April Wu

China Market Strategy

August 6, 2014

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Banking News This Week – Aug 6

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

1 – Singapore’s GIC bets on emerging market tech investments

Singapore sovereign wealth fund GIC Private Ld believes emerging markets now offer better value than developed ones and is particularly interested in exploring increasing investments in their technology sectors, a senior fund executive said. >>

2 – Online bill payment garners popularity

The Viet Nam Business Forum magazine quoted a source from the State Bank of Viet Nam as saying that more than 20 banks in Viet Nam are offering services like paying of electricity and phone bills and taxes on behalf of enterprises and individuals to save time and costs. >>

3 – Bank mergers in Malaysia get difficult

MERGER fever has definitely hit the banking sector. Assuming the three-way merger of CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) goes ahead, then more marriages are going to take place in the sector. The aim is to create regional giants. >>

4 – Banking for everyone: Africa’s next big challenge

oday in Africa only one person in 10 has access to banking services. This may be because of a lack of revenue, irregular wages or the peculiarities of a cash economy. So, while Africa’s economic development is on course, the next big challenge for the continent is getting people into the banking system. >>

5 – Barclays Africa eyes Nigerian target as earnings rise on Investment

Barclays Plc’s South African unit says it is eyeing expansion in Nigeria as first-half profit climbed 10 percent after investment banking earnings increased and credit impairments fell. >>

Also worth reading:
Will Mobile Banking End Branches?
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia