China’s economy grew faster than expected at the start of the year but it remains to be seen if it signals a solid recovery trend as the crisis-hit property sector bears down on growth

China’s private banking sector has witnessed a significant migration of high-net-worth individuals to the country’s largest banks, underscoring a flight-to-safety trend and intensifying competitive pressures for smaller banks.

Member countries of the Arab Monetary Fund are enhancing global cross-border transactions through streamlined payments, improved compliance, and increased financial inclusion.

Financial institutions are swiftly adopting blockchain and cryptocurrencies, catalysing regulatory discussions and heralding a significant shift in the global financial system.

From 2019 to 2023, the share of consumer finance relative to total retail lending declined in Hong Kong and South Korea, but increased significantly in the Philippines.

China’s bank-backed fintechs, such as CCB Fintech and OneConnect, grapple with profitability, fierce competition from tech giants and evolving regulatory landscapes.

Despite recent market volatility and real estate downturns that resulted in a wealth decline in 2023, China’s wealth management industry is poised for continuous growth in 2024 and projected to exceed $100 trillion by 2025

China’s retail banking sector faces regulatory and macroeconomic pressures that are lowering revenues and profits, with banks turning to AI and technology to boost growth and customer engagement

Digital transactions nearing 90% at leading banks reveal core technology deficiencies, prompting over 50% in Asia Pacific to adopt microservices for enhanced agility and scalability

Southeast Asia’s platform players Grab, GoTo, and Sea Group streamline operations, with Sea Group emerging as a leader in profitability and growth

Evergrande's long-time auditor, PricewaterhouseCoopers (PwC), has been implicated for issuing unqualified audit reports despite the beleaguered property developer’s significant financial irregularities. This has led to intense scrutiny and potential regulatory and legal actions that could threaten its long-term survival, and reshape the audit landscape in China.

Bank boards globally lack enough technology experts to influence strategy decisions, though North American banks are better at integrating such experts into their boards