Banking


HSBC to focus on wealth management across Asia

HSBC to focus on wealth management across Asia

(ATF) HSBC plans to plough $6 billion into its operations across Asia and focus on targeting wealth management in the region where it makes most of its profit.Europe's biggest bank reported a 30% plunge in profit for 2020 – $6.1 billion after tax, a result that stemmed mainly from the …

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Regulators to press Chinese tech giants to share credit data 

Regulators to press Chinese tech giants to share credit data 

China plans to push tech giants including the Ant Group, Tencent and JD.com to share their consumer loan data in an effort to prevent excess borrowing and fraud.The plan, if implemented, would effectively end the government's laissez-faire approach to the industry, sources claim. Up until now, large internet platforms have …

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DBS Group Holdings banking on digital assets exchange

DBS Group Holdings banking on digital assets exchange

DBS Group Holdings, South-east Asia's biggest bank, is to set up an exchange for digital assets, including cryptocurrencies.The DBS Digital Exchange will use blockchain technology to provide a platform for fundraising through asset tokenisation and secondary trading of digital assets, the bank said in a statement on Thursday.The tokenisation process …

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Change is coming for Chinese banks and foreign banks in China

Change is coming for Chinese banks and foreign banks in China

(ATF) With China’s banking industry increasingly operating abroad and foreign banks moving into China, a top official in the country has said a new regulatory body should be set up to manage this more global banking structure.China's financial services will need to move from institutional supervision to functional oversight, in …

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HSBC: Caught in the crossfire

HSBC: Caught in the crossfire

(ATF) HSBC has been performing a dance between America and China. After all, it is a truly international bank that is caught in the crossfire of a widening conflict that spans across trade, tech and finance. It is not the only one out there, but its global exposure has probably …

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