April Wu

China Market Strategy

July 16, 2014

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Banking News This Week – Jul 16

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

1 – Shanghai most likely headquarters for BRICS development bank

A Reuters report said Shanghai is most likely to become the headquarters of a development bank being launched by the BRICS emerging market nations, citing Russian presidential adviser Yuri Ushakov. >>

2 – Africa’s Five Largest Markets By 2020

A number of analyses suggest that the largest African markets in 2020 will be Alexandria, Cairo, Cape Town, Johannesburg and Lagos. Each of these markets are likely to have more than $25 billion every year in spending and can be comparable to Mumbai or New Delhi in India.The consumer facing sectors in Africa will largely be responsible for this growth, these sectors include the likes of telecommunications, consumer goods and banking. >>

3 – CIMB seeks merger to become region’s No. 4

MALAYSIA’S CIMB Group Holdings is seeking a merger with two domestic lenders which would catapult it into becoming the country’s largest banking group in terms of assets and South-east Asia’s fourth biggest behind Singapore’s top three banks. >>

4 – Africa: Rapid Growth in Mobile Money

The mobile money landscape is becoming increasingly competitive, and this is especially true in Sub-Saharan Africa where mobile money is already available in 36 of 47 countries in the region. [For one example], Tanzania has witnessed unprecedented uptake of mobile financial services (MFS) in the span of five years. >>

5 -Emerging Markets Mobile Banking Runs Ahead Of Google Wallet

Mobile phones have changed banking faster in emerging markets than in developed countries, so they may provide an indication of where hot tech like the Google Wallet might go if it ever catches up with South Africa, Kenya or Bangladesh. Banks in emerging markets are using mobile phones to extend their services to existing customers and to provide banking connectivity to individuals with no previous banking relationship. >>

Also worth reading:
Will Mobile Banking End Branches?
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia