April Wu

China Market Strategy

June 5, 2014

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Banking News This Week – June 05

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

1 – Banco do Brasil opens first China branch

Banco do Brasil, the largest financial institution in Brazil and Latin America, opened in Shanghai its first branch in China on May 30, aiming to cash in on the strengthening China-Brasil economic ties. >>

2 –  Chinese banks advised to target retail banking

Chinese banks should develop retail banking to make it a bigger source of profit, according to a report issued by consulting firm McKinsey & Company on Thursday.In China, corporate banking has long been prioritized over private customers, with the banks favoring large clients. >>

3 –  South Africa Probably Won’t Enter Recession:Reserve Bank

South Africa’s economy probably won’t fall into recession even as a strike at the three biggest platinum miners enters its fifth month, Reserve Bank Governor Gill Marcus said. >>

4 – Banks outweigh rivals in mobile payments: report

China’s behemoth banks beat their nimble young challengers in handling mobile payment business with fewer transactions, but of greater value.>>

5 – Special report: Africa’s rising investment potential

Africa is slowly emerging as an economic powerhouse, with demographics to rival China. But a lack of basic infrastructure, combined with political governance issues, means some investors are reluctant to approach it. Annabelle Williams travelled to Ghana to decipher the investment possibilities of the continent. >>

 

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