Latest Intelligence on Consumer Lending in Asia-Pacific

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Type Product title / description Pub Price
CommentWire
CommentWire

GE Consumer Finance: following the flock

GE Consumer Finance is to buy a $100 million stake in Shenzhen Development Bank, subject to the approval of Chinese regulatory authorities. The move is just one of the many strategic alliances contracted by foreign banks with local banks in China in 2005. The opening-up of the Chinese banking sector presents bountiful opportunities for western firms, provided they make their investments carefully.

Published By Datamonitor
24 Oct 2005
CommentWire
CommentWire

Chinese banking: overseas investment could be sweet or sour

The $4.7 billion combined investment by Royal Bank of Scotland and Temasek in Bank of China has been put in jeopardy by hesitant Chinese shareholders worrying about an increasing level of foreign influence. Unless outside investment in China's financial sector is disciplined and measured in its ambitions, it is likely that local resentment over western involvement will continue to grow.

Published By Datamonitor
03 Nov 2005
CommentWire
CommentWire

Commonwealth Bank: Yellow card fails to cut the mustard

Lagging behind its competitors in the innovation stakes of the Australian credit card market, Commonwealth Bank of Australia (CBA) has launched the 'Yellow Low Rate Credit Card'. However, the card offers inferior product features to current offerings and fails to provide customers with a reason to choose CBA over its rivals.

Published By Datamonitor
03 Mar 2006
CommentWire
CommentWire

Chinese credit cards: Guangdong's confidence should encourage foreign interest

Having broken even in 2004 and become the first Chinese bank to move into the black in the credit card business in 2005, Guangdong Development Bank is hoping to double its earnings in 2006. This first tangible example of profit making coupled with Guangdong's desire to secure a foreign partner is sure to generate significant interest from abroad.

Published By Datamonitor
10 Mar 2006
CommentWire
CommentWire

Australian credit cards: issuers' interchange plea likely to fall on deaf ears

In 2003 the Reserve Bank of Australia (RBA) enforced reforms to the credit card payment system, which reduced interchange fees. Visa and the Australian Bankers Association (ABA) are now hoping for a review of the reforms arguing that consumers could suffer in future. However, it can be argued that the changes have actually benefited consumers and therefore the RBA is unlikely to order a review.

Published By Datamonitor
17 Mar 2006
CommentWire
CommentWire

Asia Pacific credit cards: HSBC's Hong Kong example leads the way

On April 24, 2006, HSBC announced it had experienced double-digit growth in credit card take-up and spending across Asia Pacific over 2005. In particular, the success in Hong Kong's highly concentrated market is commendable. This growth is expected to continue in the near future with emerging economies, in particular China, increasingly using credit cards as a method of payment.

Published By Datamonitor
28 Apr 2006
CommentWire
CommentWire

Australian credit cards: don't believe the hype

A number of media reports have incorrectly stated government statistics and concluded that Australians are struggling financially as a result of a recent hike in interest rates imposed by the central bank. In reality, Australian credit card spending and cash advance levels in May are an improvement on recent months.

Published By Datamonitor
25 Jul 2006
CommentWire
CommentWire

LG Card: Standard Chartered wise to bow out

LG Card Co, South Korea's second largest card issuer, is up for sale to the highest bidder. At the beginning of the week there were five companies in the bidding, a number which has now dropped to four with the exit of UK-based Standard Chartered. This move may be the best decision for Standard Chartered as the asking price is high and all remaining bidders are being stretched to find financing.

Published By Datamonitor
11 Aug 2006
CommentWire
CommentWire

LG Card: Shinhan confirms its place in new order

On August 16, 2006, Shinhan Financial Group became the controlling owner in LG Card Co at a suspected cost of around US$7.5 billion. While foreign players balked at the potential price required to win the race for LG, Sinhan clearly feels it is a price worth paying to clinch a deal that will see it emerge as a major rival to Kookmin Bank in the South Korean lending market.

Published By Datamonitor
21 Aug 2006
CommentWire
CommentWire

Credit cards: National Australia Bank and China UnionPay form new bond

National Australia Bank and China's dominant bank card scheme, China UnionPay, have signed a deal allowing CUP customers to use their cards in Australia. The cards can now be used at NAB's 1,300 ATMs and the POS network will be adjusted to allow usage by the end of 2006. This is further evidence of CUP's globalization strategy and the potential rich pickings for partners willing to get onboard.

Published By Datamonitor
13 Sep 2006

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