In addition to leading their institutions to support customers and communities, some bank bosses are also taking pay cuts or making charitable donations to support the fight against the COVID-19

As the race towards digitalisation intensifies, the relationship between banks and “big tech” companies is increasingly marked by collaboration and synergy, not just competition

A whitepaper just released by Honghu Best Global Family Office and The Asian Banker, "Global Family Office and Wealth Management Best Practices 2021 - Global Perspectives, Chinese Flair" reveals that succession planning is critical to intergenerational wealth transfer. However, most families do not prepare or plan for a smooth transition, leading to the partial or even full loss of wealth or family values that need to be passed on.

As the trade finance industry collectively progresses to address challenges around digital fragmentation and isolation, adoption of standard solutions and well-established legal frameworks along with technology as an enabler will play critical roles in truly digitalising trade.

Commercial banks such as DBS Bank and traditional exchanges such as the Singapore Exchange have one thing in common: they are setting up and adding digital exchanges and platforms to their existing business lines.

As demand for sustainable products rises, stakeholders including consumers, investors, and regulators are pushing manufacturers, suppliers and lenders to incorporate ESG metrics in evaluating the performance of their supply chains.

Given that remittances are so lucrative in so many markets in Asia, and that new competitors are offering faster and cheaper services, banks will need to develop new models if they want to keep their customers.

Driven by competition and rapid disruption, banks increasingly spend on technology enabled models targeted to improve customer experience and service capability. What are the recent developments and top priorities of banks in 2018?

Digital disruption is rapidly changing the competitive and operating landscape and driving institutions and regulators to adopt opening banking strategies and create API enabled IT architectures.

Asia Pacific banks saw asset growth slow down to 7.9% in FY2021 from 10.7% in FY2020, while 85% of banks posted higher net profit, reflecting economic recovery from the COVID-19 pandemic

Consumers chose Indonesia’s Bank Central Asia as the Most Recommended Retail Bank, and DBS Singapore as Most Selected Main Bank in APAC in the 2023 BankQuality Survey

Indonesia’s Bank Central Asia, DBS Singapore, South Korea’s Toss Bank, and China’s Alipay were voted the Most Recommended Retail Bank, Most Selected Main Bank, Most Recommended Digital-only Bank and Most Recommended Platform, respectively, in the 2023 BankQuality™ Consumer Survey

North America demonstrated the highest overall strength, followed by Asia Pacific and the Middle East, with all banks in the ranking averaging decline in return on assets from 0.76% to 0.74%, and improved gross non-performing loan ratio from 1.8% to 1.65%

DBS’s Gupta is the highest-paid bank CEO in Asia Pacific, while Public Bank CEO Tay received the highest compensation as a percentage of net profit, with the combined total earned by the top 10 highest-paid bank chiefs in the region reaching $63.4 million in FY2022, up from $56.5 million in FY2021

Taiwanese consumers voted E.Sun Bank as the Most Recommended Retail Bank, giving it a 13% BankQuality™ Score. CTBC Bank emerged as the Most Selected Main Bank, securing 20% of the bankable population for primary relationships