April Wu

China Market Strategy

June 1, 2017

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Banking News This Week – Jun 1

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

1 – Indonesia’s Salim Group re-enters banking with local takeover

Indonesia’s largest conglomerate, Salim Group, has acquired a majority stake in a local bank, marking its first return to the banking business since the 1998 Asian financial crisis. >>

2 – More ASEAN banks eye PH investments

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor A. Espenilla Jr. said banks from three ASEAN countries are keen on scouting for investment opportunities in the country. >>

3 – Vietnam growing in appeal among global investors

With strong macroeconomic fundamentals, a stable political environment, and investment reforms aimed at attracting foreign investment, Vietnam has become a destination of choice in Southeast Asia. >>

4 – Mobile payments are catching on strong in Southeast Asia

Cash is still king in Southeast Asia, but may be dethroned sooner rather than later as the region embraces the cashless society using smartpones tied to mobile payment systems. >>

5 – M-Pesa mobile banking to cover more of Africa

Millions more smartphone users in Africa will now have access to basic banking services like borrowing and saving as the popular mobile financial service platform M-Pesa expands to cover more countries. >>

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