Citi completes sale of Indonesia consumer business to UOB

The move is part of a deal for Citi to sell consumer banking businesses in Malaysia, Thailand, Vietnam and Indonesia to UOB as it retreats from 14 markets in the space. Meanwhile, a major reorganisation at the bank has begun, including Asia leadership changes.
November 20, 2023

MUFG appoints Mick Wang as head of China business unit

Wang, who joins from Citibank, will lead MUFG China’s non-Japanese client coverage teams for its corporate banking portfolio, comprising local and global corporates, Chinese SOEs and financial institutional clients.
November 14, 2023

HKMA publishes findings of e-HKD pilot

Experts share insights around the value potential of a digital currency, following the HKMA’s publication of an initial report on the pilot.
October 31, 2023

Banking cull continues as profits rise

Off-balance sheet income is driving global banks’ Q3 earnings, a McKinsey report has found, but to sustain growth momentum, Asia’s institutions will need to overhaul inefficiencies.
October 24, 2023