April Wu

China Market Strategy

April 15, 2015

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Banking News This Week – Apr 15

The top 5 banking news stories in emerging markets this week.

1 – Mobile payment methods are game changer for Africa

Nairobi residents send money through m-pesa. According to a survey, sub-Saharan Africa is home to 53 percent of live mobile money services in the world. >>

2 – Survey shows over a third of Malaysian firms plan to use Renminbi in future

Thirty-four per cent of firms in Malaysia plan to use the Renminbi (RMB) in the future, according to a new survey by HSBC Commercial Banking. >>

3 – Ernst&Young: Vietnam needs only five major banks

(Media Interview) Keith Pogson, senior officer of banking and financial services of Ernst&Young Asia Pacific, spoke with the media last week in Vietnam about the banking situation in the country. >>

4 – Chinese banks’ earnings unlikely to improve in 2015

The banks’ earnings will be challenged by deteriorating asset quality and net interest margins (NIM) that in 2015 will further feel the effects of stiff competition for deposits and on-going deregulation of deposit rates – the latter being especially true for mid-tier banks. >>

5 – Alibaba Group Holding Ltd, Tencent Holding Lead The New Banking Wave In China

The battle between China’s biggest Internet companies, Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holding Ltd (OTCMKTS:TCEHY) will get only fiercer from here, as the duo will compete on a new front – online banking. >>

Also worth reading:

Mobile Banking Boom In Emerging Markets
(Video)Doing Business In Emerging Markets – Banking Sector
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia