Up to a US$17t annual funding gap exists. Sustainable lending becoming the ‘norm’ will mark the time when financial institutions (FIs) true transition to the net zero path is realized. “The true transition is realized when sustainable lending becomes ‘business as...
Outstanding renminbi loans grew, but foreign currency loans dropped. Outstanding renminbi (RMB) and foreign currency loans in China rose 7.2% year-on-year (YoY) to $35.49t (RMB259.58t) as of the end-December 2024, according to data from the People’s Bank of China (PBOC). RMB...
Key driver was the borrowing activity by commodities firms, which accounted for US$18.4b or 23% of the total loan volume Singapore emerged as a bright spot in the Asia Pacific syndicated loan market in 2024, achieving a 48.9% YoY increase...
Offshore loans for Chinese corporates drove Hong Kong’s loan volume, totalling to US$66.7b or a 19.5% increase compared to 2023. Hong Kong emerged as the leader in the Asia Pacific (ex-Japan) syndicated loan market in 2024, achieving a total loan...
The Hong Kong Monetary Authority (HKMA) has announced the imminent launch of a Rmb100bn (US$13.64bn) trade finance liquidity facility to support Hong Kong banks’ trade finance offerings to corporate clients. The HKMA says that the facility will be “a stable...
ICBC is APAC’s top bank in terms of market cap; DBS rises to 23rd spot. The world’s top 25 banks saw their market capitalization increase by 27.1% year-on-year (YoY) to $4.6t in Q4 2024, according to GlobalData. Most of the banks’...
JPMorgan’s net income soared 50% to more than US$14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year as businesses and consumers...
The Economist Impact has published a report on the cost of global financial fragmentation, sponsored by Swift. Based on the current trajectory of sanctions and trade barriers, the resulting financial fragmentation is expected to globally cost $2.8 trillion or...
Citigroup on Wednesday reported stronger-than-expected fourth-quarter profit and revenue, while authorizing a $20 billion share buyback program, sending its shares by more than 2% before the bell. The bank posted a net income of $2.9 billion, or $1.34 per share,...
Global dealmaking revives in 2024, but remains weaker than recent years. Driven by rising valuations, global private equity and venture capital deal activity surged in 2024, according to new data from S&P Global Market Intelligence. The total value of deal activity...
