The International Banker 2021 Asia & Australasia Awards Winners - International Banker

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China’s banks face the likely prospect of a very significant rise in bad loans in the near future, with the China Banking and Insurance Regulatory Commission (CBIRC) recently noting that the current economic recovery is unbalanced and lacks a solid foundation. According to Liu Zhongrui, an official at the statistics department of the CBIRC, the regulator has been guiding banks to boost lending provisions and bolster their efforts to dispose of toxic debts, with the number of bad loans disposed of during the first six months of the year expected to be greater than the same period in 2020.

The Bank of Japan (BoJ) recently announced that it will incentivise those lenders pushing green-finance solutions to their customers. In particular, the central bank is supporting climate-linked loans and investments to help financial institutions address climate-change issues. It is also introducing a new climate-lending facility that offers interest-free loans to banks for providing financing for environmentally friendly borrowers and projects. The scheme will be launched later this year and run until at least 2030, with loans having a term of up to one year. The central bank is also buying green bonds in foreign currencies.

India’s central bank recently announced that it will be giving domestic lenders an additional three months to implement newly required rules on opening and maintaining current accounts. The Reserve Bank of India’s (RBI’s) initial mandate aims to prevent people from opening multiple accounts to borrow money, and it has already managed to freeze or close some accounts. But the recent directive pushes the deadline for those requirements to be in place for lenders to October 31 from the initial end-of-July date. “We have in the meantime received requests from the banks for some more time to resolve the operational issues while implementing the circular in letter and spirit,” the RBI said in its latest notification.

There is growing evidence that a significant majority of Malaysians are keen to adopt new digital-banking solutions, with the Southeast Asian country experiencing a marked rise in digital adoption since the beginning of the pandemic. A recent study by Visa noted that more than 74 percent of citizens are aware of digital-banking services, while 66 percent are interested in using them. According to the payments company, this bodes well for Malaysia, with Visa’s country manager, Ng Kong Boon, noting that the findings highlight how open Malaysians are to new digital entrants into the traditional-banking space. According to the study, respondents expressed interest in the digital-banking services provided by renowned brands (71 percent), financial-services brands (65 percent) and new start-ups (60 percent).

The central bank, Bank Negara Malaysia (BNM), recently closed the applications of five digital banks for licenses to operate in the country, with reports indicating that a large number of applications have been received for the few licenses available.

Senior executives from Australia’s big four banks—Commonwealth Bank, ANZ (Australia and New Zealand Banking Group), National Australia Bank (NAB) and Westpac—and the head of the country’s banking association have defended their decision to exit the thermal-coal sector at a recent parliamentary hearing, despite the recent surge in coal prices. Australia is the world’s biggest exporter of coal by total value, and the miners operating the company are currently enjoying healthy profits, thanks to the recent coal-price rally.

Australian lenders, including the big four banks, are now giving borrowers the option to defer their loan repayments, after the Australian Prudential Regulation Authority (APRA) announced fresh regulatory support in mid-July in light of the surge in cases of the new Delta variant of COVID-19, which, in turn, has triggered new lockdowns in several parts of the country. The APRA confirmed that the relaxation of rules will be available for three months.

One of the Reserve Bank of New Zealand’s (RBA’s) biggest priorities appears to be cracking down on the country’s property boom, having recently announced plans to tighten up mortgage lending. The announcement came the day after New Zealand’s human-rights commission confirmed it would be launching an inquiry into New Zealand’s housing crisis, which it called a “massive human rights failure”. According to a recent report, house prices across the country surged 20 percent during the 12 months through June 2021.

Among the most significant measures the central bank is taking in response is to reduce the share of loans domestic lenders will be able to make to owner-occupiers with less than 20 percent of their deposits, which will take effect from October 1 onwards. The RBA will also take steps to implement debt-to-income (DTI) restrictions and interest-rate floors around the same time to ensure borrowers can afford to keep servicing their mortgages.

 >>> ASIA AWARD WINNERS  

BANKING CEO OF THE YEAR
Asia
Mr. Edwin R. Bautista

Union Bank of the Philippines (UnionBank)

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

Asia
Asia Commercial Bank (ACB) (Vietnam)

**********

Best Banking Group China
Industrial and Commercial Bank of China

Best Banking Group India
ICICI Group

Best Banking Group Indonesia
Bank Negara Indonesia

Best Banking Group Japan
Resona Holdings

Best Banking Group Malaysia
CIMB Group

Best Banking Group South Korea
Hana Financial Group

Best Investment Bank Of The Year China
CITIC Securities

Best Investment Bank Of The Year Japan
Mizuho

Best Commercial Bank Of The Year Bangladesh
NRB Commercial Bank

Best Commercial Bank Of The Year Cambodia
Prince Bank

Best Commercial Bank Of The Year China
China Construction Bank

Best Commercial Bank Of The Year India
HDFC Bank

Best Commercial Bank Of The Year Indonesia
Bank Central Asia (BCA)

Best Commercial Bank Of The Year Japan
Sumitomo Mitsui Banking Corporation (SMBC)

Best Commercial Bank Of The Year Malaysia
RHB Bank

Best Commercial Bank Of The Year South Korea
Industrial Bank of Korea

Best Commercial Bank Of The Year Sri Lanka
Commercial Bank of Ceylon PLC

Best Commercial Bank Of The Year Taiwan
CTBC Bank

Best Commercial Bank Of The Year Thailand
Krungthai Bank

Best Commercial Bank Of The Year Vietnam
Asia Commercial Bank (ACB)

Best Private Bank Of The Year China
China Merchants Bank (CMB)

Best Private Bank Of The Year India
HDFC Bank

Best Private Bank Of The Year Indonesia
Bank OCBC NISP

Best Private Bank Of The Year Malaysia
CIMB Private Banking

Best Innovation In Retail Banking Cambodia
Prince Bank

Best Innovation In Retail Banking China
China Construction Bank

Best Innovation In Retail Banking India
HDFC Bank

Best Innovation In Retail Banking Indonesia
Bank Rakyat Indonesia (BRI)

Best Innovation In Retail Banking Japan
MUFG Bank

Best Innovation In Retail Banking Malaysia
Public Bank

Best Innovation In Retail Banking Bangladesh
Islami Bank Bangladesh

Best Innovation In Retail Banking Philippines
Union Bank of the Philippines (UnionBank)

Best Innovation In Retail Banking South Korea
KakaoBank

Best Innovation In Retail Banking Sri Lanka
Commercial Bank of Ceylon PLC

Best Innovation In Retail Banking Thailand
Krungthai Bank

Best Innovation In Retail Banking Vietnam
Asia Commercial Bank (ACB)

Best Islamic Bank Of The Year Bangladesh
Islami Bank Bangladesh

Best Islamic Bank Of The Year Malaysia
CIMB Islamic Bank

 >>>AUSTRALASIA AWARD WINNERS  

BANKING CEO OF THE YEAR
Australasia
Mr. Matt Comyn

Commonwealth Bank of Australia

**********

BEST CUSTOMER SERVICE
PROVIDER OF THE YEAR

Australasia
TSB BANK (New Zealand)

**********

Best Banking Group Australia
Suncorp

Best Commercial Bank Of The Year Australia
Westpac Banking Corporation

Best Commercial Bank Of The Year New Zealand
ASB Bank

Best Private Bank Of The Year New Zealand
ANZ Private

Best Innovation In Retail Banking Australia
Commonwealth Bank of Australia

Best Innovation In Retail Banking New Zealand
TSB BANK

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