April Wu

China Market Strategy

December 3, 2014

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Banking News This Week – Dec 3

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

1 – Citigroup Sees Asia Digital Users Doubling in Revenue Hunt

Citigroup Inc. (C) expects to double digital-banking users in Asia in the next five years, helping the third-biggest U.S. lender by assets boost client accounts and revenue without the cost of setting up branches. >>

2 -Many world business clients unhappy with banks

Nearly a third of companies (29%) experienced an error with their primary bank in the past 12 to 24 months; and more than half (57%) were less than highly satisfied with the resolution, according to EY’s global commercial banking survey. This poor service is pushing businesses to look for alternatives—be that moving their primary accounts to a rival bank or moving certain services to a nonbank. >>

3 – Mark Mobius: Why Africa is the next emerging-markets success story

Mobius:There is a need for banking services (particularly mobile banking) and penetration of telecommunications in many African countries is very low.  >>

4 -Bank on poor women and phones to drive growth in Africa, experts say

NAIROBI: Mobile phone technology can help to bring financial services to the 80% of African women who do not have a bank account and bolster the growth of the world’s poorest continent, Nigeria’s finance minister, Ngozi Okonjo-Iweala, said. >>

5 -Mobile money transactions hit N430bn

The Central Bank of Nigeria (CBN) has said that mobile money transactions in the country has since inception in 2012 risen to N430 billion with N14 million transactions on a monthly basis. >>

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