Asia Pacific region

SingPost says the acquisition is “in line with” its group strategy.

While some digital banks in the APAC region have turned profitable such as Tencent-backed WeBank in China and the eponymous KakaoBank in Korea, most digital-only lenders’ risk frameworks and business models have not been tested through the economic cycle.

JP Morgan's Asia chief market strategist Tai Hui adds that while the USD has been able to “stay strong” until recently, there are new factors that may cause the reversal of its bullish trend.

HONG KONG (March 29): UBS Group AG, which built an Asian investment-banking powerhouse around the strength of its China business, is finding that excessive reliance on one single market can be a bad thing.

(Jan 16): Financial institutions in the Asia-Pacific region will be more inclined to hire technology specialists this year than investment bankers as they enhance product offerings and upgrade their systems, according to a survey by Options Group Inc.