Asia-Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
APRA Implements Financial Accountability Regime for Australian Banking Industry from March 2024
Australia's FAR replaced the Banking Executive Accountability Regime from 15 March 2024, strengthening personal accountability for senior bank executives under joint APRA-ASIC enforcement.
Australia's AOFM Announces Inaugural 10-Year Green Treasury Bond for Mid-2024 Issuance
The Australian Office of Financial Management announced Australia's first sovereign green bond, a 10-year June 2034 instrument aligned with ICMA Green Bond Principles.
Muhammad Nassir Salim Appointed President and CEO of Pakistan's Habib Bank Limited
Muhammad Nassir Salim took over as President and CEO of Habib Bank Limited in March 2024, succeeding Muhammad Aurangzeb who left to serve as Pakistan's Federal Finance Minister.
Thailand's SCBX Signs Agreement to Acquire 100% of Home Credit Vietnam for Approximately USD 851 Million
An SCBX subsidiary has signed a share purchase agreement to buy Vietnam's second-largest consumer finance platform from Home Credit NV in a deal worth around USD 851 million.
Bank of Korea Holds Base Rate at 3.50% for Ninth Consecutive Meeting Amid Household Debt Concerns
The Bank of Korea kept its base rate at 3.50% for a ninth straight meeting in February 2024, citing elevated household debt and housing market risks.
China Cuts Five-Year Loan Prime Rate by Record 25 Basis Points to 3.95% to Support Housing Market
China's five-year LPR was reduced from 4.20% to 3.95% in the largest single reduction since the rate was introduced, while leaving the one-year rate unchanged at 3.45%.
Turkish Fintech Unicorn Papara Reportedly Set to Acquire Pakistani Digital Wallet SadaPay in $30–50 Million Deal
Papara, Turkey's first fintech unicorn, is reportedly in advanced talks to acquire Pakistani digital wallet SadaPay in a deal valued at between $30 million and $50 million.
RBI Extends Paytm Payments Bank Deadline to 15 March 2024 in Larger Public Interest
India's central bank granted Paytm Payments Bank a two-week extension to 15 March 2024, while confirming that the ban on new deposits and credits will apply after that date.
Reserve Bank of India Holds Repo Rate at 6.50% for Sixth Consecutive Meeting in February 2024
The RBI's Monetary Policy Committee kept the repo rate at 6.50% for a sixth straight meeting and maintained its withdrawal-of-accommodation stance.
NAB Appoints Andrew Irvine as Group CEO to Succeed Ross McEwan from April 2024
National Australia Bank has named Andrew Irvine, its Group Executive for Business and Private Banking, as Group CEO effective 2 April 2024, succeeding the retiring Ross McEwan.
HDFC Bank Issues USD 300 Million Sustainable Finance Bond to Fund EV Lending, SMEs, and Affordable Housing
HDFC Bank launched its first sustainable finance bond, raising USD 300 million to fund electric vehicle loans, SME lending, and affordable housing as part of a USD 750 million offering.
DBS posts record SGD10.3 billion net profit for 2023 as total income tops SGD20 billion
Singapore's largest bank lifted full-year net profit by 26% on a wider net interest margin and higher fee income, and proposed a one-for-ten bonus share issue.