Asiamoney Issue One 2020

Asiamoney Issue One 2020

Asian banking in the time of coronavirus

Covid-19 has pushed down global stock markets, led to alarming projections about global growth, and forced millions out of work and most of the rest to work from home. Asiamoney considers the likely impact on banks in the region

On the cover

India: Yes Bank's trouble was saying no

India: Yes Bank's trouble was saying no

The spectacular collapse of a fast-growing private lender in early March has dealt yet another blow to India’s already shaky finance industry, led to the arrest of its founder and thrown a spotlight on the bank’s aggressive lending practices.

Indonesia creates a new capital bonanza

President Joko Widodo is planning southeast Asia’s biggest infrastructure project in building his new capital city in remote Kalimantan; it promises to be a party for bankers – but first they will have to negotiate some quirky local characters.

Editor's letter

Review

Coronavirus: IPOs lose the human touch

Coronavirus: IPOs lose the human touch

Asia’s first virtual roadshows have paved the way for a new digital approach to IPO executions; they are a necessity at the moment, but they could become the new normal.

Opinion

Coronavirus: Digital banking is no longer optional

Coronavirus: Digital banking is no longer optional

Digital banks have long talked about the importance of efficient online and mobile banking services at the expense of face-to-face meetings and physical branches; the coronavirus crisis means there is now little argument against this model.

Surveys and awards

Bangladesh

India

India's banks clean up

India's banks clean up

The financial industry has been a mess, hit by defaults, rising bad loans, corporate governance scandals, frauds and, most recently, the government rescue of Yes Bank - the worst may be over, but things aren’t tidy yet.

Myanmar

Digital banking: The pressure on Myanmar

Digital banking: The pressure on Myanmar

Sean Turnell, adviser to Myanmar’s leader Aung San Suu Kyi, discusses the liberalization, international opening and digitalization of the country’s banking sector.

Pakistan

Sri Lanka

Sri Lanka banking: State CEOs pay the price

Sri Lanka banking: State CEOs pay the price

The chief executives of People’s Bank and Bank of Ceylon have both been ousted as part of the government’s new hard line on state-owned banks it considers are not doing enough to help the struggling economy.

Thailand

Thailand finance: Korn dares the old guard

Thailand finance: Korn dares the old guard

Korn Chatikavanij, JPMorgan’s former Thailand boss, has been a finance minister, a fintech pioneer and a philanthropist; he is now trying to disrupt politics with a new party.

Central Asia

Uzbekistan: State banks keep a tight grip

Uzbekistan: State banks keep a tight grip

Uzbekistan’s state-owned banks dominate the local financial system; a mix of local, privately owned banks and eager foreign players are helping the country to open up, but it will not be easy.

Uzbek upstart banks on privatizations

Silk Capital is making a big bet on the liberalization of the country’s financial system – a crucial test case of international demand for the nation will be the boutique investment bank’s own offshore IPO.