A recent McKinsey report states slowing Chinese growth coupled with digital headwinds could see the bigger fishes eat the smaller fishes across the world of Asian banking.
The partnership will allow its clients to reach a greater pool of Vietnamese consumers. Meanwhile, Chinese giants Alipay and WeChat Pay are also expected to make an entrance in the market.
“Forget Buenos Aires,” said Alicia Garcia-Herrero, Natixis’ chief economist for the Asia Pacific region. She said Japan will gain in the short term due to tariffs but the broader picture, however, is quite complicated.
As Asia’s economies grow, a business intelligence firm warns that a growing disconnect between distant headquarters and local offices could lead to an increase in fraud as internal audit teams fail to meet the mark.
From Kasikornbank in Thailand to HDFC in India, large corporates increasingly turn to local Asian banks over global players to meet their corporate banking needs in Asian markets.
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