Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
People's Bank of China holds loan prime rates steady for third consecutive month in January 2025
The one-year LPR stayed at 3.10% and the five-year LPR at 3.60% at the 20 January fixing, leaving both benchmarks where the October 2024 cut had put them.
Vietnam's State Bank Advances Mandatory Transfer of DongA Bank to HDBank
The State Bank of Vietnam has announced the mandatory transfer of DongA Bank to HDBank as part of the SBV's long-running programme to resolve weak institutions under special supervision.
Vietnam's State Bank Directs VPBank to Acquire GPBank in Mandatory Transfer
Vietnam's State Bank has ordered VPBank to take over Global Petro Bank under a mandatory transfer, making GPBank a wholly owned subsidiary as part of the country's banking restructuring.
Ashok Chandra Assumes Charge as MD and CEO of Punjab National Bank
Ashok Chandra took charge as Managing Director and CEO of Punjab National Bank on 16 January 2025, bringing over 33 years of banking industry experience to India's second-largest public sector lender.
Bank Indonesia unexpectedly cuts policy rate to 5.75% to support growth
The central bank lowered the BI-Rate by 25 basis points on 15 January 2025, its first cut since September 2024, saying the timing was right to support economic growth.
GCash Lines Up Global Banks for Philippines PSE IPO That Could Raise Up to $1.5 Billion
GCash has lined up global banks for a Philippine Stock Exchange IPO that could raise up to $1.5 billion, people familiar with the matter said on 9–10 January 2025.
KB Kookmin Bank Inaugurates Lee Hwan-ju as CEO in South Korea Leadership Renewal
Lee Hwan-ju was inaugurated as CEO of KB Kookmin Bank on 2 January 2025, emphasising customer trust as South Korean banks undertook broad leadership changes.
Hana Bank Appoints Lee Ho-seoung as CEO
Lee Ho-seoung was inaugurated as CEO of Hana Bank on 2 January 2025, receiving the bank's banner and traditional fountain pen from outgoing head Lee Seung-lyul.
Australia's APRA Keeps Climate Risk in Focus as Mandatory Reporting Begins in 2025
APRA enters 2025 with climate risk oversight built on its CVA programme and CPG 229 guidance as mandatory climate reporting begins for large entities.
Philippines: Ana Maria Aboitiz-Delgado Takes the Helm as UnionBank President and CEO
Ana Maria Aboitiz-Delgado became President and CEO of Union Bank of the Philippines on 1 January 2025, succeeding Edwin Bautista.
Axis Bank's Amitabh Chaudhry Begins New Three-Year Term as MD and CEO from 1 January 2025
Amitabh Chaudhry's reappointment as Axis Bank MD and CEO, approved by the board in April 2024 and by the RBI in October 2024, took effect on 1 January 2025 for a further three-year term.
Japan FSA Orders AEON Bank to Improve Operations After Thousands of Flagged Transactions Left Unreviewed
Japan's FSA has issued a business improvement order to AEON Bank after finding 14,639 flagged transactions were left unreviewed and its reporting lag for suspicious transactions peaked at a monthly average of 152 days.