April Wu

China Market Strategy

July 30, 2014

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Banking News This Week – Jul 30

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

1 – Tencent gets official approval to create private bank in Qianhai

Tencent Holdings received formal approval from the China Banking Regulatory Commission yesterday to set up a private bank in Shenzhen’s Qianhai special economic zone, putting the internet company in a position to compete head-to-head with rivals in mobile bank services. >>

2 – Banks await big decision

Top Thai lenders seen as front-runners among 25 contenders for foreign bank licences in Myanmar. The central bank announced earlier this year that it would issue licences to five to 10 foreign banks. It has prepared a list of 25 potential entrants comprising four Thai banks, three each from Singapore,South Korea, Taiwan, Malaysia and Japan, and one each from China, France, Australia, Mauritius, India and Vietnam. >>

3 – Mobile banking revolutionising personal finance in Africa

Across the world more and more people are using mobile banking services and nowhere more so than in Africa. Seven out of ten Africans have access to a mobile network and the surge in mobile banking has had a big impact on the continent’s economic growth. >>

4 – Philippines’ bank liberalisation increases investment appeal

The liberalisation of the banking sector in the Philippines has made the already attractive investment destination even more appealing, especially with word of new plans to restrict foreign ownership of local banks in the current preferred expansion market for banks in Indonesia. >>

5 – FDI surge driven by banking

Foreign direct investment (FDI) in Thailand’s banking and manufacturing sectors has recorded strong growth as foreign investors aim to use the kingdom as a springboard for regional expansion, says Deloitte Touche Tohmatsu Jaiyos Co. >>

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