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Barclays names regional banking head; Asian banks join hands for blockchain

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Barclays names regional banking head; Asian banks join hands for blockchain

* Barclays Plc appointed Reid Marsh as its head of banking for Europe, the Middle East and Asia-Pacific, Reuters reported. Marsh was previously co-head of the bank's Asia-Pacific banking unit with Jaideep Khanna, who will take sole responsibility for operations in the region.

* Military conflict on the Korean peninsula may adversely impact the sovereign ratings of Japan and Vietnam, Moody's has warned. In Japan, the conflict could crimp economic growth and destabilize government debt while Vietnam's exports to South Korea could be hit and weaken its fiscal strength, the rating agency said.

* Chang Hwa Commercial Bank Ltd., Taiwan Cooperative Bank Ltd. and First Commercial Bank Co. Ltd. are planning to open branches in Cambodia, following similar moves by other Taiwanese lenders in the country, the Khmer Times reported.

* Japan's Sumitomo Mitsui Financial Group Inc. signed a lease in Frankfurt for office space, amid uncertainty surrounding the U.K.'s exit from the European Union, "people familiar with the decision" told Bloomberg News.

* A consortium formed by Oversea-Chinese Banking Corp. Ltd., HSBC Bank (Singapore) Ltd., Mitsubishi UFJ Financial Group Inc. and Singapore's Infocomm Media Development Authority has become the first in Southeast Asia to complete a proof of concept for know-your-customer blockchain. The technology will allow more efficient use of KYC processes to counter money laundering and terrorism financing.

GREATER CHINA

* Chinese microlender Qudian plans to raise US$769 million in its IPO by selling 37,500,000 shares at a price range of between US$19 and US$22 per share, Renaissance Capital said.

* As a number of Chinese banks have received hefty fines due to improper compliance overseas, such companies should change their culture to be successful overseas as they struggle to keep up with new international regulations despite expending resources and hiring compliance staff, the South China Morning Post reported, citing industry analysts.

* Taiwan's Financial Supervisory Commission said the balance of deposits on the island stood at NT$36.82 trillion as of the end of August, while the balance of loans was recorded at NT$26.79 trillion, the Economic Daily reported. This marks the first time the difference between deposits and loans in Taiwan surpassed NT$10 trillion.

JAPAN AND KOREA

* SBI Holdings Inc. and Japan Airlines Co. Ltd. established a fintech joint venture, The Nikkei reported. Tokyo-based JALSBI Fintech, a holding company, is planning to issue a prepaid card with airline rewards in 2018.

* Resona Holdings Inc. will begin to offer M&A advisory services in Southeast Asia through a Singaporean bank it acquired in July, The Nikkei reported.

* SBI Holdings agreed to forge equity and business tie-ups with MULLION Co. Ltd., a Tokyo-based real estate securitization company, The Nikkei reported.

* South Korea's National Pension Service will hire a local asset manager to manage infrastructure investment from its office in Singapore, which opened in 2015, The Financial News reported.

ASEAN

* Thailand's Ministry of Finance and the Bank of Thailand issued guidelines for standardizing the supervision of officials authorized to conduct foreign exchange-related transactions, Daily News reported.

* Krungthai Card PCL said it would continue to collaborate with partners in different fields to expand its online services in 2018, Manager Daily reported. The company expects its income in 2017 to grow 10%.

* DBS Bank Ltd. expects the Philippine central bank to raise interest rates in the fourth quarter with inflation likely to remain stable at 3.1%, The Philippine Star reported.

SOUTH ASIA

* Amazon Pay India increased its share capital fivefold to 20 billion rupees, Press Trust of India reported, citing documents filed with India's Ministry of Corporate Affairs. The company's board had approved the decision at an Aug. 25 general meeting.

* Paytm Payments Bank posted a loss of 300.7 million rupees between August 2016 and March 2017, Press Trust of India reported, citing documents filed with India's corporate affairs ministry.

* Vijay Mallya, a millionaire Indian business tycoon known for launching and heading the now-defunct Kingfisher Airlines Ltd., was arrested for the second time by British police over money laundering charges brought by India's Enforcement Directorate as part of an ongoing probe into a default on loans worth about 90 billion rupees, Mint reported. Mallya was released on bail until Dec. 4 by the Westminster magistrates' court.

* Bangladesh's central bank rejected City Bank Ltd.'s request to set up a subsidiary in Hong Kong to provide trade finance services, The Daily Star reported. The regulator cited declining imports from Hong Kong in recent years as a contributing factor in its decision.

AUSTRALIA AND NEW ZEALAND

* ASX-listed iSelect boosted its shareholding in Malaysia-based Intelligent Money Sdn. Bhd. to 51.5% from 23.8% by purchasing shares worth US$4.15 million. iSelect will invest a further US$4 million in the company through a new capital raising plan to accelerate iMoney's growth after the transaction is completed.

* Mediation between the Australian Securities and Investments Commission and Australia & New Zealand Banking Group Ltd., National Australia Bank Ltd. and Westpac Banking Corp. over the alleged fixing of key interest rate benchmark BBSW has begun, following an order from Federal Court Judge Jonathan Beach, The Australian reported. If a settlement is not reached, a court hearing will commence in late October.

IN OTHER PARTS OF THE WORLD

Middle East & Africa: S&P affirms Kenya, Cape Verde; Mauritius' MCB Group posts profit rise

Europe: UBS sells biz to Northern Trust; Sampo buys Saxo stake; BoE outlines new rules

Latin America: Intercorp-Sura deal approved; S&P lowers El Salvador's rating

North America: Wells' Sloan faces Senate panel; Equifax hack affected 145.5 million in US

North America Insurance: Equifax hack could cost insurers $125M; AIG selling medical stop-loss biz

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

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