April Wu

China Market Strategy

September 16, 2015

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Banking News This Week – Sep 16

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

1 – Charting a course in mobile banking

The floating bank is the brainchild of Bank Rakyat Indonesia (BRI), which wants to offer banking and loan services to residents on remote islands belonging to the Thousand Islands province, north of Jakarta. >>

2 – Banks rush to ask for higher foreign-ownership rate

VietinBank, one of Vietnam’s largest commercial banks, is considering raising the foreign ownership ratio to 40 percent. If the bank’s proposal is approved by the State Bank of Vietnam (SBV), it will be the first bank with a foreign ownership of over 20 percent. >>

3 – Bankers target Africa

Standard Bank has sealed a cooperation agreement with South Korea’s Woori Bank and the Industrial and Commercial Bank of China (ICBC) to promote an African focused business venture among the three entities. >>

4 – African banking must innovate to compete

Mainly, these centered on coping with the transition to digital, the need to change their business models, ensuring revenue on transactions and competing with a growing number of non-traditional entrants to the banking market. >>

5 – (Video) Extending banking services to low income sectors

Around 70 per cent of Malawi is unbanked which presents financial institutions with a large market to tap into. But there are high risks associated with extending banking services to low income sectors. >>

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