Asia Banking Research

Jun

Chinese Government takes over BaoShang Bank

For the first time in over two decades, China’s central bank has taken control of a private bank. Baoshang Bank Co. which was founded in 1998 is headquartered in Baotou. With assets worth about 576 billion yuan ($83 billion) the lender is well established in the Inner-Mongolia region. Tomorrow Group,…

Jun

Asia Banking Research

South Korea holds off on issuance of new internet banking licenses

South Korean regulators have dealt a blow to the ambitions of Kiwoom Securities and Viva Republica by rejecting their respective applications for a banking license. Both of those firms had sought to launch a challenger bank that would have competed with K bank and Kakao bank, who have operating for…

Jun

Asia Banking Research

What are Revolut’s prospects in Asia?

UK-based fintech Revolut has done well in Europe, where it is among the region’s most prominent challenger banks. Before it acquired a banking license, Revolut built up a large customer base by offering a Visa or Mastercard-branded card tied in with a multi-currency account that allows users to transact in…

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Asia Banking Research