Banking & Fintech.
South Korean Banks Face Cyberattacks, Regulators Order Security Checks
Seven financial firms, including Shinhan Bank and Yegaram Savings Bank, reported data breaches affecting tens of thousands of clients, prompting an emergency regulatory response.
WIDTH Named Pan Asian RegTech Provider at Singapore Awards
The compliance technology firm received the accolade at the ALB Pan Asian Regulatory Awards 2026, marking its 12th year in the industry.
HKMA Licenses Kyrgyzstan’s Bakai Bank for Hong Kong Operations
Kyrgyzstan's Bakai Bank will operate as Hong Kong's 17th restricted licence bank, targeting corporate and merchant clients with deposits starting at HK$500,000.
Philippine Banks' Bad Loan Ratio Steady at 3.35% in August
The Bangko Sentral ng Pilipinas reported a stable non-performing loan ratio for August 2026, as the banking sector's overall lending growth outpaced new problem accounts.
Citi Appoints New Japan M&A, Sponsor Coverage Heads
The US banking giant's investment banking division has named Hajime Higuchi to lead mergers and acquisitions, and Yoshinobu Agu for sponsor coverage in the Japanese market.
MB Bank, OceanBase partner for database upgrade in Vietnam
Vietnam's MB Bank signed a pact with OceanBase on 2 October 2026 to enhance its core database, aiming for greater system resilience and scalability for digital banking.
Ping An Bank adopts AI rules, setting China banking benchmark
The Shenzhen-listed lender's board approved new management measures for artificial intelligence, a first among mainland institutions, following regulatory pressure for oversight.
South Korea's FSC Mandates Bank Security Checks After Cyberattacks
The Financial Services Commission on Friday, October 2, directed all banks and credit card firms to review IT systems following data breaches at Shinhan Bank and KB Kookmin Bank affecting thousands of customers.
Trust Bank turns profitable in 3.5 years, CEO cites tech and referrals
Singapore's digital bank, a joint venture of Standard Chartered and FairPrice Group, reported $135 million in income for FY2025, achieving profitability earlier this year.
China Bank Savings supports 1,200 Philippine educators, offers P50,000 accounts
The Philippine thrift bank provided financial wellness training last month and will award vehicles, including two Mitsubishi Mirages, on October 5.
GXBank Targets 2028 Profit Amid Loan Growth, Asset Cap Review
The Malaysian digital bank reported a wider first-half net loss of RM122.1 million in 2026, while securing an IFC risk-sharing agreement for MSME lending.
Deutsche Bank appoints Philippines country chief, corporate head
Vikas Arora assumes leadership as Philippines Chief Country Officer, succeeding Dino Siason in the Manila-based role for the German lender.
SFA, KPMG: Governance Slows Asia RegTech Cloud Adoption
A new report from the Singapore FinTech Association and KPMG reveals operational and accountability issues, not technology, slow financial institutions scaling cloud-based RegTech in Asia-Pacific.
SBI, HDFC Bank branches close today, open Sunday ahead of strike
Major Indian private lenders and public sector banks will see varied operations this weekend, with a nationwide labour action planned for next week that could disrupt services.
RBI Fines KLM Axiva Finvest ₹2.70 Lakh for Auction Rule Breach
India's central bank penalised the non-banking financial company (NBFC) for failing to return surplus funds to borrowers after auctioning pledged gold.
Futu Securities Leads Hong Kong Digital Firms' Branch Push
Online brokerages and digital banks are opening physical branches in Hong Kong, with Futu Securities International establishing a 42,000 square foot global headquarters in Pacific Place.
Deutsche Bank Private Bank to Grow Asia Wealth Teams
The German lender seeks experienced relationship managers and client teams across Asia to achieve double-digit growth in its high-net-worth segment.
DBS CEO Tan Su Shan Cites S$9.64 Million Pay Gap in Politics Refusal
Tan Su Shan, DBS's chief executive, earned S$9.64 million in 2025, a figure sharply contrasting with Singapore's new S$1.8 million annual ministerial salary for entry-level roles as the government seeks private sector talent.
OCBC, Bank of Ningbo Extend Alliance for 10 Years Amid Trade Growth
The Singaporean lender, a 20% shareholder in Bank of Ningbo, will continue a US$5 million training grant to support cross-border business between ASEAN and Greater China.
Shinhan Bank Secures Incheon’s KRW 14.45 Trillion Treasury Account
Shinhan Bank will manage Incheon Metropolitan City’s main public funds until 2030, extending its nearly two-decade hold after fending off rival Hana Bank for the significant contract.
DBS Expands Gold Storage as SGX Prepares Gold Clearing
DBS has increased its Singapore gold storage capacity following client demand, ahead of the Singapore Exchange's planned launch of an over-the-counter gold clearing system by late 2026.
Singapore's covered bond market reaches S$29.8 billion
The Monetary Authority of Singapore reported that new issuance reached a record S$11 billion in 2025, with the market growing 15% annually since 2021.
Marex Names Robert Cheeseman Asia Prime Services Head
London-headquartered financial services firm Marex appointed Robert Cheeseman as its Asia head of prime services. He will operate from Hong Kong, bringing experience from HKEX and major banks.
Morgan Stanley: Singapore, Hong Kong Banks Gain Most From Asia Capital Markets
Singapore and Hong Kong financial institutions will capture the largest gains as Asia's capital markets deepen in the second half of this year, Morgan Stanley analysts forecast. Regional wealth accumulation drives this shift from traditional deposits to diverse financial assets.
China Securities Association Proposes Offshore Pay Clawbacks
China's Securities Association seeks feedback by September 29 on draft rules introducing pay clawbacks and integrity reporting for brokerages' overseas operations.
RBI Drafts Rules for Indian Banks on Cyber Fraud Debit Holds
The Reserve Bank of India issued draft amendments on 11 September, outlining procedures for commercial and co-operative lenders to temporarily freeze accounts linked to financial fraud.
KB Financial Group names Lee Jae-keun chairman nominee
Korea's largest financial group, KB Financial Group, has nominated Lee Jae-keun, 60, as its next chairman, an unexpected move over the incumbent that signals a focus on new growth strategies.
Cake Digital Bank wins Euromoney's Vietnam Best Digital Bank 2026 award
The Vietnamese lender, operating for nearly six years, reported profitability in mid-2024 and serves over 7.6 million customers through its digital platform.
Nam A Bank secures $30 million Proparco green finance for Vietnam
The five-year credit facility supports renewable energy, energy efficiency, and other green projects, boosting Nam A Bank's lending capacity across Vietnam.
DBS CEO Tan Su Shan: Bank to focus on Asia, not global expansion
South-east Asia’s largest bank will prioritise regional wealth management, capital markets, and trade, acknowledging US market dominance.
State Street names Tim Helyar as new Asia Pacific chief
Mr Helyar moves to Hong Kong from Sydney, taking over the regional leadership role from Lochiel Crafter at the US global banking giant.
Nextbank, Mount Carmel Rural Bank Launch Mobile Banking
Philippine banking tech firm Nextbank expanded its partnership with Mount Carmel Rural Bank Inc. (MCRBi). MCRBi will adopt Nextbank's Mobile Banking Solution, enhancing digital access for customers in the Calabarzon region.
Crédit Agricole CIB Names Nicolas Vix Apac Regional Officer
Crédit Agricole CIB appointed Nicolas Vix as its Asia Pacific senior regional officer, effective today. He replaces Jean-François Deroche, operating from Hong Kong.
Societe Generale Names Sasai Japan Global Markets Head
Societe Generale has appointed Tomoyuki Sasai as its Head of Global Markets for Japan, effective September 1, 2026. He takes over from Marc Saffon, who now serves as the bank's Japan Country Head.
China's 6 State Banks Post H1 Growth, First Since 2022
China's six largest state-owned banks recorded their first simultaneous revenue and net profit growth in the first half of 2026 since 2022, signalling a tentative rebound in net interest margins.
Techcombank CEO Jens Lottner's H1 2026 Pay Rises 29 Percent
Techcombank Chief Executive Jens Lottner collected US$650,000 (VND16.9 billion) during the first half of this year, a 29% increase from the prior year period. The bank's financial statements reveal total remuneration for its board and CEO also rose.
ASEAN Fintech Grapples With AI Skill Shortage, ADB Report Finds
A new report from the Asian Development Bank (ADB) and Global Fintech Institute (GFI) reveals a significant shortage of artificial intelligence (AI) skills across Southeast Asia’s financial technology sector. This deficit is most pronounced in Indonesia and Vietnam, despite both countries showing rapid AI adoption rates.
Singapore Asset Management Seeks Regulatory Clarity
Singapore's asset management sector is pressing for clearer, faster rules on new government initiatives. Firms need specific details on eligibility, scheme operations, and tax treatment to drive investment decisions amidst competition from Hong Kong.
UOB Prices €1 Billion Euro Covered Bond, First From Asia
Singapore's UOB completed a landmark €1 billion euro-denominated covered bond offering, becoming the first Asian issuer to do so. Strong investor demand allowed the bank to achieve tighter pricing for both two-year and five-year tranches.
UOB vs Lippo Marina: Singapore Court Quadruples Damages to S$76.1M
Singapore's Appellate Division of the High Court significantly increased damages awarded to UOB against developer Lippo Marina Collection for fraudulent housing loan disbursements.
Philippine Supreme Court Rejects BDO Unibank Claim, Cites Bank Negligence
The Philippines' Supreme Court denied BDO Unibank's bid to reclaim funds, ruling the bank's gross negligence caused the loss. The decision establishes banks cannot recover money when their own operational errors lead to premature withdrawals.
Green Link Digital Bank Posts S$16.1 Million Profit in FY2025; GXS Bank Records S$132 Million Loss
Singapore’s digital banking sector shows varied financial results for FY2025. Green Link Digital Bank (GLDB) achieved profitability, while GXS Bank, MariBank, Trust Bank, and ANEXT Bank reported significant losses.
JP Morgan Upgrades UOB to Neutral, Maintains DBS Neutral
JP Morgan has upgraded UOB to neutral from underweight, citing attractive valuations and improving asset quality. The bank maintains a neutral rating on DBS and an underweight stance on OCBC, based on its August 23 analysis.
Indian Banks Face Up To Four-Day Closures This Week
India's banks will close for up to four days between 24 and 30 August, according to the Reserve Bank of India. Digital banking services remain operational, mitigating disruption.
Global Banks Slash 70,000 AI-Linked Jobs This Year
Financial services firms, led by major global banks, have eliminated over 70,000 roles linked to artificial intelligence this year, an eight-fold increase from 2025.
Peter Seah exits National Wages Council; DBS begins chairman search
Peter Seah, 79, stepped down as Singapore's National Wages Council chairman on August 19 for personal reasons. DBS Group Holdings has now commenced a search for a successor to its long-serving chairman.
Singapore FinTech Association Refreshes Advisory Council
Singapore's FinTech Association appointed four new members to its Strategic Advisory Council, bringing expertise in public-private partnerships, banking, investment, and industry development.
Singapore Private Bank Onboarding Still Takes Months Despite MAS Goal
Wealthy clients in Singapore still face lengthy private bank account opening times, often taking months. This persists despite a Monetary Authority of Singapore-backed industry target to complete most onboarding within a month by end-2026.
Peter Seah Steps Down as Singapore National Wages Council Chairman
Veteran banker Peter Seah has relinquished his chairmanship of Singapore's National Wages Council. He continues to lead DBS Group and Singapore Airlines boards.