April Wu

China Market Strategy

January 6, 2016

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Banking News This Week – Jan 6

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

1 – E-money seen as new area for revenue growth

JAKARTA — From palm oil growers in West Sumatra, vendors in a traditional market in Central Java, to Facebook gamers in Jakarta — Indonesia’s top lender Bank Mandiri is reaching out to different segments in the community to promote its latest electronic money product, Mandiri e-Cash. >>

2 – Philippines banks down to 635 in September

MANILA, Philippines – The number of banks operating in the Philippines declined 2.6 percent in the first nine months of last year with the exit of weak players particularly rural banks. >>

3 – BSP approves 125 new bank branches, offices

The Bangko Sentral ng Pilipinas (BSP) has approved the opening of 125 more bank branches as well as offices across the country. >>

4 – Bank of Africa to begin operations in Cameroon – Sources

The Pan-African banking group, Bank of Africa (BOA) could begin operations in Cameroon in the next few weeks, its application for authorization to open a subsidiary in the largest economy of Central Africa being on the “right track”. >>

5 – UBA unveils new advanced mobile banking platform

One of the key features of this new platform is the market place, which allows small businesses to own a virtual store. Cardless transactions will also be intro­duced to ensure that U-Mobile customers can withdraw money from UBA ATMs even without their payment cards. >>

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