April Wu

China Market Strategy

January 20, 2016

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Banking News This Week – Jan 20

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

1 – Philippines’ Coins.ph teams up with 7-Eleven to offer instant deposits

Bitcoin exchange and wallet service Coins.ph has announced that it is teaming up with convenience store chain 7­-Eleven to offer instant deposits across all 1,600 of its stores in the Philippines. >>

2 – Japan majors boosting presence in Asia

Japanese megabanks are boosting their mergers and acquisitions to expand their presence all over Asia. >>

3 -PH population attracts Japan’s biggest bank

Go Watanabe, the 57-year-old managing executive officer and chief executive for Asia and Oceania of Japan’s biggest financial group, is bullish about the Philippines, given its large and young population. >>

4 – Letshego buys FBN Microfinance Bank to pursue Nigerian expansion

The acquisition of FBN MFB marks Letshego’s entry into West Africa, having successfully built a footprint in East and Southern Africa with 265,000 customers across nine countries. This development brings Letshego’s footprint to ten countries, with a customer base of over 385,000; Nigeria, in particular, has been a key target market in Letshego’s diversification plans. >>

5 – South Africa: mobile penetration could boost SA financial inclusion

First National Bank (FNB) said the country needed to take advantage of its growing mobile penetration to protect current gains and further broaden access whilst reducing the cost of enablement. >>

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