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India’s SBI sees 14%-15% corporate credit growth in FY23

INDIA’S largest lender State Bank of India (SBI) expects corporate loans to grow at a pace of 14 per cent to 15 per cent this financial year and at about 12 per cent on average over the next two years, a top executive from the bank said on Wednesday...

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G20 pledges to calibrate pace of interest rate hikes, limit spillovers

Leaders of the G20 said on Wednesday (Nov 16) that their central banks will continue to calibrate the pace of monetary policy tightening, and to do so in a way that limits “cross-country spillovers”.

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Zurich Insurance sets more ambitious financial targets

Zurich Insurance Group set more ambitious financial targets for the next three years on Wednesday (Nov 16) as insurers benefit from rising premium rates.

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Binance chief Zhao says much interest in crypto recovery fund

BINANCE Holdings’ chief executive officer Changpeng ‘CZ’ Zhao claimed there was a lot of investor interest in a crypto industry recovery fund he plans to set up.

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China banks face 1.5t yuan in losses from property, UBS says

CHINA’S property slump is estimated to cost the nation’s banking system as much as 1.5 trillion yuan (S$291 billion) in losses on loans, bonds and other assets, according to UBS Group.

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Fierce peso defence shows 1997 crisis still haunting Philippines

AN intense battle to stem currency declines in the face of dollar strength is reminding some emerging markets of the trauma inflicted by the 1997 Asian financial crisis. Just ask authorities in the Philippines.

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OCBC offers fixed deposit placements for CPF ordinary account savings at 3.4% a year

COMPETITION for cash has gone beyond the savings in customers’ bank accounts, OCBC is now asking Central Provident Fund (CPF) members to place their ordinary account savings for fixed deposit at 3.4 per cent per annum.

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DBS opens representative office in Bangladesh

DBS on Wednesday (Nov 16) said it will open a representative office in Dhaka, Bangladesh and has appointed Tahsina Banu as chief representative.

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JPMorgan seeks to grow in buyouts after rivals lost billions

JPMORGAN Chase & Co is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars.

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Purpose-bound money, still searching for its purpose

AT the recent Singapore Fintech Festival (SFF), I bought lunch for myself using some digital Singapore dollars. The experience was rather underwhelming – it reminded me of the process of using the digital Community Development Council (CDC) vouchers, except it was more unwieldy.

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