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PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia), the biggest locally incorporated foreign bank in terms of asset size and branch network, is beefing up its Islamic banking business and eyeing regional opportunities.
TWO decades since the 1997/98 Asian Financial Crisis (AFC), the regional banking landscape has changed much, especially in the last few years with the emergence of online and mobile banks, as well as peer-to-peer lending and payment practices.
PETALING JAYA: Several banking stocks have risen over the past few trading days with dealers attributing the interest to local funds buying on weakness. Counters such as Malayan Banking Bhd (Maybank), CIMB Group Holdings Bhd and AMMB Holdings Bhd saw their shares rose 2.83%, 2.42%, 6.5% since May 31. Interest has picked up in these counters despite the overall unexciting outlook for the banking industry this year.
BEIJING: China will step up oversight in the banking sector this year to reduce financial risks, the country’s banking regulator said, stressing that long-term efforts would be needed to control banking sector chaos.
KUALA LUMPUR: Bank Islam Malaysia Bhd aims to grow its mobile banking customer base from the current 900,000 users to two million by 2019. This is following the bank’s strategic collaboration with US-based global business and technology consulting firm Cognizant to develop financial technology (fintech) products within Bank Islam’s network.
HONG KONG: Hong Kong has issued online-only banking licences to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake up in years in the city's retail banking sector dominated by old-guard lenders.
KUALA LUMPUR: With a share capital of about RM1.58bil, the highest among foreign banks operating in Malaysia, Sumitomo Mitsui Banking Corp Malaysia Bhd (SMBC Malaysia) is in a comfortable position to provide bigger loans to Malaysian corporates as the bank strategises its business.
FOR some time now, it has been an accepted fact that on going efforts in the local banking consolidation scene seems to only involve local players.
KUALA LUMPUR: The founder and chairman of Public Bank, Tan Sri Teh Hong Piow has been honoured by the State Bank of Vietnam for his manifold contribution to the development of the country's banking industry.
KUALA LUMPUR: RHB Bank Bhd is eyeing the top three spot in the Islamic banking space for its syariah complaint unit, with a three-year aim to rapidly boost its profits and asset size.