 2.75%, its third reduction since October 2024, as GDP forecasts were lowered on weak domestic demand.
BDO Unibank Posts FY2024 Net Income of PHP 82 Billion
BDO Unibank reported FY2024 net income of PHP 82.0 billion, up 12% year on year, driven by solid performance across its core businesses, with net interest income and non-interest income both up 8%.
Grab Financial Services Posts 44% Revenue Growth and $536 Million Loan Portfolio in FY2024
Grab's financial services arm posted FY2024 revenue of $253 million, up 44%, with its loan portfolio growing 64% to $536 million and digital bank deposits reaching $1.2 billion.
UOB Group Achieves Record FY2024 Net Profit of SGD 6.0 Billion on Fee Growth and Citi Integration
UOB Group reported a record FY2024 net profit of SGD 6.0 billion, up 6% year on year, as fee income climbed and it completed the integration of Citi's consumer business in Thailand.