Banking and financial services
Major banks
Asian firms increase footprint with Myanmar MFI expansion
Thai-listed firm Group Lease has brought a majority stake in BG Microfinance Myanmar, with plans to invest almost US$7 million into the business and ramp up the number of branches. Korean credit card firm Shinhan Card, meanwhile, is preparing to start its own microfinance services ...
Bank of China to expand operations in Cambodia
Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said on September 6. Chen Chang Jiang, CEO of Bank of China Phnom Penh ...
Businesses urged to hedge baht in face of volatility
Business leaders have expressed concerns that the rapidly appreciating baht could dampen exports and suggest business operators hedge foreign exchange risks. The monthly meeting of the Joint Standing Committee on Commerce, Industry and Banking on September 5 heard the disquiet over the increasing volatility of foreign exchange. ...
Banks pump billions into deforestation-linked firms in Southeast Asia: study
Banks have financed companies responsible for rainforest destruction in Southeast Asia to the tune of billions of dollars, a study showed on September 6, and called on lenders to stop “fuelling forest crime”. Southeast Asia is home to some of the world’s most diverse rainforests, but ...
Increased pressure on domestic banks comes from foreign rivals
Foreign banks are increasing their presence in Vietnam through various forms by establishing 100% foreign-owned banks or opening branches. With advantages of capital and services, once the Trans-Pacific Partnership takes effect, foreign banks will have more advantages in Vietnam. Meanwhile, domestic banks that are still undergoing ...
Vietnam: $705.8m outbound investment; funding opportunity from France
Foreign direct investment into Vietnam reached $14.3 billion in 2016. Meanwhile, Vietnamese startups are attracting investment and partnership from French investors. Vietnam’s outbound investments hit $705.8m Vietnamese companies pumped $705.8 million in 106 projects in foreign markets during the first eight months of this year, according ...
Banks covering their assets
Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. The National Bank of Cambodia announced an incremental ...
FDI inflow seen as driving economic development
A modest increase in the inflow of foreign direct investment is a sign that Cambodia remains an attractive destination to investors, and will go a long way toward the country’s development, analysts said on August 31. Total capital inflow of foreign direct investment to Cambodia amounted ...
Lao Securities issues warning on dubious financing companies
The Lao Securities Commission Office is advising people considering making deposits with financial institutions to make a careful assessment before going ahead. Various financing companies in Laos are encouraging people to deposit with them by offering a higher rate of interest than that provided by banks ...
ASEAN urged to chart own course
ASEAN, now on its first year of economic unification, needs to decouple from China and become much better at telling the global community about its economic prospects, Citi’s regional fund services experts said. In the past, ASEAN had benefited from its robust trade with China, with ...
