The top 5 banking news stories in emerging markets this week.
1 – Consumer confidence boosts up Thai banking sector’s hopes
A month after the coup, the banking sector is seeing a recovery in consumer confidence and welcome signs of a rise in loan demand among SME clients. >>
2 – China eases rules for some foreign investors
China is scrapping legal and financing curbs on some foreigners investing in businesses outside the banking industry, the trade ministry said on Tuesday. >>
3 – Traditional banks must innovate to counter threat from Internet finance
Robust growth in Internet finance looks set to threaten the profits of traditional banking.
Figures from the China Business News Institute show that close to 700 online peer-to-peer (P2P) lending platforms were established in China last year, a big increase from 110 in 2012. The annual trading volume of P2P businesses reached 110 billion yuan ($17.67 billion) in 2013, about 10 times that of 2012. >>
4 – Banking expansion into Asia needs trade deal, says Robb
Secret international financial services negotiations will open up new opportunities for Australian businesses in Asia, according to the government, but the opposition has raised concern about the ability of Australian governments to protect consumers under the agreement. >>
5 – Global banks collaborate with consumer goods companies at Banking Environment Initiative Forum to promote sustainable production of agricultural commodities
Representatives of global banks are meeting in Hong Kong this week to discuss ways in which they can work with consumer goods and commodities companies to promote sustainable means of production, especially in agricultural commodities. >>