Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
MobiKwik and CRED Become First Non-Banking Fintechs to Launch e-Rupee CBDC Wallets in India
MobiKwik and CRED launched digital rupee wallets in January 2025, becoming the first non-bank payment companies to offer India's CBDC following an RBI policy change.
SFC Fines Hang Seng Bank HK$66.4 Million for Investment Product Misconduct Spanning Nine Years
The SFC has fined and reprimanded Hang Seng Bank HK$66.4 million for regulatory failures spanning nine years, including unsuitable product sales and overcharging clients at least HK$22.4 million.
Vietcombank Posts Record FY2024 Pre-Tax Profit of VND 42.2 Trillion to Lead Vietnamese Banking Sector
Vietcombank reported FY2024 consolidated pre-tax profit of approximately VND 42.2 trillion ($1.66 billion), a record high and the best result among Vietnamese banks.
Monetary Authority of Singapore Eases S$NEER Band Slope in First Policy Relaxation Since 2020
The MAS slightly reduced the slope of its Singapore dollar nominal effective exchange rate policy band, the first easing of monetary policy since 2020, as core inflation eased to around 2%.
India's RBI Penalises Jammu and Kashmir Bank Over Basic Savings Account Compliance Failures
India's RBI has fined Jammu and Kashmir Bank ₹3.318 crore for lapses in complying with its directions on Basic Savings Bank Deposit Accounts, KYC and loans and advances.
RBI Fines Canara Bank ₹1.636 Crore for Priority Lending and Deposit Account Breaches
The Reserve Bank of India announced on 24 January 2025 a ₹1.636 crore penalty on Canara Bank, imposed by an order dated 7 January 2025, for non-compliance with priority sector lending, interest rate on deposits, and basic savings account norms.
Indonesia's Bank Central Asia Posts FY2024 Net Profit of IDR 54.8 Trillion on Loan and Digital Growth
BCA reported FY2024 net profit of IDR 54.8 trillion, up 12.7% year-on-year, as loan growth of 13.8% and rising digital transaction volumes drove income higher.
Bank of Japan Raises Policy Rate to 0.5%, Highest Since 2008, on Wage and Inflation Progress
The Bank of Japan raised its overnight call rate target to 0.5% in January 2025, the highest level since the 2008 financial crisis, in an 8-1 Policy Board decision.
Indonesia's OJK Issues Regulation 30/2024 on Financial Conglomerates and Holding Companies
Indonesia's OJK issued Regulation No. 30 of 2024 governing financial conglomerates and holding companies, superseding OJK Regulation 45/2020 and implementing the P2SK Law.
HDFC Bank Reports Q3 FY2025 Net Profit of ₹16,736 Crore as NII Rises 7.7%
HDFC Bank posted Q3 FY2025 net profit of ₹16,736 crore, up 2.2% year on year, with net interest income of ₹30,650 crore as the bank continued managing its post-merger balance sheet.
Kasikornbank Posts THB 48.6 Billion FY2024 Net Profit, Up 14.6%, on Lower Credit Costs
Kasikornbank reported a 14.6% rise in FY2024 net profit to THB 48.6 billion as lower credit costs and stable net interest income offset cautious loan book growth.
Bangkok Bank Reports FY2024 Net Profit of THB 45.2 Billion, Up 8.6%, on Fair-Value Gains and Fee Growth
Bangkok Bank's full-year net profit rose 8.6% to THB 45.2 billion in 2024, lifted by a 14.4% rise in non-interest income driven by investment gains and card, bancassurance and fund fees.