April Wu

China Market Strategy

July 15, 2015

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Banking News This Week – Jul 15

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

1 – Citibank seeks go-ahead to boost Vietnam presence

Citibank NA, a unit of Citigroup Inc (C.N), said it will get the go-ahead soon from Vietnam’s central bank to set up a subsidiary in the country, which would make it the seventh wholly foreign-owned lender to operate in Vietnam. >>

2 – Siam Commercial Bank to open branch in Vietnam

Thailand’s Siam Commercial Bank (SCB) is allowed to establish its branch in Vietnam. The Prime Minister has approved the State Bank of Vietnam (SBV)’s proposal to let SCB establish its Vietnam branch on the acquisition of VinaSiam Bank (VSB). >>

3 – Vietnam bans banks with high bad debts from expanding

Commercial banks in Vietnam are not allowed to expand their networks until they can keep bad debts under 3 percent of total outstanding loans, a new rule indicative of the government’s increased resolve to address its toxic debt problem. >>

4 – Two African business giants go head-to-head over mobile telecoms and payments

Few firms have done more in recent years to boost Africa’s fortunes than Safaricom. It has built the world’s most widely used mobile-money network, called M-Pesa, bringing financial services to the poorest. >>

5 – Investing in Women is Vital to Ending Poverty, Boosting Needed Growth

Closing persistent gender gaps is vital to boosting sustainable growth and ending poverty by 2030, World Bank Group President Jim Yong Kim said Tuesday, calling for scaled-up efforts to expand women’s access to good jobs, assets, and infrastructure. >>

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