綠色BN
2014-05-15

Banking News This Week – May 14

The top 5 banking news stories in emerging markets this week.
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1 – Foreign developers seek partners, clients in China
Wealthy Chinese are increasingly looking for overseas real estate investment opportunities-so foreign developers are coming to China in search of clients and business partners, especially in the luxury-residential sector.
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2 – Local firms eye foreign commercial property
Singapore-based developers and investors tend to favour buying commercial property in Australia and Britain. Australia is attractive because office yields can be around 7 to 9 per cent.
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3 – Asia banking on expansion
As a growing and increasingly affluent consumer class emerges across most of Asia, regional banks are focusing on extending their reach. Banks from almost every country in east and south Asia are planning to expand on their home turf and regionally. The largest banks from Japan, the Chinese mainland, Hong Kong, Singapore, Indonesia and Malaysia are even looking to expand globally.  
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4 – S Korea’s credit card use highest in the world in 2012
Credit card usage in South Korea was the highest in the world in 2012, according to data released on Sunday.With annual credit card usage at 147 transactions per capita in 2012, the country ranked first among 18 advanced economies, according to the Korea Financial Telecommunications and Clearings Institute.
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5 – Bank Negara rates hike on the cards
Bank Negara has sent out the clearest signal of an imminent hike in the benchmark overnight policy rate (OPR), a move that would cause interest rates to increase.In a statement to announce its decision to maintain the OPR at 3 per cent, it also alluded to the need of adjusting the degree of monetary accommodation as financial imbalances continued to build up. 
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  By April Wu 
  China Market Strategy
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