Banking and financial services

Banking and financial services policy and regulation

After 50 years, Asian Development Bank looks ahead

The Asian Development Bank set out its strategy for the next decade during the launch of its 50th annual meeting in Japan over the weekend, while also recognising the challenges that remain for the 300 million people still living in poverty in Asia. Addressing the ...

Acleda profiting in foreign markets

Acleda Bank’s foreign operations in Laos and Myanmar performed well during the first quarter of 2017 while recording strong net profits last year, leading the bank to seek further regional expansion, according to a senior executive. Acleda has 41 commercial branches in Laos and six MFI ...

MADB’s ministry relocation aims to improve efficiency

Myanmar Agricultural Development Bank, the only state-owned bank in the agriculture sector, was under the Ministry of Agriculture, Livestock and Irrigation. But from now on, the institution has been relocated to the Ministry of Planning and Finance which will make loan processes more efficient, according ...

Big Thai banks post profit rise for three straight quarters

Thailand’s four largest banks by assets saw their combined net profits rise for the third consecutive quarter in January to March, helped by lower provisioning for future defaults. Although this is a sign that lenders foresee an improvement in Thailand’s long sluggish economy, some analysts ...

World Bank to loan $100 million to Myanmar financial development project

World Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich ...

Ten banks see profits rise 8%

Ten banks have announced that their combined net profit in the first quarter of this year was Bt55.71 billion, up 8 per cent from the same period of last year, thanks to increases on both interest and non-interest income. Most of their non-performing-loan ratios in ...

Observe 10 prohibitions or face punishment, finance officials warned

Finance officials are being warned to observe the newly imposed so-called 10-prohibition rule or be subjected to disciplinary measures and punishment under law. Deputy Prime Minister and Minister of Finance Somdy Duangdy on April 10 issued a decision that imposed 10 prohibitions demanding officials follow ...

Banking shows steady growth

Cambodia’s financial sector saw healthy growth last year with increased deposits and profits amid slower credit growth, reflecting sustainable development and increased public confidence in the sector, according to a recently released central bank report. According to the National Bank of Cambodia’s (NBC) annual supervisory ...

BOT urges hedging against currency risk

Bank of Thailand governor Veerathai Santiprabhob on April 19 urged exporters to hedge against volatility in the value of the baht as the country faced the prospect of trade protectionism against the backdrop of tensions on the Korean Peninsula – with “unpredictable” outcomes from the latter. “Geopolitical ...

Asianface director reportedly involved in business fraud in Cambodia

Investors in an allegedly fraudulent scheme offered by the Asian Face company are increasingly concerned after the involvement of its operator in similar activities in his home country were revealed. Currently in police custody in Laos over his Asian Face Company Ltd’s alleged illegal capital ...

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