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ABN AMRO may sell Asian private banking biz; Macquarie in talks to buy Green Investment Bank

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next

Corporate Renewables Market Looks To Continue Growth After Record 2018

Reframing The Conversation Around Cyber Risk


ABN AMRO may sell Asian private banking biz; Macquarie in talks to buy Green Investment Bank

* ABN AMROGroup NV is considering a sale of its Asian private banking business, BloombergNews reported, citing "people with knowledge of the matter." The companyhas reportedly engaged a financial adviser and reached out to possible buyers.

* MacquarieGroup Ltd. is in the final phase of negotiations to acquireUK Green Investment BankPlc for £2 billion, the FinancialTimes reported.The Australian bank has reportedly outbid other contenders. The deal may becompleted within the next few weeks.

* KASIKORNBANKPCL and Tencent Holdings Ltd. are collaborating to let WeChat usersin China make payments when traveling to Thailand by using the app's electronicwallet service and the bank's QR code-readable devices, Krungthep Turakij reported.WeChat is an instant messaging application developed by Tencent Holdings.

* Indonesia and Japan have extended a bilateral currencyswap facility of US$22.76 billion, almost double the value of a previous dealsigned between the two countries in 2013, TheJakarta Globe reported.

* Wissam Farah was named Nomura Holdings Inc.'s head of global markets sales forEurope, the Middle East and Africa.

GREATER CHINA

* Zhou Xiaochuan, governor of the People's Bank of China,said that risks in China's banking system are controllable and Chinese lendershave adequate capital even as bad loans increase, China News Agency reported. Zhounoted that China's credit growth is growing fast, a reflection of the country'sefforts to boost growth amid a weak global economy.

* China's bond funds increased to 986.6 billion yuan at theend of August from 693.78 billion yuan at the end of 2015, Shanghai Securities News reported.Analysts said the bleak domestic stock market and the bull bond market madebond funds popular.

* The comprehensive returns rate of China's online lendingdropped to less than 10% in September, compared with 12.6% in the prior-yearperiod, Golden Securities reported. Thenumber of investors active in the peer-to-peer industry declined 1.81% monthover month to 3.45 million in September.

* The number of China's normally operated P2P lendingplatforms dropped to 1,912 from more than 4,000 at its peak, Hua Xia Times reported.

* The People's Bank of China issued a series of regulationseffective Dec. 1, for guarding against telecommunications fraud, Beijing Daily reported.The new regulations stipulate that people can ask to revoke transferred moneywithin 24 hours of transactions made through ATMs.

* AllPay Financial Information Service Co. Ltd. becameTaiwan's first third-party payment service provider, which is available inabout 20,000 locations on the island, the TaipeiTimes reported.

JAPAN AND KOREA

* Haruhiko Kuroda, governor of the Bank of Japan, said thatadditional easing on top of the current negative interest rate is not necessaryfor now, The Asahi Shimbun reported.

* YamaguchiFinancial Group Inc. plans to roll out finger vein authenticationtechnology in 2017, The Mainichi Shimbunreported.Finger vein recognition will allow customers to withdraw cash without usingother physical means of authentication.

* Nippon LifeInsurance Co. will adopt artificial intelligence for underwritingdecisions and claim verifications, TheSankei Shimbun reported.

* Tokyo Governor Yuriko Koike said that the metropolitangovernment would launch a "one-stop" platform for supporting foreignfinancial institutions setting up operations in the capital city, Tokyo's The Nikkei reported.

* MitsuiSumitomo Insurance Co. Ltd. and Aioi Nissay Dowa Insurance Co. Ltd. will introduceterrorism and natural disaster insurance designed for schools sending studentsabroad, the Nikkan Kogyo Shimbun reported.

* South Korea's Financial Supervisory Service willstrengthen credit card consumer protection by requiring credit card companies tonotify cardholders of any overdue payment within two business days, Yonhap NewsAgency reported.

* South Korean banks lost a total of 149.2 billion won ontheir ATM operations in 2014 because ATM fees did not cover ATM operatingexpenses, Money Today reported.

ASEAN

* KASIKORN Securities said factors that should be monitoredfor the movement of the Thai stock market during the week of Oct. 10 includethe operating profit reports of listed companies for the third quarter as wellas key economic figures of the U.S., the eurozone and China, Thailand's Daily News reported.

* The Thai Bankers' Association and the Office of InsuranceCommission of Thailand are collaborating to issue guidelines on bancassurancefor bank customers to prevent misunderstanding when purchasing insuranceproducts through banks, Post Today reported.

* The Office of Insurance Commission of Thailand will askthe Thai Bankers Association to urge banks to make sure that their onlinebanking services are covered in case of cybercrime-related incidents, Daily News reported.

* Bank Indonesia expects growth in working capital andinvestment credit to improve in 2017, Kompasreported.

* The Indonesian National Police warned that cybercrime isincreasing in the banking sector, with 909 cases reported in 2015 compared with52 cases in 2014, Bisnis Indonesia reported.

* Ha Van Tham, former chairman of Vietnamese lenderOcean Commercial One MemberLimited Liability Bank, will likely be charged for lendingviolations by the police in connection with US$68 million in losses to thelender, VnExpress reported.Tham approved US$23.5 million without complete paperwork to a real estate firm,which later defaulted, among other indiscretions.

* The Bangko Sentral ng Pilipinas closed down Rural Bank ofLuna (Isabela) as part of efforts to remove "weaker" institutionsfrom the country's banking sector, ThePhilippine Star reported.This is the 16th such bank that shuttered in a similar fashion in the country .

SOUTH ASIA

* The Indian government plans to bring down its in to 52% and has instructedthe lender's management to explore possible options, including a strategicsale, The Economic Times reported,citing "people aware of the matter."

* India's Central Bureau of Investigation carried out raidsat the offices of Repco HomeFinance Ltd., as well as residences of its senior officials inconnection with allegations of fee waivers made to favor certain clients, Business Standard reported,citing sources.

* PunjabNational Bank expects better recovery of bad loans during thefiscal second quarter ended Sept. 30 compared with the prior-quarter period, Business Standard reported.The bank recovered over 48 billion Indian rupees from nonperforming assets inthe first quarter.

* DCB BankLtd. opened its first fingerprint-enabled ATM in Rajasthan thatlinks to the Aadhaar database, which is operated by the Unique IdentificationAuthority of India, Planetbiotmetrics.com reported.The bank intends to upgrade more than 400 ATMs to offer biometric functionalityin the next six months.

AUSTRALIA AND NEWZEALAND

* The Australian Securities and Investments Commissionexpects inconsistencies in the disclosure of various fees by superannuationfunds once it becomes mandatory in February 2017, The Australian Financial Review reported.The super funds, which have advocated a delay in the implementation of the newdisclosure regime, are not certain which fees need to be disclosed.

* The Australian Prudential Regulation Authority has foundthat superannuation funds have become targets of cyberattacks more frequentlythan banks and other financial institutions, The Sydney Morning Herald reported,citing official figures. The attacks reported have not caused any materiallosses thus far.

Sally Wang, Jonathan Cheah,Jaekwon Lim and Santibhap Ussavasodhi contributed to this report.

The Daily Dose has aneditorial deadline of 6:30 a.m. Hong Kong time. Some external links may requirea subscription.