The APAC banking outlook remains broadly stable despite growing geopolitical risks, although Asia-Pacific banks could face an additional USD180bn in credit losses if conflict in the Middle East persists, according to S&P Global Ratings. The warning forms part of the agency's latest midyear assessment of regional banking conditions. S&P said that 92% of Asia-Pacific bank ratings continue to carry stable outlooks, reflecting expectations that credit ratings will remain largely

Thailand's newly licensed virtual banks are expected to expand cautiously during their initial years of operation as regulators prioritise financial stability and prudent risk management, according to market analysts. The Thailand virtual banks framework requires institutions to undergo a restricted operating phase lasting between three and five years before receiving full licences. Under regulations issued by the Bank of Thailand, new virtual banks must maintain paid-up capi

China’s National Audit Office has identified significant China financial irregularities involving several leading state-backed financial institutions, reinforcing Beijing’s campaign to strengthen governance and reduce systemic financial risks. The findings involve Bank of China, Agricultural Bank of China and China Everbright Group. According to the audit, Bank of China used affiliated financial institutions and nominal employee investors to classify 11 private investment fun