April Wu

China Market Strategy

December 9, 2015

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Banking News This Week – Dec 9

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

1 – China Bank to open 11 branches in December

Philippines — China Banking Corporation is set to open 11 more branches in major business districts in Metro Manila next month, in a bid to expand its presence and reach more clients. >>

2 – WeChat launches its peer-to-peer mobile wallet in South Africa, no bank account required

Chinese Internet giant Tencent this week rolled out WeChat Wallet, an ewallet that lives within the main WeChat mobile messenger app, in South Africa. >>

3 – South Africa: Banks failing to exploit online, mobile

According to the study the majority of banks (87%) perform less than 10% of sales via digital, and for one in five banks, this figure falls to less than 1% of sales. >>

4 -Banks still some way from leading mobile revolution

As part of efforts to be at the frontline of the mobile revolution, banks are launching new apps to promote the use of mobile banking among customers. However, they still have some way to go, with consumers looking for more and better features. >>

5 – Banking on Asean banks to step up with AEC

Local banks looking to grow over the long term are prone to look to the regional South-east Asian or Asean market. While it has not always been easy for banks to expand in the region, the launch of the Asean Economic Community (AEC) by the year end will change things for the better. >>

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