Asian Banking & Finance (October - December 2025)

FROM THE EDITOR PUBLISHER & EDITOR-IN-CHIEF EDITORIAL MANAGER

Tessa Distor

PRINT PRODUCTION EDITOR

Eleennae Ayson

LEAD JOURNALIST

Frances Gagua

JOURNALISTS

Noreen Jazul Olivia Tirona Ibnu Prabowo

GRAPHIC ARTIST EDITORIAL ASSISTANT COMMERCIAL MEDIA TEAM

Simon Engracial Vienna Verzo Jenelle Samantila Dana Cruz

ADVERTISING

Shairah Lambat shairah@charltonmediamail.com

AWARDS

Julie Anne Nuñez-Difuntorum awards@charltonmediamail.com

ADMINISTRATION

Eucel Balala accounts@charltonmediamail.com

EDITORIAL

E

xceptional banking and finance leaders were hailed at this year’s Asian Banking & Finance Retail Banking Awards, Wholesale Banking Awards, Corporate & Investment Banking Awards.

Are you one of them yet? Head over to page 22 to see who Asia’s top innovators are.

Tim Charlton

abf@charltonmedia.com

SINGAPORE 101 Cecil St., #17-09 Tong Eng Building, Singapore 069533 +65 3158 1386 HONG KONG Room 1006, 10th Floor, 299 QRC, 287-299 Queen’s Road Central, Sheung Wan, Hong Kong +852 3972 7166

Speaking of innovation, Citigroup’s Stephen Randall tells us on page 12 why tokenisation is becoming key to meeting corporate treasuries demand for real-time access and visibility to their money. On page 6, Bank of America’s Phil Carmalt highlights a different dilemma: simplifying integration of cross-border payment tech to fit treasury teams’ budgets.

ZA Bank, meanwhile, is intensifying its focus on wealth management to capture opportunities in what its CEO Calvin Ng says is one of Hong Kong’s fastest-growing financial sectors. Head over to page 16 to see what else the digital bank is cooking up in the city.

Wealth customers in general are seeking to enter private markets, and private funds themselves are targeting individual investors instead of large institutions. We spoke with StashAway, one of the region’s top digital wealth management and investment platforms, to learn more about this phenomena. Head over to page 6 to learn more.

Read on and enjoy!

MIDDLE EAST FDRK4467,Compass Building,Al Shohada Road, AL Hamra Industrial Zone-FZ, Ras Al Khaimah, United Arab Emirates www.charltonmedia.com PRINTING

Tim Charlton

Can we help?

Editorial Enquiries: If you have a story idea or press release, please email our news editor at abf@charltonmedia.com. To send a personal message to the editor, include the word “Tim” in the subject line.

Media Partnerships: Please email abf@charltonmedia.com with “partnership” in the subject line.

Subscriptions: Please email subscriptions@charltonmedia.com.

Asian Banking & Finance is a proud media partner and host of the following events and expos:

Asian Banking & Finance is published by Charlton Media Group. All editorial is copyright and may not be reproduced without consent.

Contributions are invited but copies of all work should be kept as Asian Banking & Finance can accept no responsibility for loss. We will however take the gains. *If you’re reading the small print you may be missing the big picture   



MICA (P) 249/07/2011 No. 67

ASIAN BANKING & FINANCE | Q4 2025 1

CONTENTS

22

EVENT LEADING BANKS, FINANCIAL COMPANIES LAUDED AT ASIAN BANKING & FINANCE AWARDS 2025

FIRST

08

INTERVIEW GXS BANK EXPANDS SME LENDING AFTER VALIDUS ACQUISITION

94

EVENT TOP FINTECH LEADERS HONOURED AT ASIAN BANKING & FINANCE FINTECH AWARDS 2025

EVENT

06 Wealth customers turn to private markets 07 How vocal analysis can power more personalised services

STORE WATCH 08 GXS Bank expands SME lending after Validus acquisition 10 Baiduri Bank opens Singapore office as critical liaison point for Bruneian firms 12 Citi expands tokenization, real-time tools 14 Security Bank expands services with fresh apps 16 ZA Bank sharpens focus on wealth, digital assets

20 Why Singapore’s digital banks target gig workers and micro businesses 22 Leading banks, financial companies lauded at Asian Banking & Finance Awards 2025 94 Top fintech leaders honoured at Asian Banking & Finance Fintech Awards 2025

COMMENTARY 110 Show, don’t tell: Asian banks need to prove simplification works – here’s how 112 What kids without wallets can teach us about the future of finance

CASE STUDY 18 OCBC eyes $2.7b for serial entrepreneurs

Published Biannually by Charlton Media Group

Hong Kong: Room 1006, 10th Floor 299 QRC, 287-299 Queen's Singapore: Road Central, Sheung Wan, ASIAN BANKING & Building FINANCE Q4 2025 2 St. ASIAN BANKING AND FINANCE|Hong | MARCH 101 Cecil #17-09 Tong Eng Kong 2019 Singapore 069533 +852 3972 7166

MIDDLE EAST: FDRK4467,Compass Building,Al Shohada Road, AL Hamra Industrial ZoneFZ, Ras Al Khaimah, United Arab Emirates

For the latest banking news from Asia visit the website

www.asianbankingandfinance.net

Banking globally Achieve your international aspirations with seamless financial support.

SCAN QR CODE TO FIND OUT MORE

Issued by HSBC Bank Vietnam Ltd. Website: hsbc.com.vn/en-vn/premier/ Hotline (24/7): (84 28) 37 247 666 Email: hsbcpremiervn@hsbc.com.vn

ASIAN BANKING & FINANCE | Q4 2025 3

News from asianbankingandfinance.net Daily news from Asia

INVESTMENT BANKING

SMBC appoints Joy Kwek to lead capital markets & solutions in APAC Sumitomo Mitsui Banking Corporation (SMBC) has appointed Joy Kwek as managing director, head of capital markets & solutions, Asia Pacific effective 1 August. In the newly created role, Kwek is tasked with leading the strategic alignment of SMBC and SMBC Nikko Securities across the region.

RETAIL BANKING

CATEGORY

CBA deploys AI bot army to disrupt and study scam attacks Commonwealth Bank of Australia has found a way to protect its customers from scams whilst collecting data on fraud schemes—through AI-powered bots. Working with security platform Apate.ai, the lender now deploys 10,000 voice bots and 2,500 message bots to intercept scammers before they can reach real customers.

CARDS & PAYMENTS

CATEGORY

India’s AU Bank clinches in-principle approval to become a universal bank The Reserve Bank of India has granted ‘in-principle’ approval to AU Small Finance Bank Limited to transition to a universal bank. The Jaipur-based small finance bank (SFB) is reportedly the first SFB in India to receive approval from the central bank to transition into a universal bank.

LENDING & CREDIT

UOB acknowledges penalty for antimoney laundering breaches

Alipay+ links with Kaspi.kz for crossborder payments in Kazakhstan

ANZ rolls out home loan policy changes to aide self-employed

United Overseas Bank Limited (UOB) said that it accepts the Singapore central bank’s decision to impose regulatory actions against the bank and other financial institutions (FIs) for anti-money laundering-related matters. Two of its employees were reprimanded, the bank said in an SGX statement.

Alipay+ and Kazakhstan's Kaspi. kz has enabled international crossborder QR payment acceptance in the country. Users of 12 Alipay+ enabled payments can now scanto-pay via Kaspi QR. Kazakhstan is the first country in the Central Asian region to accept Alipay+, according to a press release.

ANZ is making changes to its home loan policies with the goal of making it easier for self-employed Australians to purchase a home. Key changes include allowing business overdrafts to be amortised over 10 years, rather than seven. ANZ will also use actual repayment as part of the assessment.

ASIAN BANKING BANKINGAND & FINANCE 2025 4 ASIAN FINANCE| Q4 | Q3 2021

ASIAN BANKING & FINANCE | Q4 2025 5

FIRST That exclusivity is eroding as financial technology platforms bring private market strategies to smaller investors.

“We actually built private market offerings because our customers asked for it,” Leung said.

The shift reflects a broader reallocation of wealth.

For decades, Hong Kong’s property market was a powerful generator of returns, serving as the foundation of many families’ wealth creation. But the sector has been sluggish since 2021, weighed by pandemic restrictions, economic headwinds in China, and rising interest rates.

“Looking forward, the returns that you get from the housing market may be more diminished compared with the returns that we’ve been enjoying in the past 20–30 years,” Leung noted.

FIRMS WANT INT'L PAYMENTS WITHOUT TECH HEADACHES CARDS & PAYMENTS

C

ompanies across the Asia-Pacific region are demanding real-time cross-border payments that are seamless and easy to use, but banks face challenges in delivering these solutions when markets operate under different rules and infrastructures.

Phil Carmalt, head of Asia Pacific global payments solutions product at Bank of America (BofA), told Asian Banking & Finance in an exclusive interview that clients increasingly want payments to be triggered directly from their existing systems, such as invoice portals or procurement platforms, without logging into separate banking applications.

“The challenge is that treasury teams don’t have large information technology budgets, so they’re looking for simple and cost-effective ways to connect up with the banks,” he said.

To address this, BofA is working with fintechs and technology vendors to simplify integration for clients. This reduces the need for extensive in-house development and helps businesses connect treasury management systems directly with bank payment gateways.

Improved cross-border payments Cross-border payments in Asia have improved in recent years, particularly with the rise of e-commerce, digital wallets, and merchant payments.

On the retail side, QR codes have been central to progress, with countries such as Singapore and Thailand linking their NETS and PromptPay systems.

But bilateral corridors create as many problems as they solve, Carmalt said.

“Instead of having multilateral clearing and settlement systems, bilateral arrangements have been springing up,” he told the magazine.

This patchwork of corridors complicates scaling for banks. “It’s hard to justify connecting to so many when they’re always solving for a very small part of our client flows,” he added.

6 ASIAN BANKING & FINANCE | Q4 2025

Tech giants and AI companies draw interest

Wealth customers turn to private markets WEALTH MANAGEMENT

D

emand for diversification is reshaping the way retail investors approach wealth management, with growing interest in private markets that were once reserved for large institutions.

A number of private funds are expanding their services to attract individual retail investors, said Stephanie Leung, chief investment officer at StashAway Hong Kong Ltd. “In the past few years, we’ve seen a push-and-pull factor coming together,” she told Asian Banking & Finance. “The pull factor is that investors demand higher returns. The push factor is that a lot of these private funds are expanding their business to offer smaller ticket sizes to smaller investors.”

Private markets—covering private equity, venture capital, and other unlisted assets—have historically delivered higher returns than publicly traded stocks and bonds.

Yet access has long been restricted.

Minimum investment requirements often ran into millions of dollars, keeping the space dominated by bigger players like pensions, endowments, and insurance companies.

Stephanie Leung

If you look at this segment, a lot of them have quite a bit of liquid wealth to invest

Tech valuations Even though analysts see signs of recovery—S&P projects residential property sales to reach 20,000 in 2025, the highest since 2019—many investors have begun looking elsewhere.

Global opportunities, particularly in the United States' technology sector, are drawing attention.

“In the past few years, we’ve seen a rise of technology companies in the US, the rise of artificial intelligence (AI),” Leung said. “These are presenting a lot of opportunities not found here.”

She cited OpenAI’s $500b valuation, making it the world’s most valuable private company, alongside SpaceX at a similar range. “All these giants in terms of market caps are staying private for longer," she told the magazine.

The trend has benefitted digital wealth platforms like StashAway, which provide streamlined access to private funds with reduced minimums. Traditionally, high-entry thresholds and lock-up periods excluded younger professionals.

“If you look at this segment, a lot of them have quite a bit of liquid wealth to invest,” Leung said. “However, the options are actually quite limited and oftentimes, there’s a lot of strings attached, for example, very high minimums and lock-ups.”

StashAway positions itself as a digital wealth advisor “with a human touch,” offering private equity access for as little as $20,000—far below institutional levels.

The company also assigns dedicated bond advisers to certain clients.

FIRST

Puneet Sinha

A company slashed its agents' workload by 60% with a gen AI assistant

How vocal analysis can power more personalised services

Helena Ooi

BANKING TECHNOLOGY

T

he tone of a person's voice during a call can now be used to determine whether banks and insurers can make a sale or not.

The battle for personalised services has now bled into vocal intent, transaction patterns, even social media behaviour, market experts and financial institution executives told attendees of the Singapore leg of the Asian Banking & Finance-Insurance Asia Summit 2025 in a panel.

For instance, India-based DataKlout AI Solutions is studying the intent in a voice call from an organisations’ customers.

“So whilst the call is being made, we are able to identify through tonal analytics what exactly the guy’s

interest is, if he’s really interested in your service or product,” said Puneet Sinha, founder and chief executive officer, DataKlout Ai Solutions.

This intent monetisation, as Sinha called it, can help reduce the number of calls that organisations make. It can also be used in collections, customer service, and fraud detection.

Maybank Singapore, meanwhile, has turned to artificial intelligence (AI) to streamline its chief investment officer (CIO) quarterly market outlook into bite-sized stories that can be more easily read. “[There’s] accessible insights for the everyday person, not just having to talk to the [relationship managers]; very actionable type of

Pradeep Malik

There's accessible insights for the everyday person, not just having to talk to the relationship managers

guidance that we've provided. And then for us, we've also seen much higher engagement right across our social media platforms,” said Helena Ooi, head of strategy for sustainability, digital, and data at Maybank Singapore.

Transaction patterns and social media behaviours can also be used to help banks and insurers onboard new clients, with the use of a generative AI assistant.

Nucleus Software, which builds digital platforms for lending, transaction banking, and digital services business units, uses such data so that organisations can offer“very high personalisation and real-time channels.

In one use case, the company manages inbound and outbound queries of a client using a gen AI assistant, reducing the workload of agents by 50% to 60%.

“So with the implementation of this particular solution, using AI, we are able to reduce the workload on the agents by 50 to 60% and they are [able to] focus on another revenue generation stream,” said Pradeep Malik, Global Head, Digital Services, Nucleus Software.

“This way, the bank is able to reduce the cost by 40% to 50%. At the same time, the customer happiness index has gone up,” Malik said.

Meanwhile, Etiqa International Holdings saw a boost in its mobile app onboarding and claims processing by integrating AI in its travel claim assessment.

THE CHARTIST: APAC INVESTMENT BANKING FEES UP 4% TO $18.6B IN 9M 2025

I

nvestment banking fees generated in Asia Pacific (APAC) in the first nine months of 2025 rose 4% to $18.6b, according to data gathered by the London Stock Exchange Group (LSEG).

APAC excluding Japan fees accounted for 19% of the total investment banking fees earned globally, behind the Americas (55%) and Europe (21%), respectively.

Equity capital market underwriting fees rose 48% to $3.7b, the highest JanuarySeptember fee total since 2023.

Debt capital market fees grew 15% to $10.6b during the period, whilst syndicated lending

fees rose by 3% to $1.8b.

The estimated advisory fees earned in the region from completed mergers & acquisitions transactions reached $2.5b,reflecting a 55% increase compared to the same period in 2024.

Amongst investment banks, CITIC took the top position for overall investment banking fees in APAC excluding Japan, with $1.06b of the wallet share or 5.7% of the total fees in the Asia Pacific investment banking fee pool. In the M&A space, the financials sector captured majority of the deal making activity, with a total value of $127.4b – double the value compared to the previous year.

Investment banking fees for APAC ex Japan

Source: London Stock Exchange Group

ASIAN BANKING & FINANCE | Q4 2025 7

INTERVIEW

GXS Bank expands SME lending after Validus acquisition

It’s also targeting Grab merchants and Singtel customers for financing.

G

SINGAPORE

XS Bank Pte. Ltd. is accelerating its push into business lending in Singapore, aiming to narrow the $13.86b to $15.4b (S$18b to S$20b) funding gap faced by small and medium enterprises (SME).

“From the 15th of April to the 31st of August, we’ve been able to grow the loan book 54%,” Vishal Shah, managing director and group head of business banking at GXS, told Asian Banking & Finance in an interview.

The digital bank, backed by Grab Holdings, Inc. and Singapore Telecommunications Ltd. (Singtel), acquired peer-to-business fintech Validus Capital Pte. Ltd. in April.

Since then, GXS has rebranded the unit as GXS Capital and expanded its SME loan portfolio.

Shah said Validus kept its senior team and customers after the acquisition, whilst GXS tapped its parent firms’ ecosystems to add clients. Suppliers of both Grab and Singtel have been recruited, with further partnerships planned.

The bank has also launched pre-qualified lending for Grab merchants and Singtel customers, using transactional data to generate loan offers. For example, food and beverage operators on Grab or broadband subscribers of Singtel may be eligible for targeted financing.

According to GXS, these initiatives mark a key step in scaling small and medium enterprise lending whilst addressing a persistent funding shortfall in Singapore.

Here’s the rest of the interview.

What SME financing needs are banks failing to meet?

Singapore is fairly well-banked when it comes to consumers like you and me, but when it comes to businesses, clearly there is still a funding gap. We estimate close to $13.86b to $15.4b (S$18b to S$20b).

Why does this funding gap exist? Because many incumbent financiers are generally looking for a track record of at least three years in business. If the SME does not have that track record, they would only look at offering secured facilities. That’s a very large segment of the market, typically SMEs that are less than three years in business.

Many also have a criteria of up to five years, without which they may not offer unsecured lending.

No. 2, even today, a lot of financiers—both banks and nonbanks alike—use what we call a traditional way of underwriting. Second is the requirement for collateral, hard collateral, such as cash or property.

Last is pricing. SMEs still would be attracted to pricing, which is much, much higher than what users or individuals like us would get on our personal loan.

How has the integration process been after you bought Validus Capital?

We acquired Validus Capital, which was the Singapore

8 ASIAN BANKING & FINANCE | Q4 2025

Vishal Shah, managing director and group head of business at GXS

business of the Validus Group, and we completed that acquisition on the 15th of April. Through the acquisition, they’ve been able to, No. 1, gain access to competitive funding from GXS Bank. No. 2, we’ve been able to offer complimentary services because Validus is now rebranded to GXS Capital. The services which we’ve built at GXS Bank and what GXS Capital offers are very complementary from a financial standpoint.

From the 15th of April to the 31st of August, we’ve been able to grow the loan book 54%. The early results of the integration have been very, very encouraging.

What strengths did Validus Capital, now GXS Capital, offer that led to the decision to acquire it?

First is the capability, which we got as part of the acquisition: their tech platform. Second is data since they’ve been in the Singapore market for the last 10 years.

Third, the existing partners as well as existing customers, and very importantly, the people.

We've been able to grow the loan book 54%. The early results of the integration have been very, very encouraging

How have you scaled SME lending after acquiring Validus Capital?

From the date we acquired the platform, all new loans have been disbursed through the bank’s balance sheet.

What we’ve been able to do is first, with the existing customers, we had to ringfence and protect them and deepen the relationship. So a large part of the user base had facilities from other banks where they were availing themselves of a much better price.

Now, we can provide the same pricing, if not better.

ASIAN BANKING & FINANCE | Q4 2025 9

CEO INTERVIEW

Baiduri Bank opens Singapore office as critical liaision point for Bruneian firms It seeks to facilitate foreign direct investments into Brunei.

SINGAPORE

B

aiduri Bank has set up a representative office in Singapore to support Bruneian businesses seeking regional expansion and to attract foreign investment into the country.

The office, launched in May, is a “critical liaison point” for foreign direct investment (FDI) and for promoting awareness of Brunei’s evolving business environment, Ti Eng Hui, chief executive officer at Baiduri Bank, told Asian Banking & Finance in an exclusive interview.

Ti described the move as a strategic first step, potentially paving the way for a full branch presence in Singapore in the future. “We see this as more than a physical presence,” Ti said. “It’s a platform for sustained engagement, collaboration, and value creation across borders.”

In recent years, the Brunei lender has increased its participation in syndicated loans and strengthened treasury partnerships with Singapore-based companies.

The currency interchangeability between Brunei and Singapore provides a seamless environment for cross-border financial activities, Ti added.

The bank has also invested in digital infrastructure, introducing innovations such as Baiduri Tap2Pay, the country’s first solution allowing businesses to accept contactless payments via smartphones.

The bank is also experimenting with generative artificial intelligence (AI) through its Emmi chatbot, which can handle complex queries, provide tailored responses, and learn from user interactions to deliver smarter support.

Ti said these developments give the bank a stronger foundation to take an outward-looking approach and diversify beyond its domestic market.

Broader regional ambitions Whilst the representative office does not conduct banking transactions, it aims to facilitate dialogue on foreign direct investments (FDIs) in Brunei in collaboration with partners, including the Brunei Economic Development Board.

Ti cited growing discussions between Brunei and Singapore, particularly in Brunei’s five priority sectors: downstream oil and gas, food, services, information and communications technology, and tourism.

Baiduri Bank also has broader regional ambitions, although Brunei remains its core market. “The establishment of our representative office in Singapore marks a carefully considered first step towards building stronger regional linkages,” Ti said.

He added that the bank plans to explore markets with strong intra-Association of Southeast Asian Nations (ASEAN) trade and investment activity, as well as growing demand for Bruneian products, services, and capital.

“Ultimately, our goal is to help Bruneian firms gain a foothold in competitive regional markets like Singapore, whilst also serving as a gateway for ASEAN and international investors to explore Brunei’s emerging opportunities,” Ti told the magazine.

10 ASIAN BANKING & FINANCE | Q4 2025

Ultimately, our goal is to help Bruneian firms gain a foothold in competitive regional markets like Singapore

With the Singapore office, Baiduri Bank seeks to strengthen cross-border partnerships, support regional expansion for domestic companies, and enhance Brunei’s presence in the ASEAN financial landscape.

“Over the long term, we see value in gradually expanding our international footprint—particularly within the ASEAN region, which continues to show strong economic momentum and offers synergies with Brunei’s trade and investment priorities,” he added.

'Strategic entry point' Brunei presents opportunities for Singaporean and international investors, Ti said. Key areas of interest include renewable energy and green technologies, food security and agri-tech, and digital services and fintech.

As of 2023, the majority of Brunei’s total energy supply comes from natural gas, oil, and coal, according to data from the International Energy Agency (IEA).

The country is aiming to increase its total share of renewable energy to at least 30% of total capacity in the power generation mix by 2035, according to an April 2025 presentation by Brunei’s Department of Energy.

Brunei also has a target of having a 200MW capacity of renewable energy in 2025. “Brunei offers a strategic entry point for long-term investment in high-potential, underpenetrated sectors,” Ti said.

Ti Eng Hui, CEO at Baiduri Bank

ASIAN BANKING & FINANCE | Q4 2025 11

INTERVIEW

Citi expands tokenisation, real-time tools

Its suite of digital services optimises cash positioning and cuts operational friction.

C

APAC

itigroup, Inc. is accelerating its push into tokenisation and automation as corporate treasuries increasingly demand real-time access to liquidity and global cash visibility.

The bank’s latest suite of digital services aims to eliminate operational constraints caused by cut-off times, public holidays, and regional time zones.

“The lack of clear, real-time insight into cash positions across various accounts and entities can create several challenges including difficulty in cash forecasting, inefficient cash allocation and deployment, increased operational cost and risks, and impaired strategic decision-making,” Stephen Randall, global head of liquidity management services at Citi, told Asian Banking & Finance.

More visibility Best-in-class treasury operations are those with robust forecasting capabilities and a centralised liquidity pool, according to Citi’s November 2023 research.

This has put pressure on banks to innovate and meet the evolving needs of clients.

“There is a demand for higher, quicker and more flows,” Randall said in an exclusive interview. Clients also want improved visibility and ease of reconciliation.

To address this, Citi has launched several initiatives, including Citi Token Services (CTS), Real-Time Funding (RTF), and 7-Day Sweeps, all meant to optimise cash positioning and cut operational friction.

CTS lets clients move cash instantly across borders without being constrained by holidays or banking cut-offs.

“Asia has been a key focus for CTS, with two out of the four markets that are live today being in Asia—Singapore and Hong Kong,” Randall told the magazine.

Meanwhile, Real-Time Funding allows clients to transfer money across their Citi accounts globally in real time.

“For example, a client might need to make instant or urgent payments from their Citi Hong Kong account today, yet their funds are sitting in an account at Citi London."

“RTF automates a real-time transfer across their Citi accounts so that they can make these payments when their business needs it without manually processing the account funding," he continued.

Real-Time Funding is live in Australia, Hong Kong, and the UK, with plans to expand into Singapore, Thailand, China, and Taiwan. Citi’s 7-Day Sweeps service, which automates 24/7 liquidity management, is now available in the US, South Korea, and Thailand.

“Citi’s 7-day sweeps are actually processed and posted on holidays, reducing reconciliation overages and higher buffer of liquidity over weekends and public holidays,” he said.

He noted that treasurers are increasingly shifting from 12 ASIAN BANKING & FINANCE | Q4 2025

Stephen Randall, global head of liquidity management services at Citi

They want their liquidity structures to be agile enough to support cash flow volatilities especially through market uncertainties

static liquidity structures—typically reviewed annually—to more agile systems that can respond to cash flow volatility.

“They want their liquidity structures to be agile enough to support cash flow volatilities especially through market uncertainties stemming from the recent geopolitical and tariff-linked supply chain shifts.”

Clients are also turning to Citi for digital solutions and advisory support as they face risks related to interest rates and foreign exchange.

Randall said one key benefit of automation and digitalisation is gaining timely access to important data on global cash positions, which helps clients make better decisions. He added that Citi Treasury Diagnostics, the bank’s global benchmarking tool, can show clients how their treasury operations compare to best practices.

Citi offers advanced programming interfaces such as Balance Inquiry and Payment Status, along with integration support, to help clients optimise their treasury systems.

Randall said solutions like Citi Treasury Diagnostics could help clients benchmark their treasury practices and unlock further improvements through automation.

Clients should then make use of technology-based services from banks and system providers to eliminate people-dependency, engineer better processes, automate, and digitalise, he added.

ASIAN BANKING & FINANCE | Q4 2025 13

INTERVIEW

Security Bank expands services with fresh apps MSMEs are a key focus of the Philippine lender’s modernisation efforts.

PHILIPPINES

S

ecurity Bank is pushing forward with a technology overhaul that seeks to deliver faster, simpler, and a more rewarding banking experience across its retail and business segments.

The initiative includes revamped digital platforms, fresh mobile apps, and advanced artificial intelligence (AI) integration, with major rollouts scheduled for the third quarter, Lucose Eralil, Security Bank’s chief operating officer and executive vice president, told Asian Banking & Finance.

The Philippine lender’s transformation spans its entire technology stack—from branch systems to mobile and online banking platforms.

Amongst the upgrades is the launch of a fresh mobile app for retail banking that features real-time data streaming, two-factor authentication, and unified account integration.

As of May 2025, the app had over 900,000 active users and processed more than 20.5 million transactions, Eralil said.

Security Bank is also implementing “segment-specific strategies” across its operations. In retail banking, it includes re-architecting its online banking infrastructure, introducing digital onboarding and e-Know Your Customer (e-KYC) processes, upgrading ATM fleets, and launching personal finance management tools, he added.

Challenges for MSMEs For business banking, the focus is on trade and supply chain management. The bank is revamping its online platform and digital onboarding systems to better serve corporate clients and micro, small, and medium enterprises (MSME).

Two apps—the Security Bank Enterprise app for large companies and Security Bank Business app for MSMEs— was launched in the third quarter. “We’re also introducing a new wealth platform that will streamline portfolio management and offer comprehensive reporting and insights,” Eralil told the magazine.

The lender is exploring the use of conversational and agentic AI to enhance decision-making and customer service. AI-driven fraud management, customer lifecycle management, and personalised marketing technologies are amongst the innovations being tested.

MSMEs, which account for more than 99% of businesses and 60% of the workforce in the Philippines, are a key focus of the bank’s modernisation efforts.

Eralil noted that these companies face persistent challenges such as limited access to credit and cash flow issues. Security Bank wants to plug these gaps with tailored financial solutions, marketing support, and technology integration, he told Asian Banking & Finance.

Strategic partnerships have played a key role in accelerating the bank’s digital transformation.

Collaborations with vendors have allowed the delivery of real-time, always-on payment services, with the bank now processing about three million transactions monthly.

Security Bank’s ecosystem approach includes partnerships that expand its service offerings and vendor collaborations that bring global best practices to its operations, Eralil said.

14 ASIAN BANKING & FINANCE | Q4 2025

Lucose Eralil, chief operating officer and executive vice president at Security Bank

Notable partners include Amazon Web Services, which supports the bank’s cloud migration; Qualtrics, which enhances customer feedback mechanisms; and Capgemini, which helped launch a centralised payment hub integrating domestic and international payment rails, he added.

We're also introducing a new wealth platform that will streamline portfolio management

Authentic employee stories To deepen customer engagement and draw top talent, Security Bank is not just investing in technology but is also highlighting its employees.

The lender launched a new wave of its #YouMatter video series in June 2025, spotlighting the lives and workplace experiences of 40 employees. The campaign shows how Security Bank supports its people through programs, benefits, and an inclusive workplace culture.

“For potential clients, it humanizes the brand and sets us apart in a crowded market,” chief people officer Nerissa Berba told Asian Banking & Finance. “For existing customers, it reaffirms that they’re banking with an institution that genuinely prioritizes their needs, strengthening loyalty and long-term relationships.”

The marketing campaign was well received by employees, boosting morale and reinforcing a culture of appreciation, she said in an exclusive interview with the publication.

No friend in sight just when you need them the most?

SBF answers where BFFs vanish.

www.sbfinance.com.ph

ASIAN BANKING & FINANCE | Q4 2025 15

CEO INTERVIEW

ZA Bank sharpens focus on wealth, digital assets

platform that helps customers grow their assets through hyper-personalised experiences and frictionless access to global markets,” he told the magazine.

“Wealth is not just a feature; it’s our profit engine. And we’re scaling it with purpose," he continued.

The digital lender plans to launch Hong Kong stock trading later this year.

HONG KONG

Z

A Bank Ltd. will intensify its focus on wealth management as it seeks to capture opportunities in one of Hong Kong’s fastest-growing financial sectors, newly appointed CEO Calvin Ng said.

“I would say our focus now is more on wealth management because we have the base,” he told Asian Banking & Finance. “We have accumulated trust with the users. We have more products around it.”

“We still have more asset classes to introduce. Once the basic suite is assembled, that will become our digital wealth management focus moving forward,” he added.

The digital bank already offers crypto trading, US stock trading, and access to more than 170 funds and unit trusts.

Ng said Hong Kong stock trading is also on the way, with launch expected later this year.

Strengthening its wealth proposition, however, is just one part of Ng’s broader strategy as CEO. He said ZA Bank will deepen its product stack, enhance risk management, and accelerate automation across core banking operations.

The lender is also investing in artificial intelligence to sharpen efficiency and deliver more personalised customer experiences. Predictive analytics and data-driven insights, Ng said, are now central to product design and engagement.

“AI allows us to better understand customer behaviour and deliver smarter, faster services without adding operational overhead,” he said.

Ng added that the bank is expanding its in-house expertise in technology and compliance to support new ventures in digital assets, stablecoins, and Web3.

“Our long-term vision is to merge traditional finance with digital innovation under a single, trusted platform,” he said. “That convergence will define the next phase of banking in Hong Kong.”

'Next generation's first choice' Hong Kong’s total assets under management rose 13% year-on-year to $4.5t (HK$35t) in 2024, according to the Hong Kong Monetary Authority and the Securities and Futures Commission. ZA Bank sees this expansion as fertile ground for digital players.

“The opportunity for us is how to make wealth management work under the digital wealth era,” Ng said.

“Consumer behaviour has changed, with more options available globally and with users now empowered to make their own informed decisions. That shift will open new opportunities for us as a bank to keep up with the trend and ride along the wave," he continued.

The CEO said the goal is to position ZA Bank as the next generation’s first choice for digital wealth. In the first half of 2025, the digital bank reached one million users.

“We aim to build a seamless, diversified, all-in-one wealth 16 ASIAN BANKING & FINANCE | Q4 2025

Wealth is not just a feature; it's our profit engine. And we're scaling it with purpose

Calvin Ng, CEO at ZA Bank

'One-size-fits-you' Beyond wealth products, Ng said the bank would double down on digital assets and Web3 services.

“Web3 is here, but it needs trusted bridges,” he said.

ZA Bank wants to bring bank-level compliance to digital asset transactions whilst letting customers trade crypto instantly through their savings accounts. In 2024, ZA Bank became the first bank in Asia to offer retail crypto trading.

The bank was also the first digital bank in Hong Kong to provide reserve banking services for stablecoin users.

With Hong Kong’s stablecoin law taking effect in August, requiring issuers of fiat-pegged tokens to secure licences, ZA Bank aims to become a reserve partner for licensed issuers.

“The law provides clarity and opens new opportunities,” Ng said. Technology and efficiency also rank high on Ng’s agenda. The bank is using artificial intelligence to identify risk signals, streamline back-end processes, and deliver smarter customer service via chatbots and automation.

“Consumers today expect Netflix-style banking—fast, relevant, and tailored to them,” Ng said. “The future isn’t onesize-fits-all; it’s one-size-fits-you.”

We’re your

payments people Embedded payments designed to grow your software platform We help software companies become the everything platform for their customers, by delivering powerful and seamless payment experiences.

Whether it’s card, bank, in-person or digital payments, every transaction feels effortless.

Make payments your platform’s superpower with the trusted partner behind some of the world’s fastest-growing SaaS companies.

4bn 600k

transactions handled annually

merchants rely on our technology

1k

software partners

$400bn processing volume per year

Let’s talk. platforms.worldpay.com/en

ASIAN BANKING & FINANCE | Q4 2025 17

CASE STUDY: OCBC HONG KONG

OCBC eyes $2.7b for serial entrepreneurs OCBC Group has lent $1.17b to more than 1,800 repeat founders since 2017.

Since 2017, OCBC has extended $1.17b to over 1,800 serial entrepreneurs

HONG KONG

O

CBC Hong Kong has launched a dedicated department to provide more than $2.7b in financing to serial entrepreneurs from 2025 to 2028.

Serial entrepreneurs operate multiple companies, aiming to grow and eventually sell them.

In Singapore, one in three new businesses is started by someone already running another company, said Ruby Yiu, head of emerging business at OCBC Hong Kong.

“We see the same trend in Hong Kong,” she told Asian Banking & Finance. “We are focusing on serial entrepreneurs because they are a huge and fast-growing segment.”

Many entrepreneurs in Hong Kong operate new ventures within family businesses seeking modernisation, or focus on sustainability sectors such as renewable energy and clean technology. Several plan regional expansions, which the bank aims to support through its financing and advisory services.

Since 2017, OCBC has extended $1.17b to more than 1,800 serial entrepreneurs. The bank seeks to more than double that funding in the next three years.

To identify clients, it uses advanced data analytics, customer feedback, and proprietary algorithms to find

18 ASIAN BANKING & FINANCE | Q4 2025

We proactively engage those with scalable business models and expansion plans to offer tailored and sector-specific financing solutions

Ruby Yiu

entrepreneurs managing multiple active businesses.

Holistic approach According to Yiu, the bank takes a holistic approach, assessing entrepreneurs’ experience, track record, and overall strategy across their companies, rather than evaluating each venture separately.

“We proactively engage those with scalable business models and expansion plans to offer tailored and sector-specific financing solutions,” she said in an interview.

OCBC’s regional network also supports cross-border growth in markets such as Singapore, Malaysia, as well as Indonesia.

The department is part of a broader plan to provide capital and guidance that grows with entrepreneurs, helping them scale businesses locally and internationally, Yiu told the magazine.

Most recently, OCBC announced plans to provide social loans to 10,000 women entrepreneurs across Singapore, Malaysia, Hong Kong, and Indonesia by 2030 through various dedicated programmes.

The bank has supported 2,000 women-owned SMEs across Southeast Asia as of June 2025.

Total social loan commitments are

close to $462m.

Programmes named include the OCBC Women Unlimited Programme, launched in Singapore in April 2024 and in Malaysia in August 2025. In Indonesia, the programme is known as the Women Warriors Programme, and was rolled out in the year 2020.

Under the programme in Singapore, women-owned SMEs can secure financing of up to $77,000 within their first two years of incorporation, with processing fees waived for these loans.

One in three of OCBC’s SME customers in Singapore, Malaysia, Indonesia, and Hong Kong are reportedly owned by women entrepreneurs, the bank said in a press release on 17 September 2025.

OCBC found that womenowned SMEs in Singapore typically experience about 30% lower sales turnover growth in their first three years of operation compared to male-owned enterprises.

Upskilling programmes Separately, OCBC also recently introduced an upskilling programme for mortgage specialists to become wealth advisors. The programme aims to equip the bank’s senior mortgage specialists with a strong foundation in wealth management.

Participants will attain the Capital Markets and Financial Advisory Services (CMFAS) certifications administered by the Institute of Banking and Finance Singapore.

These certifications, which are required of relationship managers (RM), validate the upskilled specialist’s advisory capabilities across portfolio management, asset allocation, client engagement, and compliance.

The specialists will also receive hands-on support from product experts in investments, bancassurance, and FX. During initial client meetings, they will be accompanied by supervisors who provide real-time coaching on advisory conversations and engagement strategies.

Shaping the Next Decade of Growth

Celebrating a Decade of Progress

Building Pathways for Growth

Addressing Unresolved Challenges

Secure your spot with 20% discount on your Delegate Pass Code: SFFSMPABF

ASIAN BANKING & FINANCE | Q4 2025 19

EVENT NEWS: ASIAN BANKING & FINANCE SUMMIT - SINGAPORE

Why Singapore’s digital banks target gig workers and micro businesses Many SME owners use personal bank accounts due to high fees of business accounts.

S

SINGAPORE

ingapore’s digital banks are scaling operations not by targeting specific segments but specific needs.

Senior executives from GXS Bank, MariBank, and Trust Bank told attendees of the Asian Banking & Finance and Insurance Asia Summit 2025 in Singapore that whilst the country is well-banked, opportunities exist in spaces that are overlooked and not well-served such as micro enterprises and gig works.

Specific programmes MariBank found that many business owners of small and micro enterprises do not have business banking accounts due to high costs.

“We found that 1 in 3 businesses are using their personal banking account for their business needs rather than a business banking account, because of the high fees and transaction costs associated with using a business banking account for overseas remittance, for example,” said Natalia Goh, CEO of MariBank.

This has pushed MariBank to rollout a cross-border remittance limit for both small businesses and retail customers, with the promise of “very low cost, very competitive” FX rates, she told the summit.

Small and micro enterprises make up about 95% of the 350,000 small and medium enterprises (SMEs) in the city-state.

GXS Bank, meanwhile, sees the biggest opportunity in providing banking services to gig workers and agency workers who are not employed all the time, said group chief executive officer Pei Si Lai. Like MariBank and Goh, Lai sees opportunity in businesses as well— but not necessarily the new players.

“The second big group are truly the businesses, and not necessarily only those who are startups, but also those who have that experience, or have actually long operating years of experience,” Lai said.

Trust Bank, meanwhile, believes that what enabled it to cross 1 million

20 ASIAN BANKING & FINANCE | Q4 2025

Lai, Goh, and Aga in a panel moderated by Oliver Wyman's Anosh Pardiwalla

customers last February was rolling out technology that brings value whilst being mindful of the costs.

“The way I see it is that you have to be clear whether it is a cost or a value.

What value are you getting?” Fredy Aga, chief financial officer, Trust Bank, asked attendees.

Aga highlighted Trust Bank's adoption of artificial intelligence (AI), which they specifically used in evaluating clients’ credit quality.

“Most of us are using unsecured lending, so credit quality is equally important,” he said.

The second big group are truly the businesses, and not necessarily only those who are startups, but also those who have that experience

Other opportunities Apart from loans, the digital banks are also eyeing investing services as a means to grow operations further.

MariBank has rolled out an investment product that enables customers to invest for just S$1.

The fund has already grown to $1b (S$1.4b) already, Goh said.

Pei sees investments as another big area for GXS Bank after lending.

"Whether they are low network or high level [investors], they are looking to enhance returns.”

Trust also rolled out its investment platform, TrustInvest, just in

February this year.

Summit speakers honed in on wealth management during the event.

Citi Wealth’s Gunjan Bhatt highlighted that the use of AI should enhance the work of wealth advisors, not replace them.

“The traditional narrative is to scale. AI has been automating everything,” said Bhatt. “But we feel this is missing out [on the] most important element in the wealth management business, which is building trust," he added.

Meanwhile, DBS has made foreign exchange (FX) and commodities products more accessible for its retail investors seeking to capitalise on the good returns offered by currencies and precious metals.

This is in answer to a dilemma that DBS faced a few years back: how to reach the non-accredited and non-idealised investors amongst its 300,000 wealth management clients in Singapore and Hong Kong, said Rohit Meena, who is a managing director at the Singaporean bank.

Retail investors have increasingly looked into non-traditional investment classes as their returns from stock markets erode, he said.

ASIAN BANKING & FINANCE | Q4 2025 21

EVENT: ASIAN BANKING & FINANCE AWARDS

Leading banks, financial companies lauded at Asian Banking & Finance Awards 2025

T

he prestigious Asian Banking & Finance Awards 2025 marked another remarkable year of recognition for the region’s most outstanding banks, financial companies, and initiatives that continue to shape the future of banking in Asia.

Presented by Asian Banking & Finance, the event honours excellence across three distinguished awards programmes — the Retail Banking Awards, Wholesale Banking Awards, and Corporate & Investment Banking Awards under the Asian Banking & Finance Awards umbrella. Together, these programmes gathered the finest industry leaders to showcase the best of innovation, performance, and leadership at the Awards Dinner held on 3 July 2025 in Singapore.

Silvio Strubio, Partner at Simon-Kucher and one of the judges in the awards programme highlighted that the winning companies have gone beyond surface-level innovation and demonstrated real impact.

"I prioritised forward-looking innovations that signal a shift in how financial services will be delivered in the future, and not just shortterm campaigns or new branch models," he said.

The awards recognise exceptional institutions that are redefining the banking experience through innovative products, digital

transformation, and standout customer service, whilst highlighting impactful solutions that support businesses and large-scale enterprises.

It spotlights firms that exemplified excellence in strategy, innovation, and execution, contributing significantly to the growth and resilience of Asia’s financial markets.

This year's judging panel comprised distinguished industry experts, including: • Sumit Narayanan, Managing Partner, Financial Services ASEAN, Ernst & Young • Antony Ruddenklau, Partner and Head of Financial Services, Global Head of Fintech and Innovation, Financial Services, KPMG Singapore & KPMG International • Mansi Singh, Financial Services Strategy and Operations Partner, PwC Southeast Asia Consulting • Alessandro Magarini Montenero, Partner, Financial Services, Bain & Co. • Tushar Agarwal, Managing Director & Partner, Boston Consulting Group • Silvio Struebi, Partner, Head of Banking APAC, Simon-Kucher Congratulations to all the winners!

ASIAN BANKING & FINANCE CORPORATE AND INVESTMENT BANKING AWARDS 2025 WINNERS

BPI Capital Corporation • Blue Bond of the Year - Philippines • Mergers and Acquisitions Deal of the Year - Philippines • Sustainability-linked Bond of the Year - Philippines

Aktif Bank • Corporate Client Initiative of the Year - Turkey • Initiative Award for Customer Engagement -Turkey

CB Bank • Corporate & Investment Bank of the Year - Myanmar

Amana Bank PLC • Green Deal of the Year - Sri Lanka Axis Capital Limited • Securities House of the Year - India Bandhan Bank • Initiative Award for Digital Transformation - India Bank Alfalah Limited • Initiative Award for Financial Inclusion - Pakistan Bank Muscat SAOG • Corporate & Investment Bank of the Year - Oman • IPO Deal of the Year - Oman • Project Infrastructure Finance Deal of the Year - Oman Bank of Ayudhya PCL. • Initiative Award for Trade Finance Solution - Thailand Bank of Commerce • Project Infrastructure Finance Deal of the Year - Philippines BankIslami Pakistan Limited • IPO Deal of the Year - Pakistan Bank SinoPac • Initiative Award for Green Finance - Taiwan BDO Capital & Investment Corporation • Corporate & Investment Bank of the Year - Philippines • Project Infrastructure Finance Deal of the Year - Philippines • Sustainability-linked Bond of the Year - Philippines 22 ASIAN BANKING & FINANCE | Q4 2025

CGS International Securities Malaysia Sdn. Bhd. • Securities House of the Year - Malaysia CGS International Securities Singapore Pte. Ltd. • Equity Deal of the Year - Singapore • Securities House of the Year - Singapore China Bank Capital Corporation • Debt Deal of the Year - Philippines • Project Infrastructure Finance Deal of the Year - Philippines • Sustainability-linked Bond of the Year - Philippines CHINA CITIC BANK INTERNATIONAL LIMITED • Green Deal of the Year - Hong Kong • Innovative Deal of the Year - Hong Kong CIMB Investment Bank Berhad • Corporate & Investment Bank of the Year - Malaysia • IPO Deal of the Year - Malaysia CIMB Singapore • Syndicated Loan of the Year - Singapore Commercial Bank of Ceylon PLC • Debt Deal of the Year - Sri Lanka • Equity Deal of the Year - Sri Lanka CTBC Bank • Corporate & Investment Bank of the Year - Taiwan • Corporate Client Initiative of the Year - Taiwan • Green Deal of the Year - Taiwan East West Banking Corporation • Blue Bond of the Year - Philippines

25 Faysal Bank Limited • Debt Deal of the Year - Pakistan • Green Deal of the Year - Pakistan Fiera Capital • Debt Deal of the Year - New Zealand First Metro Investment Corporation • Blue Bond of the Year - Philippines • Sustainability-linked Bond of the Year - Philippines

OCBC Bank (Malaysia) Berhad • Debt Deal of the Year - Malaysia • Green Deal of the Year - Malaysia • Syndicated Loan of the Year - Malaysia Pak China Investment Company Limited • Innovative Deal of the Year - Pakistan PNB Capital and Investment Corporation • Sustainability Bond of the Year - Philippines

Grant Samuel • Mergers and Acquisitions Deal of the Year - Indonesia

Prabhu Bank Ltd • Corporate & Investment Bank of the Year - Nepal

Gulf International Bank • Syndicated Loan of the Year - Bahrain

Prime Bank Investment Limited • Corporate & Investment Bank of the Year - Bangladesh • Initiative Award for Financial Inclusion - Bangladesh • Mergers and Acquisitions Deal of the Year - Bangladesh

Habib Bank Limited • Corporate & Investment Bank of the Year - Pakistan HL Bank • Corporate Client Initiative of the Year - Singapore • Growth Strategy of the Year - Singapore Ho Chi Minh City Securities Corporation (HSC) • Corporate & Investment Bank of the Year - Vietnam HSBC • Innovative Deal of the Year - Singapore Indonesia Infrastructure Finance • Debt Deal of the Year - Indonesia • Innovative Deal of the Year - Indonesia

PT Bank CIMB Niaga Tbk • Corporate & Investment Bank of the Year - Indonesia • Corporate Client Initiative of the Year - Indonesia • Syndicated Loan of the Year - Indonesia PT Bank Negara Indonesia (Persero) Tbk • Green Deal of the Year - Indonesia • Project Infrastructure Finance Deal of the Year - Indonesia PT BNI Sekuritas • Equity Deal of the Year - Indonesia PT CGS International Sekuritas Indonesia • Securities House of the Year - Indonesia

Infrastructure Development Company Limited (IDCOL) • Green Deal of the Year - Bangladesh • Project Infrastructure Finance Deal of the Year - Bangladesh

PUBLIC INVESTMENT BANK BERHAD • Project Infrastructure Finance Deal of the Year - Malaysia

Jefferies • Corporate & Investment Bank of the Year - India

RHB Bank Berhad • IPO Deal of the Year - Singapore

JSC Halyk Bank • Corporate & Investment Bank of the Year - Kazakhstan

RHB Investment Bank Berhad • Mergers and Acquisitions Deal of the Year - Malaysia

KENANGA INVESTMENT BANK BERHAD • Initiative Award for Digital Innovation - Malaysia

Rizal Commercial Banking Corporation • Growth Strategy of the Year - Philippines

Maybank Investment Bank Berhad • Equity Deal of the Year - Malaysia • Sustainability Bond of the Year - Malaysia • Sustainability-linked Bond of the Year - Malaysia

Security Bank Capital Investment Corporation • Sustainability-linked Bond of the Year - Philippines • Syndicated Loan of the Year - Philippines

Maybank Securities (Thailand) Public Company Limited • Corporate & Investment Bank of the Year - Thailand

Taipei Fubon Commercial Bank Co., Ltd. • Innovative Deal of the Year - Taiwan • Syndicated Loan of the Year - Taiwan

Meezan Bank Limited • Project Infrastructure Finance Deal of the Year - Pakistan

The National Bank of Ras Al Khaimah (P.S.C.) • Social Bond of the Year - UAE

Myanmar Citizens Bank • Compliance Initiative of the Year - Myanmar • Risk Initiative of the Year - Myanmar

The Siam Commercial Bank Public Company Limited • Green Deal of the Year - Thailand • Debt Deal of the Year - Thailand • Sustainability-linked Bond of the Year - Thailand

National Bank of Pakistan • Syndicated Loan of the Year - Pakistan NewParadigm Securities • Innovative Deal of the Year - Malaysia OCBC • Green Deal of the Year - China • Green Deal of the Year - Singapore

Unicapital, Inc. • Innovative Deal of the Year - Philippines United Overseas Bank (China) Limited • Debt Deal of the Year - China United Overseas Bank (Thai) Public Company Limited • Syndicated Loan of the Year - Thailand ASIAN BANKING & FINANCE | Q4 2025 23

EVENT: ASIAN BANKING & FINANCE AWARDS United Overseas Bank (Vietnam) Limited • Debt Deal of the Year - Vietnam United Overseas Bank Limited • Mergers and Acquisitions Deal of the Year - Singapore • Sustainability-linked Bond of the Year - Singapore • Corporate & Investment Bank of the Year - Singapore United Overseas Bank Limited (Hong Kong) • Social Bond of the Year - Hong Kong United Overseas Bank Ltd., Tokyo Branch • Growth Strategy of the Year - Japan Unitus Capital • Impact-Focused Investment Bank of the Year - India

ASIAN BANKING & FINANCE WHOLESALE BANKING AWARDS 2025 WINNERS Affin Bank Berhad • Malaysia Domestic Technology & Operations Bank of the Year Axis Bank Ltd. • India Domestic Digital Transformation Bank of the Year Bangkok Bank PCL • Thailand Domestic SME Partnership Initiative of the Year • Thailand Domestic Trade Finance Bank of the Year Bank Alfalah Limited • Pakistan Domestic Financial Inclusion Initiative of the Year Bank Muscat • Oman Domestic Project Finance Bank of the Year • Oman Domestic Trade Finance Bank of the Year Bank of Ayudhya PCL (Krungsri) • Thailand Domestic Digital Transformation Bank of the Year • Thailand Domestic Technology & Operations Bank of the Year Bank of China (Hong Kong) Limited • Hong Kong Domestic Cash Management Bank of the Year Bank of Communications (Hong Kong) Ltd • Hong Kong International Cash Management Bank of the Year • Hong Kong International Green Financing Bank of the Year Bank of the Philippine Islands • Philippines Domestic Foreign Exchange Bank of the Year • Philippines Domestic Green Financing Bank of the Year

Cathay United Bank • Taiwan Domestic Cash Management Bank of the Year • Taiwan Domestic Trade Finance Bank of the Year CB Bank • Myanmar Domestic Trade Finance Bank of the Year CIMB Group Holdings Berhad • Malaysia Domestic Sustainable Finance Initiative of the Year CIMB Singapore • Singapore International Cash Management Bank of the Year • Singapore International Green Financing Bank of the Year CJSC "MBank" • Kyrgyzstan Domestic Digital Transformation Bank of the Year Commercial Bank of Ceylon PLC • Sri Lanka Domestic ESG Program of the Year • Sri Lanka Domestic Trade Finance Bank of the Year CTBC Bank • Taiwan Domestic Foreign Exchange Bank of the Year DBS Bank Ltd • Singapore Domestic Digital Transformation Bank of the Year • Singapore Domestic Technology & Operations Bank of the Year • Singapore Domestic Trade Finance Bank of the Year East West Banking Corporation • Philippines Domestic Technology & Operations Bank of the Year Far Eastern International Bank • Taiwan Domestic Risk Management Initiative of the Year Faysal Bank Limited • Pakistan Domestic Green Financing Bank of the Year First Abu Dhabi Bank • UAE Domestic Cash Management Bank of the Year • UAE Domestic Trade Finance Bank of the Year Gulf International Bank B.S.C. • Bahrain Domestic Blockchain Initiative of the Year • Bahrain Domestic Cash Management Bank of the Year • UAE International Cash Management Bank of the Year Habib Metropolitan Bank • Pakistan Domestic Cash Management Bank of the Year Hang Seng Bank • China International Green Financing Bank of the Year • China International Trade Finance Bank of the Year • Hong Kong Domestic Trade Finance Bank of the Year

Bank SinoPac • Taiwan Domestic Green Financing Bank of the Year

HBL • Pakistan Domestic Project Finance Bank of the Year • Pakistan Domestic Trade Finance Bank of the Year

Banque Misr • Egypt Domestic Mobile Banking Initiative of the Year

Hong Leong Bank • Malaysia Domestic Cash Management Bank of the Year

BDO Unibank, Inc. • Philippines Domestic Project Finance Bank of the Year BPI Capital Corporation • Philippines Domestic ESG Program of the Year BSF Bank • Saudi Arabia Domestic Cash Management Bank of the Year • Saudi Arabia Domestic Liquidity Management Bank of the Year 24 ASIAN BANKING & FINANCE | Q4 2025

Housing & Development Bank (HDB) • Egypt Domestic Cash Management Bank of the Year HSBC • Philippines International Cash Management Bank of the Year • Philippines International Trade Finance Bank of the Year • Sri Lanka International Green Financing Bank of the Year HSBC Bangladesh • Bangladesh International Trade Finance Bank of the Year

25 IDFC FIRST Bank Limited • India Domestic Cash Management Bank of the Year Industrial and Commercial Bank of China (Asia) Limited • Hong Kong International Corporate Liquidity Management Bank of the Year Infrastructure Development Company Limited (IDCOL) • Bangladesh Domestic Project Finance Bank of the Year • Bangladesh International Green Financing Bank of the Year ING • Philippines International Foreign Exchange Bank of the Year • South Korea International Trade Finance Bank of the Year • Taiwan International Trade Finance Bank of the Year Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB) • Vietnam Domestic Risk Management Initiative of the Year JS Bank • Pakistan Domestic ESG Program of the Year • Pakistan Domestic Health & Wellness Bank of the Year Landbank of the Philippines • Philippines Domestic SME Partnership Initiative Bank of the Year MASHREQ • UAE Domestic Automation Initiative of the Year Mashreq Private Banking • Private Bank of the Year - UAE • Wealth Management Platform of the Year - UAE Maybank • Malaysia Domestic Trade Finance Bank of the Year • Singapore International Trade Finance Bank of the Year Maybank Investment Bank Berhad • Malaysia Domestic Green Financing Bank of the Year • Malaysia Domestic Project Finance Bank of the Year Nabil Bank Ltd • Nepal Domestic Project Finance Bank of the Year National Development Bank PLC • Sri Lanka Domestic Project Finance Bank of the Year Nepal SBI Bank Limited • Nepal Domestic Digital Transformation Bank of the Year • Nepal Domestic Technology & Operations Bank of the Year

PT Bank Rakyat Indonesia • Indonesia Domestic Foreign Exchange Bank of the Year • Indonesia Domestic Green Financing Bank of the Year PT. Bank Central Asia, Tbk • Indonesia Domestic Technology & Operations Bank of the Year PT. Bank Negara Indonesia (Persero) Tbk • Indonesia Domestic Health & Wellness Bank of the Year RAKBANK • UAE Domestic Big Data & Analytics Initiative of the Year RHB Bank Berhad • Malaysia Domestic Foreign Exchange Bank of the Year Rizal Commercial Banking Corporation (RCBC) • Philippines Domestic Payroll Solution Initiative of the Year Saigon-Hanoi Commercial Joint Stock Bank (SHB) • Vietnam Domestic ESG Program of the Year • Vietnam Domestic Health & Wellness Bank of the Year Security Bank Corporation • Philippines Domestic Trade Finance Bank of the Year • Philippines Domestic Cash Management Bank of the Year Standard Chartered Bank (Bangladesh) • Bangladesh International Digital Transformation Bank of the Year Standard Chartered Bank (Taiwan) Limited • Taiwan Domestic SME Partnership Initiative of the Year The Bank of Punjab • Pakistan Domestic SME Partnership Initiative of the Year • Pakistan Domestic Sustainable Finance Initiative of the Year • Pakistan Domestic Liquidity Management Bank of the Year United Arab Bank • UAE Domestic Technology & Operations Bank of the Year United Overseas Bank (Thai) Public Company Limited • Thailand International Green Financing Bank of the Year • Thailand International SME Partnership Initiative of the Year United Overseas Bank Limited • Brunei International Project Finance Bank of the Year UOB Ltd • Singapore Domestic Health & Wellness Bank of the Year

OCBC • Indonesia International Trade Finance Bank of the Year • Malaysia International Cash Management Bank of the Year • Malaysia International Trade Finance Bank of the Year • Singapore Domestic Cash Management Bank of the Year

Vietnam Bank for Agriculture and Rural Development (Agribank) • Vietnam Domestic Foreign Exchange Bank of the Year

OCBC Bank (Malaysia) Berhad • Malaysia International Green Financing Bank of the Year

ASIAN BANKING & FINANCE RETAIL BANKING AWARDS 2025 WINNERS

Pan Asia Banking Corporation • Sri Lanka Domestic Technology & Operations Bank of the Year PT Bank CIMB Niaga Tbk • Indonesia Domestic Cross-Border Service Initiative of the Year • Indonesia Domestic Project Finance Bank of the Year PT Bank Mandiri (Persero) Tbk • Indonesia Domestic Cash Management Bank of the Year • Indonesia Domestic Data Governance Bank of the Year • Indonesia Domestic Trade Finance Bank of the Year

Westpac Banking Corporate • Australia Domestic SME Partnership Initiative of the Year

ABA Bank • Domestic Retail Bank of the Year - Cambodia Aditya Birla Capital Limited • Financial Inclusion Initiative of the Year - India • Marketing & Brand Initiative of the Year - India Aditya Birla Housing Finance Limited • Analytics Initiative of the Year - India • Digital Transformation of the Year - India ASIAN BANKING & FINANCE | Q4 2025 25

EVENT: ASIAN BANKING & FINANCE AWARDS Airstar Bank • Service Innovation of the Year - Hong Kong Alliance Bank Malaysia Berhad • Open Banking Initiative of the Year - Malaysia • SME Financial Inclusion Initiative of the Year - Malaysia

BDO Unibank Inc. • Retirement Solutions of the Year - Philippines • Investment Product Innovation of the Year - Philippines BTN Prospera • Millennial Product Initiative of the Year - Indonesia

Allied Bank Limited • External Environmental Initiative of the Year - Pakistan

Cambodian Public Bank PLC • SME Bank of the Year - Cambodia

Alrajhi Bank • Domestic Retail Bank of the Year - Saudi Arabia

Cathay Financial Holdings Co., Ltd. • Analytics Initiative of the Year - Taiwan

Asialink Finance Corporation • Finance Company of the Year - Philippines • SME Financial Inclusion Initiative of the Year - Philippines

Cathay United Bank • Customer Experience Initiative of the Year - Taiwan • Debit Card Initiative of the Year - Taiwan • Investment Product Innovation of the Year - Taiwan

Bahrain Development Bank • SME Bank of the Year - Bahrain • SME Digital Innovation of the Year - Bahrain

Cebuana Lhuillier Rural Bank Inc. • Rural/Cooperative Bank of the Year - Philippines

Bahrain Islamic Bank • Credit Card Initiative of the Year - Bahrain • Marketing & Brand Initiative of the Year - Bahrain

China Banking Corporation • Banking for Women Initiative of the Year - Philippines • Service Innovation of the Year - Philippines

Baiduri Bank • Domestic Retail Bank of the Year - Brunei

CIMB • Call Centre Initiative of the Year - Malaysia • Domestic Retail Bank of the Year - Malaysia • Wealth Management Platform of the Year - Malaysia

Bank Danamon Indonesia • Debit Card Initiative of the Year - Indonesia Bank for Investment and Development of Vietnam • SME Bank of the Year - Vietnam Bank Islam Malaysia Berhad • Islamic Retail Bank of the Year - Malaysia • Islamic Wealth Management Platform of the Year - Malaysia Bank of Ayudhya PCL. • Marketing & Brand Initiative of the Year - Thailand Bank of China (Hong Kong) Limited • SME Community Support of the Year - Hong Kong Bank of Singapore • Risk Management Initiative of the Year - Singapore Bank of the Philippine Islands • Customer Experience Initiative of the Year - Philippines • New Consumer Lending Product of the Year - Philippines • ESG Program of the Year - Philippines • Open Banking Initiative of the Year - Philippines • Sustainability Initiative of the Year - Philippines Bank Simpanan Nasional • Financial Inclusion Initiative of the Year - Malaysia Bank SinoPac • Mobile Banking & Payment Initiative of the Year - Taiwan • Branch Innovation of the Year - Taiwan • AI & Machine Learning Initiative of the Year - Taiwan Bank Syariah Indonesia • Service Innovation of the Year - Indonesia BPI Direct BanKo, Inc. • SME Community Support of the Year - Philippines BDO Foundation • Financial Inclusion Initiative of the Year - Philippines 26 ASIAN BANKING & FINANCE | Q4 2025

CIMB Bank Berhad • SME Digital Innovation of the Year - Malaysia CIMB Bank Philippines • Strategic Partnership of the Year - Philippines CIMB Singapore • Strategic Partnership of the Year - Singapore Citizen Development Business Finance PLC • AI & Machine Learning Initiative of the Year - Sri Lanka • Automobile Lending Initiative of the Year - Sri Lanka Commercial Bank of Ceylon PLC • Private Bank of the Year - Sri Lanka • SME Bank of the Year - Sri Lanka CTBC Bank • Domestic Retail Bank of the Year - Taiwan • Fraud Initiative of the Year - Taiwan • Private Bank of the Year - Taiwan DBS Bank (Hong Kong) Limited • Customer Experience Initiative of the Year - Hong Kong • Digital Consumer Banking Initiative of the Year - Hong Kong DBS Indonesia • Gen Z Product of the Year - Indonesia • Private Wealth Bank of the Year - Indonesia DNSE Securities • Investment Product Innovation of the Year - Vietnam • Online Securities Platform of the Year - Vietnam E.SUN Bank • Digital Wallet Initiative of the Year - Taiwan • East West Banking Corporation • Analytics Initiative of the Year - Philippines • Mid-sized Retail Bank of the Year - Philippines

25 Emirates NBD • Credit Card Initiative of the Year - UAE • Digital Wallet Initiative of the Year - UAE

HSBC Philippines • International Retail Bank of the Year - Philippines • Employer Award of the Year - Philippines

F88 • External Social Initiative of the Year - Vietnam • Sustainability Initiative of the Year - Vietnam

HSBC Taiwan • Credit Card Initiative of the Year - Taiwan • International Retail Bank of the Year - Taiwan • Structured Products Platform of the Year - Taiwan

Far Eastern International Bank • ESG Program of the Year - Taiwan ForteBank • Domestic Retail Bank of the Year - Kazakhstan • SME Bank of the Year - Kazakhstan

IDFC FIRST Bank Limited • Mobile Banking & Payment Initiative of the Year - India InCred Financial Services Limited • Finance Company of the Year - India

Gulf Bank • Sustainability Initiative of the Year - Kuwait

Indovina Bank Ltd. • SME Community Support of the Year - Vietnam • Strategic Partnership of the Year - Vietnam

GX Bank Berhad • Virtual Bank of the Year - Malaysia • AI & Machine Learning Initiative of the Year - Malaysia

Ipoteka Bank OTP Group • ESG Program of the Year - Uzbekistan

Hang Seng Bank • Domestic Retail Bank of the Year - Hong Kong • Financial Inclusion Initiative of the Year - Hong Kong • AI & Machine Learning Initiative of the Year - Hong Kong • Analytics Initiative of the Year - Hong Kong HNB Finance • Marketing & Brand Initiative of the Year - Sri Lanka Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) • Marketing & Brand Initiative of the Year - Vietnam • Mid-Sized Domestic Retail Bank of the Year - Vietnam Home Credit Vietnam Finance Company Limited • Customer Experience Initiative of the Year - Vietnam • Finance Company of the Year - Vietnam Hong Leong Bank Berhad • Digital Transformation of the Year - Malaysia • SME Bank of the Year - Malaysia Hong Leong Finance • ASEAN Finance Company of the Year HSBC • Credit Card Initiative of the Year - Hong Kong • Marketing & Brand Initiative of the Year - Hong Kong • Wealth Management Platform of the Year - Hong Kong HSBC Bank (China) Company Limited • International Retail Bank of the Year - Mainland China • Wealth Management Platform of the Year - Mainland China HSBC Bank (Singapore) Limited • Investment Product Innovation of the Year - Singapore • Mobile Banking & Payment Initiative of the Year - Singapore HSBC Bank (Vietnam) Ltd • International Retail Bank of the Year - Vietnam HSBC India • Data Governance Initiative of the Year - India HSBC Malaysia • Customer Experience Initiative of the Year - Malaysia

Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB) • Risk Management Initiative of the Year - Vietnam JSCB Uzbek Industrial and Construction Bank • Domestic Retail Bank of the Year - Uzbekistan • Digital Transformation of the Year - Uzbekistan • Risk Management Initiative of the Year - Uzbekistan Kasikornbank Public Company Limited • Mortgage and Home Loan Product of the Year - Thailand Land Bank of the Philippines • Domestic Retail Bank of the Year - Philippines Malayan Banking Berhad (Maybank) • Mobile Banking & Payment Initiative of the Year - Malaysia MariBank Singapore Private Limited • SME Financial Inclusion Initiative of the Year - Singapore Mashreq • Digital Transformation of the Year - UAE • New Consumer Lending Product of the Year - UAE • Open Banking Initiative of the Year - UAE • Customer Experience Initiative of the Year - UAE Mashreq Bank • Insurance Product Innovation of the Year - UAE Mashreq Bank P.S.C. • SME Bank of the Year - UAE • SME Digital Innovation of the Year - UAE Mashreq Private Banking • Private Bank of the Year - UAE • Wealth Management Platform of the Year - UAE Maya • Virtual Bank of the Year - Philippines Maybank • Digital Consumer Banking Initiative of the Year - Malaysia • Private Bank of the Year - Malaysia Maybank (Cambodia) Plc. • Financial Inclusion Initiative of the Year - Cambodia • International Retail Bank of the Year - Cambodia ASIAN BANKING & FINANCE | Q4 2025 27

EVENT: ASIAN BANKING & FINANCE AWARDS Maybank Investment Bank Berhad • Investment Product Innovation of the Year - Malaysia • Online Securities Platform of the Year - Malaysia Maybank Philippines, Inc. • Digital Consumer Banking Initiative of the Year - Philippines Maybank Singapore • Islamic Banking Initiative of the Year - Singapore • Priority Banking Initiative of the Year - Singapore MB Bank (Cambodia) PLC • Mid-sized Retail Bank of the Year - Cambodia Mox Bank • Digital Bank of the Year - Hong Kong Myanmar Citizens Bank • Credit Card Initiative of the Year - Myanmar • Risk Management Initiative of the Year - Myanmar Nam A Commercial Joint Stock Bank ( NAM A BANK ) • Credit Card Initiative of the Year - Vietnam • Mobile Banking & Payment Initiative of the Year - Vietnam National Bank of Ras Al-Khaimah • Analytics Initiative of the Year - UAE National Development Bank PLC • Domestic Retail Bank of the Year - Sri Lanka • Islamic Banking Initiative of the Year - Sri Lanka National Finance Co. • Finance Company of the Year - Oman Nepal SBI Bank Limited • Digital Business Banking Initiative of the Year - Nepal • SME Bank of the Year - Nepal OCBC • ASEAN SME Bank of the Year • SME Bank of the Year - Hong Kong OCBC Bank (Malaysia) Berhad • Branch Innovation of the Year - Malaysia • Private Wealth Bank of the Year - Malaysia PT Bank OCBC NISP Tbk • SME Bank of the Year - Indonesia

PrimeCredit Limited • Finance Company of the Year - Hong Kong Prince Bank PLC • Internal Governance Initiative of the Year - Cambodia PT Bank Central Asia Tbk (BCA) • External Social Initiative of the Year - Indonesia PT Bank HSBC Indonesia • International Retail Bank of the Year - Indonesia • Priority Banking Initiative of the Year - Indonesia • Core Banking System Initiative of the Year - Indonesia PT Bank Mandiri (Persero) Tbk • AI & Machine Learning Initiative of the Year - Indonesia • Digital Transformation of the Year - Indonesia • Private Bank of the Year - Indonesia PT Bank Maybank Indonesia Tbk • Sustainability Initiative of the Year - Indonesia • SME Digital Innovation of the Year - Indonesia • Islamic Banking Initiative of the Year - Indonesia • Wealth Management Platform of the Year - Indonesia PT Bank Permata Tbk • Domestic Retail Bank of the Year - Indonesia • Mobile Banking & Payment Initiative of the Year - Indonesia PT Bank Rakyat Indonesia (Persero) Tbk • Financial Inclusion Initiative of the Year- Indonesia PT Bank Seabank Indonesia • Virtual Bank of the Year - Indonesia • Ecosystem Initiative of the Year - Indonesia PT Bank SMBC Indonesia Tbk • Digital Business Banking Initiative of the Year - Indonesia PT Jalin Pembayaran Nusantara • Payment Infrastructure Platform of the Year - Indonesia PT Maybank Sekuritas Indonesia • Investment Product Innovation of the Year - Indonesia PT. Bank Tabungan Negara (Persero) Tbk. • Branch Innovation of the Year - Indonesia

OCBC Securities • Online Securities Platform of the Year - Singapore

Public Bank Berhad • Automobile Lending Initiative of the Year - Malaysia • Sustainability Initiative of the Year - Malaysia

OCBC Securities APAC • Asset Management Platform of the Year - Singapore

Public Islamic Bank Berhad • Islamic Banking Initiative of the Year - Malaysia

OCBC Singapore • Cross-Border Payments Initiative of the Year - Singapore • Sustainability Initiative of the Year - Singapore

Qatar Islamic Bank (QIB) • Domestic Retail Bank of the Year - Qatar • Financial Inclusion Initiative of the Year - Qatar

ORIX METRO Leasing and Finance Corporation • Automobile Lending Initiative of the Year - Philippines

RAKBANK • Call Centre Initiative of the Year - UAE • Compliance Initiative of the Year - UAE • Service Innovation of the Year - UAE

Palawan Group of Companies • Digital Transformation of the Year - Philippines Perbadanan TAIB • Digital Transformation of the Year - Brunei • Islamic Banking Initiative of the Year - Brunei

RHB Bank Berhad • Debit Card Initiative of the Year - Malaysia • ESG Program of the Year - Malaysia • Internal Environmental Initiative of the Year - Malaysia

PLUS by BTN Prioritas • Customer Experience Initiative of the Year - Indonesia

RHB Banking Group • Risk Management Initiative of the Year - Malaysia

28 ASIAN BANKING & FINANCE | Q4 2025

25 RHB Singapore • Mid-sized Retail Bank of the Year - Singapore

Standard Chartered Bank Brunei • International Retail Bank of the Year - Brunei

Rizal Commercial Banking Corporation • New SME Lending Product of the Year - Philippines • Online Foreign Exchange Platform of the Year - Philippines • Remittance Company of the Year - Philippines • SME FX Financial Inclusion Initiative of the Year - Philippines • Agent Banking Initiative of the Year - Philippines • Gen Z Product of the Year - Philippines

Standard Chartered Bank Malaysia Berhad • Priority Banking Initiative of the Year - Malaysia

Sacombank • SME Payment Solutions of the Year - Vietnam

Taiwan Business Bank (TBB) • Financial Inclusion Initiative of the Year - Taiwan • Digital Transformation of the Year - Taiwan

Saigon-Hanoi Commercial Joint Stock Bank • Health and Wellness Initiative of the Year - Vietnam • Internal Social Initiative of the Year - Vietnam

TerraPay • Digital Wallet Initiative of the Year - Singapore

Saudi National Bank • Credit Card Initiative of the Year - Saudi Arabia • Customer Experience Initiative of the Year - Saudi Arabia SB Finance, Inc. • Marketing & Brand Initiative of the Year - Philippines Security Bank Corporation • Mobile Banking & Payment Initiative of the Year - Philippines • Consumer Finance Product of the Year - Philippines • Credit Card Initiative of the Year - Philippines • SME Bank of the Year - Philippines • External Environmental Initiative of the Year - Philippines Seylan Bank PLC • Call Centre Initiative of the Year - Sri Lanka • Customer Experience Initiative of the Year - Sri Lanka Shanghai Commercial Bank • Digital Transformation of the Year - Hong Kong • SME Digital Innovation of the Year - Hong Kong Siam Commercial Bank • AI & Machine Learning Initiative of the Year - Thailand • Domestic Retail Bank of the Year - Thailand Siam Digital Lending Company • Start-up Banking Initiative of the Year - Thailand Skiply - RAK Bank • Mobile Banking & Payment Initiative of the Year - UAE Standard Chartered Bank • AI & Machine Learning Initiative of the Year - Singapore • International Retail Bank of the Year - Singapore • Marketing & Brand Initiative of the Year - Singapore • Wealth Management Platform of the Year - Bahrain • Investment Product Innovation of the Year - India • Wealth Management Platform of the Year - India Standard Chartered Bank (Hong Kong) Limited • International Retail Bank of the Year - Hong Kong • Employer of the Year - Hong Kong • ESG Program of the Year - Hong Kong Standard Chartered Bank (Taiwan) Limited • Internal Social Initiative of the Year - Taiwan • Wealth Management Platform of the Year - Taiwan • Digital Consumer Banking Initiative of the Year - Taiwan

Taishin International Bank • New Consumer Lending Product of the Year - Taiwan • Service Innovation of the Year - Taiwan • Strategic Partnership of the Year - Taiwan

The Bank of East Asia, Limited • Branch Innovation of the Year - Hong Kong • Priority Banking Initiative of the Year - Hong Kong The Bank of Punjab • SME Bank of the Year - Pakistan Thunes • Payment Infrastructure Platform of the Year - Singapore Trust Bank Singapore • Virtual Bank of the Year - Singapore • Digital Consumer Banking Initiative of the Year- Singapore UAB Bank Limited • Mid-sized Domestic Retail Bank of the Year - Myanmar • Sustainability Initiative of the Year - Myanmar United Bank Limited (UBL) • Customer Experience Initiative of the Year - Pakistan • Digital Transformation of the Year - Pakistan United Overseas Bank (Malaysia) Bhd • Digital Business Banking Initiative of the Year - Malaysia • International Retail Bank of the Year - Malaysia United Overseas Bank Limited • Branch Innovation of the Year - Singapore • Digital Transformation of the Year - Singapore • Domestic Retail Bank of the Year - Singapore • Customer Experience Initiative of the Year - Singapore • Health and Wellness Initiative of the Year - Singapore • Fraud Initiative of the Year - Singapore • Credit Card Initiative of the Year - Singapore UOB Indonesia • Digital Consumer Banking Initiative of the Year - Indonesia • Marketing & Brand Initiative of the Year - Indonesia UOB Thailand • Branch Innovation of the Year - Thailand • Employer Award of the Year - Thailand • International Retail Bank of the Year - Thailand Vattanac Bank • Call Centre Initiative of the Year - Cambodia • Digital Consumer Banking Initiative of the Year - Cambodia Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) • Banking for Women Initiative of the Year - Vietnam • Priority Banking Initiative of the Year - Vietnam ASIAN BANKING & FINANCE | Q4 2025 29

EVENT: ASIAN BANKING & FINANCE AWARDS Vietnam Technological and Commercial Joint Stock Bank (Techcombank) • Domestic Retail Bank of the Year - Vietnam • Digital Business Banking Initiative of the Year - Vietnam • SME Digital Innovation of the Year - Vietnam

Alliance Bank Malaysia Berhad

Whalet • SME Payment Solutions of the Year - Singapore

Asialink Finance Corporation

Bank of the Philippine Islands and BPI Direct BanKo Inc.

BDO Foundation and BDO Unibank Inc.

Viettel Money • AI & Machine Learning Initiative of the Year - Vietnam • Financial Inclusion Initiative of the Year - Vietnam

Baiduri Bank

Bank Simpanan Nasional

BTN Prospera, PLUS by BTN Prioritas, and PT. Bank Tabungan Negara (Persero) Tbk.

Bank SinoPac

Cathay Financial Holdings

Cathay United Bank

Cebuana Lhuillier Rural Bank Inc.

China Banking Corporation

CIMB

Commercial Bank of Ceylon PLC

DBS Indonesia

E.SUN Bank

East West Banking Corporation

30 ASIAN BANKING & FINANCE | Q4 2025

25

Far Eastern International Bank

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)

GX Bank Berhad

Home Credit Vietnam Finance Company Limited

HSBC Bank (China) Company Limited and HSBC Malaysia

Kasikornbank Public Company Limited

Mashreq

Hang Seng Bank

Hong Leong Bank Berhad

HSBC Taiwan

Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB)

HSBC Bank (Singapore) Limited

Malayan Banking Berhad (Maybank)

Maybank Singapore

MariBank Singapore Private Limited

Mashreq Private Banking

Maybank ASIAN BANKING & FINANCE | Q4 2025 31

EVENT: ASIAN BANKING & FINANCE AWARDS

MB Bank (Cambodia) PLC

OCBC and OCBC NISP

Perbadanan TAIB

Nam A Commercial Joint Stock Bank (NAM A BANK)

OCBC Securities

PT Bank Central Asia Tbk (BCA)

PT Bank Mandiri (Persero) Tbk

PT Bank Maybank Indonesia Tbk

RHB Singapore

SB Finance, Inc.

32 ASIAN BANKING & FINANCE | Q4 2025

OCBC Bank (Malaysia) Berhad

OCBC Singapore

PT Bank HSBC Indonesia

PT Bank Seabank Indonesia

Security Bank Corporation

25

Shanghai Commercial Bank

Taishin International Bank

Standard Chartered Bank

Standard Chartered Bank (Hong Kong) Limited

The Bank of Punjab

Trust Bank Singapore

Vietnam Technological and Commercial Joint Stock Bank (Techcombank)

United Overseas Bank Limited

Axis Bank Ltd.

BDO Unibank, Inc.

Standard Chartered Bank

Bank of China (Hong Kong) Limited

Cathay United Bank

Bank of Communications (Hong Kong) Ltd

CIMB Singapore

Bank SinoPac

Commercial Bank of Ceylon PLC ASIAN BANKING & FINANCE | Q4 2025 33

EVENT: ASIAN BANKING & FINANCE AWARDS

DBS Bank Ltd

East West Banking Corporation

Faysal Bank Limited

Industrial and Commercial Bank of China (Asia) Limited

OCBC Bank (Malaysia) Berhad

Hong Leong Bank

ING

PT Bank Mandiri (Persero) Tbk

Security Bank Corporation 34 ASIAN BANKING & FINANCE | Q4 2025

The Bank of Punjab

Far Eastern International Bank

HSBC Bangladesh

Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB)

IDFC FIRST Bank Limited

OCBC

PT Bank Rakyat Indonesia

United Overseas Bank Limited

UOB Ltd

RHB Bank Berhad

25

Bank SinoPac

East West Banking Corporation

BDO Capital & Investment Corporation

Faysal Bank Limited

China Bank Capital Corporation

HL Bank

Indonesia Infrastructure Finance

National Bank of Pakistan

NewParadigm Securities

OCBC Bank (Malaysia)

OCBC Bank (Malaysia) Berhad

PT Bank CIMB Niaga Tbk

Security Bank Capital Investment Corporation

Taipei Fubon Commercial Bank Co., Ltd.

Commercial Bank of Ceylon PLC

HSBC

OCBC

RHB Bank Berhad

United Overseas Bank (Thai) Public Company Limited, United Overseas Bank (Vietnam) Limited, United Overseas Bank Limited, United Overseas Bank Limited (Hong Kong), and United Overseas Bank (China) Limited ASIAN BANKING & FINANCE | Q4 2025 35

DEBT DEAL OF THE YEAR - CHINA SYNDICATED LOAN OF THE YEAR - THAILAND DEBT DEAL OF THE YEAR - VIETNAM MERGERS AND ACQUISITIONS DEAL OF THE YEAR - SINGAPORE SUSTAINABILITY-LINKED BOND OF THE YEAR - SINGAPORE SOCIAL BOND OF THE YEAR - HONG KONG CORPORATE & INVESTMENT BANK OF THE YEAR - SINGAPORE

UOB clinches accolades at Asian Banking & Finance Corporate & Investment Banking Awards 2025 The bank bagged seven wins at the prestigious awards.

U

OB was recognised at the Asian Banking & Finance Corporate & Investment Banking Awards 2025 for its role in several significant transactions across the ASEAN region. The awards programme acknowledges banks and financial institutions in Asia that exemplify outstanding performance, innovation, and excellence in the corporate and investment banking industry.

“These wins reflect our commitment to deliver well-structured and client-focused solutions, supported by regional expertise and lasting partnerships across ASEAN,” said Mr Edmund Leong, Group Corporate Banking and Group Investment Banking, UOB. Strengthening market leadership UOB was named Corporate & Investment Bank of the Year - Singapore for the second consecutive year. The bank’s multi-product approach enables it to deliver tailored financing and advisory solutions across debt and equity capital markets, corporate finance, infrastructure and project finance, and syndicated financing.

According to Bloomberg data, UOB led the market with the highest number of sole loan mandates and Mandated Lead Arranger and Bookrunner (MLAB) roles in Singapore in 2024. Even in multi-MLAB transactions, UOB was consistently selected as the coordinator.

The bank also topped the Singapore dollar bond market, managing the majority of the largest transactions and ranking as the leading bookrunner. In the equities space, UOB led several public market deals, placing it at the top of the Singapore Equity & Rights Offering League Table.

Supporting ASEAN landmark transactions UOB’s role in a major syndicated term loan facility – which supported a merger and subsequent tender offers – earned the bank the Syndicated Loan of the Year - Thailand award. The transaction involved phased voluntary tender offers, structured to ensure balanced governance and sponsor alignment.

UOB’s ability to secure the mandate, amidst competitive conditions, highlights its expertise in structuring event-driven financing and navigating regulatory complexity.

In Vietnam, UOB was recognised for its role in the country’s first syndicated holding company financing, winning Debt Deal of the Year - Vietnam. The transaction attracted commitments from lenders across multiple

36 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

UOB at the Asian Banking & Finance Corporate & Investment Banking Awards 2025

regions, demonstrating UOB’s syndication strength as well as its ability to mobilise capital across borders.

UOB also earned the Debt Deal of the Year - China award for its role in a syndicated loan facility that was oversubscribed and included participation from multiple banks, including new relationships for the borrower.

These wins reflect our commitment to deliver wellstructured and client-focused solutions, supported by regional expertise and lasting partnerships across ASEAN Advancing sustainable and inclusive finance UOB’s commitment to sustainability was recognised with the Sustainability-linked Bond of the Year - Singapore award. The bank acted as joint global coordinator and bookrunner for a subordinated sustainabilitylinked perpetual security offering that marked several industry firsts, including the first Singapore dollar-denominated SustainabilityLinked Perpetual (SLP) and the first public benchmark SLP in Asia.

Strong investor interest led to a peak orderbook well above expectations, with final pricing tightened from initial guidance.

In Hong Kong, UOB was awarded Social Bond of the Year - Hong Kong for its role in a multi-currency social note issuance – the largest of its kind in Asia Pacific. Proceeds from the issuance will finance SME loans under a government-backed loan guarantee

scheme, supporting tens of thousands of businesses and employees.

Leading in strategic advisory UOB’s advisory and financing role in a takeprivate transaction for a listed company earned the bank the M&A Deal of the Year Singapore award.

As the sole financial adviser and sole acquisition finance provider, UOB led the largest privatisation by market capitalisation for a Singapore Exchange-listed company in 2024. The deal closed successfully, resulting in the company’s delisting.

Purpose-led growth UOB’s investment banking success is guided by a clear vision to build the future of ASEAN by supporting the people and businesses within the region and those connected to it.

This purpose is anchored by four priorities: delivering personalised financial solutions, enabling sustainable growth, deepening regional connectivity, and fostering a culture of care and trust. These principles shape how UOB partners with clients, combining sector expertise, digital innovation, and long-term relationships to help them thrive in a dynamic and interconnected region.

These wins at the Asian Banking & Finance Corporate & Investment Banking Awards 2025 reflect UOB’s strength in delivering impactful solutions across ASEAN. As the One Bank for ASEAN, UOB complements this strength with the region’s most extensive trade network, enabling seamless cross-border growth and connectivity for clients across the region.

ASIAN BANKING & FINANCE | Q4 2025 37

SYNDICATED LOAN OF THE YEAR - PAKISTAN

National Bank of Pakistan powers a landmark restructuring syndication This recognition affirms NBP’s market leadership and its pivotal role in delivering innovative, high-impact financial solutions that strengthen Pakistan’s economic foundation. manageable over time. Reprofiling paved the way for revitalising the company, reducing the financial burden on the government and stabilising the country’s banking sector.

Without the need for disruptive government bailouts, this structured approach gave the enterprise breathing room to modernise operations, improve service quality, stabilise finances and is now on the path to becoming a viable business – one that’s attracting strategic investor interest, paving the way for potential privatisation.

Rehmat Ali Hasnie, NBP President

T

he National Bank of Pakistan (NBP) has reinforced its position as a cornerstone of Pakistan’s economy by winning Asian Banking & Finance Corporate & Investment Banking Award 2025.

The award is a recognition of NBP’s role in delivering one of the most significant and complex foreign loan restructuring transactions in Pakistan’s recent history.

“This award reflects the dedication of our teams and our ability to address complex financial challenges with innovative and impactful solutions. Our goal is always to deliver value that extends beyond the client, benefiting the entire economy,” said Rehmat Ali Hasnie, NBP President.

Promoting financial stability through strategic restructuring The award-winning transaction involved structuring a multi-hundred-billion-rupee debt reprofiling for a strategically vital national enterprise.

With payback commitments that severely strained operations and cash flow, the client was facing a mounting debt burden in both local and international currencies.

NBP led the advisory and execution process of foreign loan syndication in close coordination with government authorities, regulators, and a consortium of financial institutions. This transformative restructuring involved renegotiating the terms of outstanding loans to make the debt more 38 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Impact beyond the transaction The restructuring generated significant economic benefits, well beyond the client’s expectations. It strengthened public finances by reducing the likelihood of emergency fiscal interventions; therefore, freeing up resources for other critical development priorities. It also safeguarded the banking sector's stability by preserving asset quality and preventing the need for aggressive provisioning, which could have impacted profitability across multiple institutions.

Additionally, the transaction protected thousands of jobs and ensured operational continuity in a sector critical to the national economy. It also restored investor confidence, paving the way for potential future investment and partnerships.

This transaction was about more than solving a balance sheet challenge, it was about protecting economic stability and setting the stage for sustainable growth Market leadership and scale NBP plays a pivotal role in Pakistan’s financial system as a Domestic Systemically Important Bank (D-SIB), With a market capitalisation of US$1.05b as of August 2025, the bank ranks amongst the world’s leading publicly traded financial institutions.

Serving over 9 million customers, NBP’s Network consists of 1,503 domestic branches,16 Overseas branches, and extensive correspondent banking partnerships globally.

In 2024, the bank reported PKR236.3b in

revenue and PKR56.7b in profit before tax, with a total asset base of PKR6.7t, showing a strong foothold within the banking landscape of Pakistan.

A benchmark for corporate & investment banking excellence Talking about their win, Head of Corporate and Investment Banking Group, Syed Farooq Hassan said, “The Asian Banking & Finance Corporate & Investment Banking Award is a testament to NBP's broader capabilities in designing extensive, high-impact financial solutions, not merely a celebration of a single transaction. NBP continues to be the industry leader in corporate and investment banking in Pakistan, offering services ranging from strategic finance arrangements to advice on intricate restructurings.”

“The bank is positioned as a reliable partner for clients in the public and private sectors due to its capacity to gather resources, foster consensus amongst stakeholders, and provide creative solutions.”

Looking ahead NBP is committed to deepening its role as a strategic advisor and financial partner in order to build on this accomplishment.

Through its investments in digital platforms, risk management frameworks, and sustainable finance, NBP plans on enhancing its capacity to deliver faster, smarter, and more inclusive solutions.

“We see every transaction as an opportunity to strengthen Pakistan’s economic foundation,” said Rehmat Ali Hasnie. “Our focus remains on creating long-term value for our clients, shareholders, and the country.”

Our heritage NBP's standing as a prominent player in Pakistan's financial sector is strengthened by the Asian Banking & Finance Corporate & Investment Banking Award 2025. Through the effective implementation of a historic reorganisation that affected the entire country's economy, the bank has shown that strategic corporate banking can be a potent force for stability and expansion.

With systemic significance and a history of completing game-changing deals, NBP is positioned as a pivotal force in determining Pakistan's financial future.

Banking solutions that grow with your business locally and across borders From industry focused support to Johor-Singapore Special Economic Zone (JS-SEZ) opportunities, HL Bank helps businesses move faster with practical products, expert advice and regional reach.

Corporate Client Initiative of the Year - Singapore HL Bank

Growth Strategy of the Year - Singapore Bank CORPORATEHLINVESTMENT

&

BANKING AWARDS 2025

CORPORATE & INVESTMENT

BANKING AWARDS 2025 ASIAN BANKING & FINANCE | Q4 2025 39

GREEN DEAL OF THE YEAR - HONG KONG INNOVATIVE DEAL OF THE YEAR - HONG KONG

CNCBI accelerates sustainable finance and cross-border growth As it strengthens ties within the CITIC ecosystem, the bank is poised to seize new opportunities across the Greater Bay Area and global markets.

C

hina CITIC Bank International Limited (CNCBI) is a Hong Kong-based fullservice commercial bank which offers a broad spectrum of financial services spanning wealth management, personal banking, wholesale banking, as well as global markets and treasury solutions. The bank’s business footprint in Greater China includes 21 branches and 2 business banking centres in Hong Kong, as well as presence in Beijing, Shanghai, Shenzhen, and Macau. CNCBI also has overseas branches in New York, Los Angeles and Singapore.

Leadership in sustainable finance CNCBI’s sustainable finance landscape has reached an ever-high, especially being reflected in the rapid expansion of green and sustainable-related loans. A dedicated Green and Sustainable Financing Team is established in the Structured Finance Department to provide customised and onestop sustainable financing solutions across various sectors. Whilst actively issuing green loans and sustainable loans to key players in greensectors such as new energy and other related industries to support their business development, CNCBI also puts high focus on the low-carbon transition demand of traditional industries. Through structuring transition products such as sustainabilitylinked loan, the bank assists enterprises in need to set ambitious and feasible sustainable performance targets and develop their customised carbon reduction roadmap. Being recognised for outstanding performance and professional dedication in green and sustainable finance, CNCBI has consecutively received prestigious awards from widely recognised institutions in the sustainable finance market since 2021.

core business platform, which will be fully integrated into the CITIC ecosystem in order to actively expand new markets, increase the profitability of core businesses and develop new products.

Unlocking new growth Looking ahead, CNCBI will actively pursue new business opportunities emanating from the Guangdong-Hong Kong-Macao Greater Bay Area, the RMB internationalisation strategy, and ESG development. To provide customers with global and integrated services and to enhance cross-border comprehensive financial service capabilities, comprehensive collaboration with the CITIC Group and CNCB will continue to be strengthened, with an emphasis on the role of the offshore

Recognition of excellence CNCBI was amongst the winners in the Asian Banking & Finance Corporate & Investment Banking Awards 2025. The prestigious awards programme honours outstanding performance, innovation, and excellence in the corporate and investment banking industry in Asia. The awards recognises banks and financial institutions who have demonstrated exceptional performance and have made significant contributions to the industry.

This year's awards programme was held

40 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

China CITIC Bank International Limited (CNCBI)

The bank assists enterprises in need to set ambitious and feasible sustainable performance targets and develop their customised carbon reduction roadmap on 3 July 2025 in Singapore, alongside the Retail Banking Awards and Wholesale Banking Awards under the Asian Banking & Finance Awards umbrella.

The judging panel consisted of Sumit Narayanan, Managing Partner, Financial Services ASEAN, Ernst & Young; Antony Ruddenklau, Partner and Head of Financial Services, Global Head of Fintech and Innovation, Financial Services, KPMG Singapore & KPMG International; Mansi Singh, Financial Services Strategy and Operations Partner, PwC Southeast Asia Consulting; Alessandro Magarini Montenero, Partner, Financial Services, Bain & Co.; Tushar Agarwal, Managing Director & Partner, Boston Consulting Group; and Silvio Struebi, Partner, Head of Banking APAC, Simon-Kucher.

ASIAN BANKING & FINANCE | Q1 2024 40

ASIAN BANKING & FINANCE | Q4 2025 41

42 ASIAN BANKING & FINANCE | Q4 2025

Pakistan’s Best Islamic Bank

Serving you better with our widest range of Shariah compliant products Growing network of 850+ Islamic Branches in more than 350+ cities across Pakistan

ASIAN BANKING & FINANCE | Q4 2025 43

44 ASIAN BANKING & FINANCE | Q4 2025

ASIAN BANKING & FINANCE | Q4 2025 45

We are redefining banking in India.

Presenting, IDFC FIRST Bank - Customer First banking at its finest.

Built on the pillars of ethical, digital and social-good, IDFC FIRST Bank is proud of its unique Customer First banking services.

Welcome to the bank that always puts you first.

IDFC FIRST Bank

LIMITLESS BANKING FOR YOUR LIMITLESS AMBITIONS

PARTNER WITH A BANK THAT SCALES UP WITH YOUR BUSINESS NEEDS Powering corporations since 1976 | Most user-friendly business banking app Competitive pricing to help enhance working capital | Award-winning digital banking service Terms and conditions apply. The National Bank of Ras Al Khaimah (P.S.C.) is a Licensed Financial Institution regulated by the Central Bank of the United Arab Emirates.

46 ASIAN BANKING & FINANCE | Q4 2025

Access a wide range of deals and experiences in the region Explore over 1,000 deals and experiences on the UOB TMRW app

Malaysia

Copyright © 2025 United Overseas Bank (Malaysia) Bhd. Registration No:199301017069 (271809-K). All Rights Reserved.

ASIAN BANKING & FINANCE | Q4 2025 47

BDO Capital: Celebrating a silver milestone of fostering partnerships Guided by a people-first philosophy, BDO Capital continues to drive meaningful impact through strategic advisory, innovative capital solutions, and sustainable and inclusive growth.

F

or 25 years, BDO Capital & Investment Corporation (BDO Capital) has been a story of people—leaders with big dreams, teams with relentless drive, and communities striving for progress, becoming more than just a financier but a steadfast partner, nurturing the human element that fuels every enterprise and shaping stories of growth, resilience, and shared success.

“Our clients know we’re here for their successes and their challenges,” shared Eduardo V. Francisco, President of BDO Capital. “It’s about walking the journey together, sharing in their endeavours and triumphs.” This commitment to relationships has been the foundation of BDO Capital’s impact. By investing time to understand its clients—their needs, aspirations, and values—BDO Capital has not only strengthened businesses but also touched lives, empowered communities, and contributed to nation-building.

Forging meaningful and impactful relationships BDO Capital believes that, ultimately, at the heart of every business transaction is a human connection.

Whether helping an entrepreneur turn a vision into reality or guiding an industry leader through a major transformation, its

MRT-7 is expected to significantly improve mass transit in the country

48 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

approach is grounded in empathy and trust.

A prime example of this is its decades-long partnership with San Miguel Corporation (SMC). By providing strategic solutions, BDO Capital helped SMC expand into new sectors such as energy, infrastructure, and manufacturing, enabling the company to emerge as one of the Philippines’ largest and most dynamic conglomerates. Likewise, BDO Capital helped the DMCI Group pivot from mining into water, energy, and cement; the Metro Pacific Group expand into toll roads and water through acquisition financing; and the Aboitiz Group in their acquisitions of privatised assets and the Mactan Cebu International Airport (MCIA). BDO still has a long list of clients assisted in their fundraising activities, like the Razon Group, Lucio Tan Group, Filinvest Group, PHINMA Group, Lucio Co Group, Alcantara Group, Udenna Group, and several Japanese and Korean clients (Marubeni, KEPCO, Tokyo Electric, etc.), amongst others, which have relied on BDO Capital’s expertise in successfully raising funds through various innovative capital market instruments.

For BDO Capital, this partnership epitomises its philosophy: success is not just about financial gains but about cultivating relationships that empower clients to dream bigger and achieve more.

The award-winning Mactan Cebu International Airport boasts of world-class amenities to bolster tourism in the Philippines

“What we value most is not just the growth of a business but the trust we build with the people behind it,” Francisco said.

This philosophy also drives BDO Capital’s role in initial public offerings (IPOs) and follow-on offerings (FOOs). Companies like Alliance Global, Vista Land, Monde Nissin, Converge, OceanaGold, MREIT, and CREIT have relied on BDO Capital’s expertise to navigate the complexities of going public.

These IPOs and FOOs mark significant milestones not only for the companies involved but also for their employees, customers, and communities, as these create jobs, foster innovation, and drive economic progress—underscoring the broader societal impact of BDO Capital’s work.

Standing together, especially in tough times It’s in moments of uncertainty that relationships are truly tested. The 2008 global financial crisis and the COVID pandemic have severely affected the market, forcing many to shut down.

BDO Capital stepped up to become a dependable ally. By crafting tailored solutions and implementing operational adjustments, it helped businesses navigate turbulent waters. “In times like those, it wasn’t enough to offer generic advice,” Francisco recalled. “We had to show we were

Alternergy’s Pililla wind farm providing electricity to thousands of Metro Manila households

FINANCIAL INCLUSION INITIATIVE OF THE YEAR - PHILIPPINES RETIREMENT SOLUTIONS OF THE YEAR - PHILIPPINES INVESTMENT PRODUCT INNOVATION OF THE YEAR - PHILIPPINES

Citicore Renewable Energy Corporation pioneered the AgroSolar initiative in the Philippines that enables solar energy generation to co-exist with agriculture

BDO Capital President Ed Francisco (front, rightmost) with Finance Secretary Ralph Recto (back, center) and the Bureau of the Treasury at the Retail Treasury Bonds 30 launch

in it with them, finding creative ways to help them adapt and rebuild.”

This dedication has left a lasting impact.

BDO Capital has built a reputation as a partner that remains present in both good and challenging times, not only to provide financing but also to enable its clients to stay resilient, adapt to shifting circumstances, and emerge stronger than before.

Sustainability-Linked Bonds.

BDO Capital’s commitment to sustainability goes beyond individual clients.

By financing infrastructure projects such as renewable energy facilities and expressways, it contributes to national development whilst promoting environmental stewardship.

BDO Capital’s efforts in sustainability also highlight the interconnected nature of business and society for the benefit of not just shareholders but also employees, customers, and future generations.

Integrating purpose in every business venture As businesses and communities strive for a sustainable future, BDO Capital has taken on a leadership role in promoting responsible growth. Through innovative financing tools such as the award-winning Green IPOs (Alternergy, Citicore), ASEAN SustainabilityLinked Bonds (Ayala Land), Green Bonds (ACEN, ArthaLand), Gender Bonds (ASA), and Blue Bonds (Maynilad), BDO Capital has provided companies with access to capital whilst encouraging them to adopt practices that address pressing environmental and social challenges.

One standout partnership is with the Lopez Group, which transitioned to clean energy through project financing, several of its power-generating assets and helping them acquire PNOC EDC post-privatisation and PSE listing.

Likewise, BDO Capital has also been helping the Ayala Group in their bonds and preferred shares issuances aimed at promoting ESG practices, such as ACEN’s Green Bonds as well as Ayala Land’s

What we value most is not just the growth of a business but the trust we build with the people behind it

Helping uplift lives BDO Capital’s commitment to relationships extends to fostering economic inclusion and nation-building through its involvement in the fund-raising exercises of the Bureau of Treasury, Light Rail Transit Authority, Home Guarantee Corporation, along with other government-owned-and-controlled corporations.

Infrastructure advisory and financing are other avenues where BDO Capital’s impact is evident. Projects like the MCIA, NLEX,

Metro Manila Skyway (MMS) Stage 3 project aims to boost domestic mobility

MCX, TPLEX, and the ongoing rehabilitation of NAIA have transformed regional connectivity, driving economic growth and improving access to goods, services, and opportunities. In addition, BDO Capital also played vital roles by arranging projects and structured financing for Philippine Airlines and Cebu Pacific, and the integrated resort projects of Travellers/Newport, Bloomberry/ Solaire, and Okada Manila.

Other financing transactions managed by BDO Capital include Century Pacific Food’s acquisition of Shakey’s and the Campos Group’s investment in Del Monte. BDO Capital has also been assisting on an armslength basis its parent, SM Group, in raising financing for its various subsidiaries through IPOs and bond issues. “Our work goes beyond the bottom line and isn’t just about individual clients,” Francisco explained. “It’s about creating opportunities for people and building a future we can all be proud of.”

Building a legacy together As BDO Capital marks its 25th anniversary, it remains steadfast in its belief that business is ultimately about people.

By focusing on the human side of business, BDO Capital has helped shape enterprises that not only succeed but also contribute to the well-being of employees, families, and communities.

“We’re not just focused on what’s next for our clients—we’re thinking about what’s next for the people and communities they serve,” Francisco shared.

ASIAN BANKING & FINANCE 2025 49 ASIAN BANKING ASIAN BANKING AND FINANCE AND FINANCE | DECEMBER || Q4 Q3 2021 2020

OPEN BANKING INITIATIVE OF THE YEAR - MALAYSIA

Alliance Bank Visa Virtual Credit Card: Redefining digital banking in Malaysia With a customer-first approach, Alliance Bank Malaysia Berhad strives to expand and improve its digital payment solutions to elevate the user experience of customers.

One of its most distinctive features is the Dynamic Card Number (DCN), a randomly generated 16-digit number that refreshes every 30 minutes.

This innovation significantly reduces the risk of fraud and unauthorised transactions, making it ideal for online shopping, e-wallet reloads, and subscription services. By masking the actual card number, the VCC ensures that sensitive data remains protected, even in the most vulnerable digital environments.

Gan Pai Li, Group Chief Consumer Banking Officer of Alliance Bank

I

Security meets simplicity Security is often seen as a trade-off with convenience, but the Alliance Bank Visa Virtual Credit Card bridges that gap effortlessly. Users can freeze, unfreeze, or delete their virtual card instantly via the allianceonline mobile app. They can also set spending limits, manage recurring payments, and customise the card’s appearance for easy identification within a few taps.

This level of control and customisation empowers users to respond quickly to any suspicious activity, manage their finances proactively, and enjoy peace of mind with every transaction.

n an era where convenience, security, and personalisation define customer expectations, Alliance Bank Malaysia Berhad continues to lead the way with its groundbreaking Visa Virtual Credit Card (VCC)—a product that exemplifies Alliance Bank's commitment to innovation and customer empowerment.

As a three-time winner at the Asian Banking & Finance Awards, Alliance Bank has consistently demonstrated excellence in digital transformation, product innovation, and customer experience.

The Visa Virtual Credit Card delivers seamless and secure transactions tailored for today’s digital-first consumers.

Rewarding every ringgit Alliance Bank understands that value matters.

That’s why the Visa Virtual Credit Card offers one of the most generous rewards programmes on the market: 8x Timeless Bonus Points (TBP) for every RM1 spent on e-commerce and e-wallet reloads (capped at RM3,000 per statement cycle) and 1x TBP for all other transactions, including JomPAY, FPX, and instalment plans.

To reward customers with more value and flexibility when using the VCC, TBP has no expiration date, giving cardholders the freedom to redeem points for gifts, vouchers, and a wide variety of lifestyle experiences whenever they choose.

A new standard in digital payments The first of its kind in the Southeast Asia region, the Alliance Bank Visa Virtual Credit Card is not just a digital version of a physical card—it’s a reimagined payment experience.

Designed to be fully managed through the allianceonline mobile app, the VCC eliminates the need for plastic, offering real-time control and enhanced security features that put users in charge.

No annual fees—ever In a bold move that reflects its customer-first philosophy, Alliance Bank offers the Visa Virtual Credit Card with no annual fees for

50 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

life—for both principal and supplementary cards. The only charge is a standard RM25 Sales Service Tax (SST) per year, making it one of the most cost-effective credit card options in Malaysia.

Seamless integration with DuitNow, Google Pay, and Samsung Pay The Visa Virtual Credit Card is fully compatible with DuitNow QR, Google Pay, and Samsung Pay, enabling contactless payments at thousands of merchants nationwide.

Whether online or in-store, users enjoy a seamless payment experience that’s fast, secure, and widely accepted.

Simple, fast, and inclusive application process for VCC Users interested in applying for the Alliance Bank Visa Virtual Credit Card will be intrigued by the simple and fully digital process. To kickstart the application process, customers only need to download the allianceonline mobile app to verify their MyKad and upload their income documents, and they can enjoy a truly cardless experience once their application has been approved.

Most Malaysians, whether a young professional or a seasoned entrepreneur, will be able to be part of this unique experience, as the eligibility starts at a minimum monthly income of RM2,000. This makes the Visa Virtual Credit Card one of the most accessible credit cards on the market.

A vision for the future The Alliance Bank Visa Virtual Credit Card is more than a product—it’s a reflection of the bank’s vision for the future of banking.

By combining cutting-edge technology with thoughtful design and customer-centric features, Alliance Bank continues to set new benchmarks in the industry.

As digital lifestyles evolve, Alliance Bank remains committed to delivering solutions that are secure, rewarding, and relevant. The Visa Virtual Credit Card is a shining example of this commitment—and a proud addition to the bank’s award-winning portfolio.

The Alliance Bank Visa Virtual Credit Card is not just a digital version of a physical card—it’s a reimagined payment experience

ASIAN BANKING & FINANCE | Q4 2025 51

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) At VPBank, we understand that true priority banking transcends financial boundary. It is defined by the exclusive service quality and the bonded relationship we offer.

Being recognized by Asian Banking & Finance in 2025, our unwavering journey is guided by a steadfast commitment to excellence, discretion, and personalization. We take pride in delivering tailored solutions and refined experiences that align with the unique expectations of elite customers.

Priority Banking Initiative of the Year - Vietnam Vietnam Prosperity Joint Stock Commercial Bank (VPBank)

52 ASIAN BANKING & FINANCE | Q4 2025

1800 545415

diamond.vpbank.com.vn

Women-led businesses have been a strategic customer segment that VPBank has consistently focused on developing over the past decade.

Understanding the unique challenges faced by female entrepreneurs, we have built a comprehensive ecosystem of financial and non-financial solutions, aiming to provide long-term companionship and sustainable support for the growth of women-led enterprises in Vietnam.

ASIAN BANKING & FINANCE | Q4 2025 53

DIGITAL BANK OF THE YEAR - HONG KONG

Five years of banking for the people Marking its fifth anniversary with over 700,000 customers, Mox stands proud of the milestones achieved together with its team and partners, and the growing loyalty of customers.

T

his year, Mox marks its fifth anniversary. transparent banking services Looking back at its journey, as a Hong at a fair price should be a basic Kong digital bank, the bank is proud right. Mox Bank aims to empower of the great strides that have been made, individuals to achieve their aims recognising the effort and energy that have and dreams in life. been required. The support of its whole team Technology will continue to be and ecosystem partners has been vital to integral to the bank’s success and the remarkable milestones that they have be the key enabling factor around achieved together. accessibility. Mox has spent Throughout this period, first and foremost, HK$1b in technology in the last the bank has been providing highly accessible three years and plans to invest banking services to the people of Hong Kong. the same amount again over the Barbaros Uygun, CEO Recently, its customer base has hit over next three years. Its powerful 700,000 customers, with 1 in 4 customers proprietary technology, which aged below 30, representing close to 12% of has also been successfully ported feedback to life, ensuring its services are the city’s bankable population and rising fast and adapted by others such as Trust Bank easy, transparent, and fun. from around 160,000 that Mox is proud to in Singapore, will only continue to improve.

This ongoing, mutually beneficial feedback serve in its first year. Mox held a market share Artificial intelligence (AI) will inevitably loop not only guides the development process of 46% in CASA have an impact, but but also empowers customers by making (Current Account Mox has already them active contributors in shaping the future Savings Account) been deploying the of the bank.

Much has had to come together technology for some deposits amongst “The result is a positive environment that to create this success, from digital banks in time. Its view remains is constantly seeking innovation and trying to Hong Kong as of that although AI will first-rate people to a cuttingsolve problems. There is a restless sense of 2024, making it hold provide efficiencies edge technology platform, but wanting to improve and a single certainty that the largest market in how the bank at the heart is our unwavering we would never rest on our laurels.” share in CASA in its provides banking and

consistency

trade.

This level of trust is invaluable, as Mox continues to serve as much of Hong Kong as possible, building connections and fostering community. A staggering 25% of the bank’s customers have come through referrals – one of the clearest signs that it is doing something right and that Mox is already part of the fabric of the city.

Receiving the award as Digital Bank of the Year - Hong Kong is an even more precious recognition of the progress that it has made.

“Much has had to come together to create this success, from first-rate people to a cutting-edge technology platform, but at the heart is our unwavering consistency. First, in our belief in challenging the norms delivered by incumbent banking, and secondly in championing the business model of customercentricity,” Mox stated.

Technology strengthens Mox Bank's challenger mindset Five years is not long, given the amount that Mox wants to achieve, especially given the challenger mindset that binds it all together.

The gap in the market still remains in terms of accessibility of services that the bank wants to fill. Access to a full range of 54 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

fuels progress, AI will not define it going forward. Combining the human touch with emerging technology will be vital for success.

Built on customer-centricity and design-thinking Customer-centricity has been central to Mox’s success. This simple but important belief is that the bank should base its business model on serving the customers of Hong Kong. The bank works by listening to customers and co-creating products based on their feedback.

Several recent examples include the launch of its first insurance offering and the milestone of over 1.3 billion Asia Miles distributed through its programmes.

Mox surveys the Mox Community to provide valuable points of reference.

Then the application of design-thinking from the Mox team Mox Bank brings this first-hand

Here is to the next five years Mox’s innovative technology and dedication to empowering the underserved and underbanked population have driven it to where it is today, and there is great satisfaction in the trust that it has built with customers as well as the wider market. Mox added, “The company is now looking forward to the next five years, with the product launches, innovations, and partnerships that are in the pipeline. But what will this ultimately look like for Mox? That will depend, first and foremost, as it always has, on our customers.”

ASIAN BANKING & FINANCE | Q4 2025 55

INTERNATIONAL RETAIL BANK OF THE YEAR - MAINLAND CHINA WEALTH MANAGEMENT PLATFORM OF THE YEAR - MAINLAND CHINA

HSBC to redefine wealth management for globally-minded investors

Through enhanced partnerships, innovative wealth centres, and tailored propositions for entrepreneurs, HSBC China is tapping into growth of China wealth market.

China, accelerating the growth of its wealth management business. The bank aims to open more wealth centres in additional cities in 2025.

These trend-setting centres incorporate technological and sustainable innovations and feature spaces for art, lifestyle and wealth activities, going beyond the traditional concept of a bank branch.

HSBC Bank (China) Company Limited

H

SBC is deeply committed to strengthening its position as the leading international wealth manager in mainland China, empowering clients on their financial journeys and embracing the rapid expansion of this dynamic wealth market. In 2024, HSBC's wealth management invested assets in mainland China grew by 61% versus 2023, reflecting HSBC’s strategic focus and its competitive edge in the market.

Kai Zhang, Head of International Wealth and Premier Banking for Asia at HSBC, said: “China is the world’s second largest wealth market, and the pace of change is truly remarkable. We're witnessing rapid growth in China’s affluent and high-networth population, with more clients pursuing global ambitions – whether that’s building internationally diversified investment portfolios, funding overseas education, or planning for retirement. Meeting these needs is central to our strategy to become the leading wealth manager in Asia.”

Delivering differentiated wealth offerings HSBC has a comprehensive wealth management platform built around four pillars in Mainland China: Insight, Strategy, Solution, and Access. These pillars are designed to help customers turn wealth plans and ambitions into reality.

To deliver best-in-class solutions, HSBC works with leading local and global product partners in mainland China, while also leveraging its own manufacturing expertise.

Recently, HSBC has expanded a number of these partnerships to further increase customer access to asset classes and international markets. Today, the bank offers 56 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

more than 800 local and global funds across different categories, enabling clients to build globally diversified portfolios.

Serving entrepreneurs with innovative solutions Business and personal wealth are deeply interconnected. When one thrives, so does the other.

This year, HSBC Global Private Banking, in collaboration with HSBC Corporate and Institutional Banking, launched a tailored wealth proposition for entrepreneurs in mainland China.

Meeting these needs is central to our strategy to become the leading wealth manager in Asia This offering is designed to meet the diverse needs of Chinese entrepreneurs with integrated solutions that support business expansion, asset allocation, lifestyle management, next-generation education, and succession planning.

Since expanding its private banking business in mainland China in 2022, HSBC Global Private Banking is now present in six major cities and has achieved several industry firsts, including providing clients with access to hedge funds through trust plans and offering a family trust advisory service.

Introducing brand-new wealth centres Since 2024, HSBC has launched new wealth centres in nine major cities across mainland

Doubling down on international connectivity International connectivity is HSBC’s strength.

HSBC supports the global needs of Chinese families, including overseas education planning. To support this mission, HSBC has hosted the International Education Forum for three consecutive years. In 2024, HSBC launched a new proposition enabling customers with needs in mainland China and Hong Kong to provide more connected services and product access in both markets.

As part of HSBC’s commitment to bringing customers relevant and actionable insights, the bank hosted its third annual China Investor Wealth Summit in 2025 under the theme of “Wealth in the new paradigm: Resilience and Prosperity.” Over 30 globally esteemed guests from business and academia, together with innovators and investors, gathered to explore the future of wealth in an evolving global landscape, with more than 380 clients in attendance.

China’s wealth market has seen increasing demand for global asset diversification, holistic wealth planning, and retirement planning solutions. HSBC is well-positioned to serve the evolving needs of the globallyminded investors, with its full range of wealth offerings, deep investment expertise and international connectivity.

HSBC China flagship branch grand opening

ASIAN BANKING & FINANCE | Q4 2025 57

DIGITAL CONSUMER BANKING INITIATIVE OF THE YEAR - INDONESIA MARKETING & BRAND INITIATIVE OF THE YEAR - INDONESIA

UOB Indonesia accelerates its brand growth through paving the way to building the future of ASEAN Its holistic initiatives encompassed both digital and traditional banking divisions.

UOB Plaza Building in Jakarta

U

OB has strengthened its position as a leading regional bank, with Indonesia offering some of the greatest potential for growth in ASEAN. Following the acquisition of a consumer banking business in late 2023, UOB expanded its customer base, product portfolio, and partner ecosystem, enabling the Bank to deliver even greater value to customers.

With rising affluence and the emergence of a new generation of customers, UOB Indonesia continues to adapt its strategies to evolving needs and preferences. Traditional approaches are no longer sufficient in today’s digital landscape, prompting the Bank to focus on digital channels, personalised experiences, and building lasting trust. Backed by stronger teams, deeper partnerships, and an enhanced suite of solutions, UOB is committed to being the bank of choice for individuals and businesses across ASEAN. Collaborating with world-leading brands In line with its strategic focus on personalisation and innovative banking solutions, UOB Indonesia has partnered with world-renowned brands to deliver exclusive experiences for its customers. A highlight was the collaboration with MINI, featuring a limited-edition car designed by Paul Smith.

The Bank also strengthened its regional brand presence through entertainment partnerships. It was the Official Presale Partner for Taylor Swift’s The Eras Tour in Singapore and the Regional Presenting Sponsor of Ed Sheeran’s +–=÷x Tour across multiple ASEAN markets. Locally, UOB Indonesia brought memorable experiences 58 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

by sponsoring concerts for stars such as Andy Lau, Aaron Kwok, and JJ Lin. To further resonate with the Indonesian market, UOB launched campaigns including Doing Right By You and Make Tomorrow Yours, both of which drove uplifts in brand perception, ad recall, and customer engagement.

A regional partnership with Disney Cruise introduced the Rewards+ campaign, offering over 1,000 deals across ASEAN. Customers could redeem points directly via the UOB TMRW app, which helped boost overseas spending by 20% year-on-year.

Digital banking transformation Launched in August 2020, the UOB TMRW app is a mobile-only digital bank targeting ASEAN’s young professionals and families.

Designed for those aged 25–39, it provides not only banking convenience but also lifestyle integration through personalised insights and omni-channel engagement.

Customers enjoy everyday solutions such as the TMRW Everyday Account, which offers free fund transfers and bill payments, and the TMRW Savings Account, a gamified platform that allows users to build a virtual “City of TMRW” whilst growing their savings at competitive interest rates. The TMRW Credit Card enhances cashless convenience, providing cashback and instalment options.

Recent enhancements in 2024 included redeemable coupons at partner merchants, a Digital Wealth investment account, CashPlus Digital loans, real-time expense tracking, and access to 56 new UOB Plaza in Indonesia billers. Looking ahead to 2025, mutual fund

investment services will allow customers to open accounts, invest, and manage their portfolios entirely within the app.

Security remains a top priority. The Bank has rolled out fraud detection features and offers 24/7 customer interaction through the Tomorrow Intelligent Assistant (TIA), an AI-powered chatbot. QR Payment capability, using Indonesia’s standard QRIS code, further extends cashless convenience without transaction fees.

Solid leadership position in the ASEAN UOB Indonesia’s strategic initiatives have delivered measurable results. An Ipsos survey of 1,856 respondents in the mass affluent and affluent segments reported a 5% increase in brand awareness and consideration from 2023, with brand preference rising by 3%. Customer satisfaction remained consistently high, reflected in a Net Promoter Score above +45 throughout the year.

The Bank’s achievements have also been recognised by the industry. At the Asian Banking & Finance Retail Banking Awards 2025, UOB Indonesia received two prestigious accolades, namely Marketing & Brand Initiative of the Year - Indonesia and Digital Consumer Banking Initiative of the Year - Indonesia.

“At UOB, our purpose is to build the future of ASEAN for the people living within and connecting with the region,” the Bank stated.

This reflects UOB’s long-term commitment to its customers, colleagues, and communities, and its promise to always do right by them.

‘Our purpose is to build the future of ASEAN for the people living within and connecting with the region’

Ready to connect to ASEAN’s most extensive trade network?

Transform your business with the One Bank For ASEAN that can power your growth.

Connect with us at uob.my/onebankforasean

2025

Digital Business Banking Initiative of the Year - UOB Malaysia

Copyright (C) 2025 United Overseas Bank (Malaysia) Bhd. Registration No: 199301017069 (271809-K). All Rights Reserved.

ASIAN BANKING & FINANCE | Q4 2025 59

ISLAMIC BANKING INITIATIVE OF THE YEAR - SINGAPORE PRIORITY BANKING INITIATIVE OF THE YEAR - SINGAPORE

Maybank Singapore Clinches Dual Honours at Asian Banking & Finance Awards 2025 Beyond the affluent, the bank also pioneered an entrepreneurship programme to foster financial inclusion. and support teams,” stated the bank.

Championing Values-Based Banking and Social Enterprise A cornerstone of Maybank Singapore’s inclusive banking strategy is the myimpact Microbusiness Entrepreneurship Programme - one of its signature Zakat initiatives designed to elevate social entrepreneurship. In 2024, working in collaboration with community partners and government stakeholders, the programme engaged participants from 201 non-profit organisations. The five-week curriculum covers core business principles, home-based business legislation, financial and digital literacy, and business modelling.

Maybank Singapore at the Asian Banking & Finance Awards 2025

M

aybank Singapore has earned two prestigious distinctions at the Asian Banking & Finance Retail Banking Awards 2025: Priority Banking Initiative of the Year - Singapore and Islamic Banking Initiative of the Year - Singapore. These accolades celebrate Maybank’s unwavering commitment to seamless cross-border wealth management and pioneering social inclusion strategies across the region.

Strategic Empowerment of Affluent Clients Leveraging an established footprint across all 10 ASEAN markets, Maybank Premier is recognised as a trusted partner for affluent clients within the Maybank Group. Its robust regional network enables clients to navigate cross-border wealth management solutions with ease, complemented by Maybank’s benchmark Islamic Wealth Management services.

Digital transformation remains central to Maybank’s strategy. Recent enhancements include the integration of goal-based investment tools into Maybank’s digital wealth management platform - across both mobile and web channels - empowering clients to visualise, plan, and manage investment objectives with personalised advisory and frictionless execution. This straight-through digital process delivers a cohesive client journey from onboarding to service fulfilment, setting new standards for excellence in client experience.

Maybank Premier’s client-centric approach 60 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

extends beyond technology. Affluent customers benefit from tailored investment advisory, exclusive lifestyle engagement offerings, priority access to credit cards and lounges, and strategic thought leadership through expert seminars and market reports.

The bank’s unified multichannel engagement framework reinforces satisfaction and deepens client relationships at every touchpoint.

At Maybank Premier, understanding and anticipating client needs is paramount

Maybank Premier’s strategic execution was evidenced in 2024: assets under management reached SG$14.1 billion, serving a client base of 32,000, and achieving a compound annual growth rate of 15.1% in investment assets.

This sustained performance showcases Maybank’s capacity to blend regional market expertise with a relentless client-first philosophy.

“At Maybank Premier, understanding and anticipating client needs is paramount. Clients can expect enhanced portfolio servicing, upgraded lounge experiences, and improved turnaround times enabled by centralised sales

A strategic focus on inclusivity guided programme delivery, ensuring tailored support for participants with special needs, including neurodivergence. Comprehensive one-to-one mentorship with sector leaders supports sustainable microbusiness launches, underscoring Maybank’s commitment to broadening entrepreneurial opportunity and economic participation.

Recognising the pivotal role of SMEs in Singapore’s entrepreneurial ecosystem, Maybank’s initiatives continue to champion inclusive growth. By facilitating microbusiness transformation, the bank remains steadfast in its mission to Humanise Financial Services.

Regional Recognition Across Maybank Group Complementing Maybank Singapore’s achievements, Maybank Indonesia was also lauded at the Asian Banking & Finance Retail Banking Awards 2025 with multiple wins, including SME Digital Innovation of the Year, Sustainability Initiative of the Year, Islamic Banking Initiative of the Year, and Wealth Management Platform of the Year. Meanwhile, Maybank Malaysia was honoured with Mobile Banking & Payment Initiative of the Year, Digital Consumer Banking Initiative of the Year, and Private Bank of the Year, reinforcing the Group’s leadership in strategic innovation and client excellence throughout the region.

ASIAN BANKING & FINANCE | Q4 2025 61

RURAL/COOPERATIVE BANK OF THE YEAR - PHILIPPINES

Cebuana Lhuillier Bank: Leading the charge toward inclusive finance in the Philippines Through strong financial growth, nationwide reach, and a phased digitalisation strategy, CLB continues to transform access to financial services for underserved Filipino communities.

C

ebuana Lhuillier Bank (CLB) has earned the prestigious title of Rural/ Cooperative Bank of the Year Philippines at the Asian Banking & Finance Retail Banking Awards 2025. This marks the bank’s fifth consecutive win, underscoring its consistent excellence in service and innovation for communities often overlooked by traditional banking.

This places CLB amongst Asia’s topperforming banks and reaffirms its role in advancing inclusive finance, particularly in rural areas across the Philippines.

“This honour from the ABF Awards affirms our commitment to bringing inclusive financial services to every Filipino, especially those in remote and financially excluded communities,” said Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier.

“It is truly a proud moment for us to be acknowledged for our efforts, as we continue to meet Filipinos at every stage of their financial journey and support them in building a more secure and empowered future.”

Strong financial growth and stability The award comes at a pivotal time, as CLB continues to demonstrate strong financial performance and consistent growth. As of the fourth quarter of 2024, the bank’s total assets surged to PHP9.50b, a testament to its operational soundness and growing market presence. Deposits reached PHP8b, whilst total equity climbed to PHP1.02b— clear indicators of investor confidence and customer trust.

CLB’s lending portfolio grew by an impressive 71% year-on-year from 2023 to 2024. This growth underscores the demand for accessible financial solutions, particularly amongst underserved segments.

A standout initiative is the Teachers Loan programme, which more than doubled in value from PHP 1.81 billion to PHP 3.01 billion within a year. Housing and business loans also posted significant gains, contributing to broader goals of economic empowerment and financial mobility in communities historically overlooked by mainstream banking.

These figures point to more than just strong financial performance—they reflect CLB’s deliberate strategy to enable Filipinos to build more secure, financially resilient futures.

62 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

banking is often inaccessible to remote populations. By combining physical access with grassroots community engagement, CLB makes banking more approachable and relevant to everyday Filipinos. Its presence in far-flung areas helps bridge the gap between formal financial systems and those long excluded from them, reshaping the financial landscape for the better.

Cebuana Lhuillier Rural Bank Inc. at the Asian Banking & Finance Awards 2025

Expanding access through nationwide reach At the heart of CLB’s success is its unparalleled accessibility. The bank leverages Cebuana Lhuillier’s established infrastructure to deliver banking services through 3,500 branches nationwide via accredited cash agent partnerships, in addition to its nine dedicated bank branches.

It fuels our passion to keep innovating and extending our services to empower even more Filipino families This hybrid service model has proven particularly effective in a country with an archipelagic geography, where traditional

Cebuana Ipon Box

World Savings Day 2024

Pioneering a phased digitalisation strategy Cebuana Lhuillier Bank has also demonstrated agility and foresight through its phased digitalisation approach—carefully designed to enhance service delivery whilst ensuring compliance and resilience. The rollout began in 2019 with basic deposit accounts aimed at first-time clients and gradually expanded to include more sophisticated digital services.

By 2021, CLB introduced ATM and POS access to broaden transactional touchpoints.

In 2022, the bank launched expanded online fund transfer capabilities, integrating key services such as InstaPay, PesoNet, and Domestic Remittance (DomRem).

Collectively, these platforms have processed billions in transactions. Notably, InstaPay alone handled PHP25.5b, highlighting the scale of digital adoption and the relevance of these tools in real-world banking scenarios. The seamless integration of physical and digital channels ensures that CLB’s clients are never left behind in a rapidly evolving financial ecosystem.

Innovation through technology Staying true to its drive for innovation, CLB continues to invest in technology that empowers Filipinos. The eCebuana app brings the bank’s full suite of services—from savings to fund transfers and bill payments—into the hands of users across all income segments.

With just a few taps, clients can conduct transactions securely and conveniently.

An award for the people Ultimately, the Asian Banking & Finance award is not just a milestone for Cebuana Lhuillier Bank, it is a recognition of the lives being transformed. Every innovation, every service, and every branch opened is centred on a singular goal: to serve the Filipino people.

Whether through microloans, mobile banking, or community-based lending, CLB places the individual at the heart of its strategy.

ASIAN BANKING & FINANCE | Q4 2025 63

FINANCIAL INCLUSION INITIATIVE OF THE YEAR - TAIWAN DIGITAL TRANSFORMATION OF THE YEAR - TAIWAN

Taiwan Business Bank proudly wins two prestigious awards from Asian Banking and Finance TBB took Digital Transformation of the Year - Taiwan and Financial Inclusion Initiative of the Year - Taiwan, recognising its dedication and achievements in digital banking.

Domestically, it won the national first prize in the most authoritative National Brand Yushan Award for four consecutive years— the first amongst state-owned banks—and was honoured with a presidential reception.

In 2025, it again won two major Asian Banking & Finance awards, underscoring its fintech strength.

Taiwan Business Bank team

T

aiwan Business Bank is driving dual transformation in digital and sustainable finance, aiming to be the bank of choice for SMEs and customers.

It promotes inclusive finance and digital accessibility by embracing fintech, datadriven growth, and process digitisation.

Through upgraded digital channels and mindset shifts, TBB delivers user-focused omnichannel services. Leveraging social media and digital marketing, it boosts the adoption of internet banking, mobile banking, and payments across diverse platforms to exert financial influence.

Digital Transformation of the Year - Taiwan TBB prioritises customer needs, responds swiftly, and drives innovation through ongoing fintech development and digital transformation. It has introduced exclusive, user-friendly features and integrated the Hokii mascot into users' lifestyles via digital accounts and mobile apps.

Through the Hokii brand, TBB has built a distinct digital identity, seamlessly blending banking with daily life.

Financial Inclusion Initiative of the Year Taiwan TBB stays customer-centric, focusing on the “Strong Generation” (individuals 64 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

aged 55+). In July 2024, TBB launched Taiwan’s first exclusive “Most Considerate Senior-Friendly APP,” featuring a simplified interface, large fonts, clear icons, personalised greetings, and fall detection with SOS. It empowers the Strong Generation to dare to use, know how to use, and want to use the app.

About the awards programme The esteemed Asian Banking & Finance Retail Banking Awards is the foremost awards programme for the banking and finance industry in Asia. This prestigious event aims to acknowledge and honour outstanding entities that are reshaping the retail banking landscape. Serving as a distinguished platform, the awards programme enables retail banks to highlight their innovative solutions, retail products, digital banking breakthroughs, and exceptional customer experiences that have redefined industry standards.

Open to all retail banks operating in Asia, this awards program features categories covering retail products, digital banking initiatives, customer experience enhancements, and more.

Through upgraded digital channels and mindset shifts, TBB delivers user-focused omnichannel services

Digital Finance Achievements TBB actively promotes digital innovation and sustainable finance, whilst enhancing IP management to safeguard fintech outcomes. In 2024, it received the A-Level TIPS Trademark Certification and ranked third amongst domestic banks for invention patents in the MOEA’s “Top 100 Patent Rankings.” TBB delivers smart, efficient, and customer-centric financial services. In 2024, it earned over 30 prestigious awards, including accolades from Asian Banking & Finance.

Taiwan Business Bank

MariBank means Let’s Bank Banking that is simple, reliable and rewarding for everyone

MARI SAVINGS ACCOUNT

MARI CREDIT CARD

MARI INVEST

MARI BUSINESS ACCOUNT

SME Financial Inclusion Initiative of the Year (Singapore) Asian Banking and Finance Retail Banking Awards 2025

We are licensed by the Monetary Authority of Singapore and are a Deposit Insurance Scheme member.

For more information please visit our website at www.maribank.sg Insured up to S$100k by SDIC. ASIAN BANKING & FINANCE | Q4 2025 65

DIGITAL TRANSFORMATION OF THE YEAR - HONG KONG SME DIGITAL INNOVATION OF THE YEAR - HONG KONG

Shanghai Commercial Bank: Dual Recognition for Excellence in Digital Transformation and SME Through a bold three-year Fintech roadmap, Shacom has revolutionised SME banking with AI-driven insights, instant digital onboarding, and cross-border solutions that merge tradition with transformation.

B

usinesses being the economic driving force and contributor to the vitality of society, their success requires steadfast financial partnerships and support.

For 75 years, Shanghai Commercial Bank (Shacom), with roots tracing back to early 20th century Shanghai, has been a trusted community bank in Hong Kong, through tailored financial solutions that empowered numerous small and medium-sized enterprises (SMEs) grow from small family businesses to listed companies and even global enterprises. With 50 branches across Hong Kong, Mainland China, the US, and UK, Shacom combines cross-border expertise with digital innovation to support businesses in navigating evolving challenges – from pandemic recovery and economic downturn to sustainability and digital transformation.

At Shacom, the provision of digitally innovative banking solutions has been the top priority on its agenda, and has increasingly leveraged Fintech to address customers’ pain points. In 2021, a Three-year Fintech Plan was devised to target a number of digital initiatives in enhancing systems in data management, as well as optimising customer experience and operation efficiency. Shacom’s commitment to fintech has earned its dual honours at the Asian Banking & Finance Retail Banking Awards 2025 – winning both Digital Transformation of the Year - Hong Kong and SME Digital Innovation of the Year - Hong Kong, in recognising its effort and dedication to digitally transform its SME banking services.

Bank-wide digital transformation at Shacom Over the past three years, Shacom has launched over 20 digital initiatives, yielding

Shanghai Commercial Bank

66 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

the following pivotal successes that have redefined the bank. For example, Shacom has built a cloud-based CRM platform that fuelled a 40%+ surge in wealth management revenue by equipping relationship managers with AI-driven customer insights. In addition, the launch of SME digital onboarding and loan application platform utilising Hong Kong Monetary Authority’s data sharing infrastructure, Commercial Data Interchange (CDI) and Interbank Account Data Sharing (IADS), has reduced turnaround time from days to just 30 minutes, attracting over 40% new-to-bank clients. To cater for future digital system optimisation down the road, a cloud infrastructure and API connectivity have been built, enabling rapid innovation and collaboration with fintech start-ups and regulators. With digitalisation and AI, Shacom has successfully streamlined key banking processes and digitalised internal reporting systems, achieving a 75% productivity boost, 80% faster credit underwriting, and a 50% reduction in computer paper consumption.

At Shacom, the provision of digitally innovative banking solutions has been the top priority on its agenda Digital transformation in SME banking Shanghai Commercial Bank has made notable achievements in digital transformation, particularly in SME banking. Besides the initiation of the online onboarding and loan application platform, reducing time to just 30 minutes and increasing new-tobank corporate/SME customers by 40%, it has also introduced cuttingedge solutions in SME financing, harnessing the power of data to provide more accurate and timely analysis for credit decisions.

In addition, the Bank offers a range of beyond-banking features that empower SMEs to make well-informed decisions and streamline

Shanghai Commercial Bank at the Asian Banking & Finance Awards 2025

their operations, for example, Shacom offers Customer Insight Report – its first-in-Hong Kong Customer Insight Report for SMEs, leveraging data from IADS, providing a onestop view of interbank account information/ transactions, cash flow analysis, and suspicious transaction identification.

A new chapter in digital transformation The successful execution of the bank’s Threeyear Fintech Plan has marked a meaningful milestone in its digital transformation journey, enabling the bank to enhance operational efficiency, redefine customer experience, and receive recognition from regulators, customers, and renowned institutions. Shacom has been actively participating in HKMA’s CargoX Expert Panel, contributing to streamlining trade finance processes for cross-border SMEs with the digitalisation of real-time logistical data. By leveraging innovation without veering away from heritage, Shacom has modernised its CRM systems, revolutionised SME onboarding and lending, and harnessed cloud and AI technologies. Shacom’s commitment to ESG principles and human-centric values has also been embedded into its core business objectives.

Looking ahead, Shacom remains dedicated to serving customers with solutions that will unlock businesses’ potential, strengthen communities, and build a future where tradition and transformation go hand in hand.

Explore Shacom’s award-winning SME solutions at https://www2.shacombank.com. hk/en/rao.

ASIAN BANKING & FINANCE | Q4 2025 67

VIRTUAL BANK OF THE YEAR - INDONESIA ECOSYSTEM INITIATIVE OF THE YEAR - INDONESIA

SeaBank champions financial inclusion in Indonesia through digital transformation The bank empowers underserved communities by offering seamless, secure, and accessible financial services.

I

n the age of rapid digital advancement, financial institutions are racing to keep pace with evolving technologies. In Indonesia, digital transformation is not just a competitive edge — it is a necessity. One bank that is rising to meet this challenge is SeaBank, a bank that focuses on serving the underserved community.

Indonesia, the world’s fourth most populous nation, boasts a youthful, mobilefirst population. Yet despite high internet penetration and a growing digital economy, tens of millions of Indonesians remain underserved or entirely unbanked. Many live in remote areas, far from traditional bank branches, or lack the documentation and familiarity needed to navigate the conventional banking systems.

SeaBank’s mission is clear: to bridge this gap using the power of technology. Born as a digital bank, SeaBank is not constrained by physical infrastructure.

Instead, it uses a mobile-first approach, enabling users to access essential banking services from anywhere, anytime — whether in the heart of Jakarta or in rural provinces across the archipelago.

Empowering the underserved with seamless access SeaBank has reimagined what banking can be. Opening a bank account, traditionally a cumbersome process requiring branch visits and paperwork, can now be completed within minutes through the SeaBank application.

The app guides users step-by-step in a simple, user-friendly interface — designed for all levels of digital literacy.

Once onboarded, customers can enjoy 24/7 access to their accounts, perform real-time money transfers, pay bills, top up e-wallets, as well as access other everyday financial services. These conveniences are not only a matter of comfort but a critical component of economic empowerment, particularly for Indonesia’s informal workers and microentrepreneurs who would often fall outside the traditional banking framework.

SeaBank’s ability to deliver this level of accessibility is rooted in its cutting-edge digital infrastructure and commitment to ongoing innovation. At the heart of this infrastructure is a robust, secure, and scalable platform that ensures smooth operation even as the user base grows.

68 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

A digital bank with a human-centric design SeaBank’s approach to digital banking is fundamentally customer-centric.

By putting user experience at the core of its design, the bank ensures that technology remains a tool for empowerment, not a barrier. The SeaBank app is designed to be intuitive and inclusive, serving first-time digital users just as effectively as digitally savvy millennials.

SeaBank was named Virtual Bank of the Year - Indonesia at the Asian Banking & Finance Awards 2025. The award highlights SeaBank’s success in delivering a suite of banking features, from high-yield savings accounts with daily interest payout to instant transfers, all within a single platform.

SeaBank's Vice President Director, Junedy Liu receives the bank’s trophies at the Asian Banking & Finance Retail Banking Awards 2025

Born as a digital bank, SeaBank is not constrained by physical infrastructure SeaBank’s strength lies not only in what it offers but in how it offers it: transparently, securely, and inclusively. Its app-based services have significantly reduced the time and effort required to access banking, making it easier than ever for Indonesians to integrate financial tools into their daily lives.

Balancing innovation Whilst SeaBank is bold in innovation, it remains deeply grounded in prudentiality and regulatory compliance.

SeaBank at the Asian Banking & Finance Retail Banking Awards 2025

The bank adheres strictly to regulators' guidelines, ensuring that its growth is both sustainable and responsible.

SeaBank applies rigorous risk management principles and data protection standards, giving users confidence that their finances — and personal information — are safe. This approach ensures the trust of its customers whilst reinforcing the integrity of Indonesia’s broader financial ecosystem.

Driving a more inclusive financial future SeaBank’s impact goes beyond individual convenience — it speaks to a broader structural transformation in how financial services are delivered and accessed. By leveraging digital channels, SeaBank is helping the government and private sector to accelerate Indonesia’s national financial inclusion agenda.

Looking ahead, SeaBank remains committed to developing products and services that reflect the needs of the people it serves. Whether through savings innovations, access to credit for MSMEs, or education about personal finance.

In a world where the divide between the connected and disconnected often mirrors the gap between the financially included and excluded, SeaBank’s digital-first model is not just a business strategy — it is a social mission. With award-winning technology, a relentless focus on user experience, and an unwavering dedication to inclusive growth, SeaBank is setting a new benchmark in digital banking, not just in Indonesia, but across the ASEAN region.

ASIAN BANKING & FINANCE | Q4 2025 69

DIGITAL WALLET INITIATIVE OF THE YEAR - TAIWAN

E.SUN Wallet: Offering diverse and convenient payment financial services E.SUN Wallet is the first digital wallet in Taiwan to integrate both credit cards and e-payment accounts.

Jung-Hua Lin, Sean, Senior Executive Vice President

T

aiwan has witnessed rapid growth in cashless payments, with credit cards remaining the primary payment tool. As public acceptance and usage of cashless payments rise, a vibrant ecosystem of payment methods has flourished across Taiwan, with consumers adopting different options for various spending scenarios. However, this diversity has led to a fragmented user experience, with various payment tools requiring different application processes and transaction methods, resulting in a lack of consistency for consumers.

E.SUN Wallet by E.SUN Bank is Taiwan's first and only digital wallet to integrate credit cards and electronic payment accounts. By consolidating multiple payment instruments, it offers customers access to over a million merchant locations and thousands of bill payment options. Serving over 2.7 million customers, E.SUN Wallet has demonstrated remarkable growth, expanding its registered user base by 70% over the past three years.

The only payment app in Taiwan's financial industry integrating credit cards, bank accounts, and e-payment services E.SUN Wallet offers users the flexibility to pay with their preferred method, including credit cards, debit cards, e-payment accounts, or bank accounts. Through the comprehensive integration of QR codes from various banks and e-payment institutions, the app delivers a convenient "One App, One Click, One Code" payment experience.

70 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

E.SUN Wallet by E.SUN Bank

E.SUN Wallet can be used for purchases at 560,000 stores across Taiwan and for settling over 8,200 types of bills. It also offers versatile ways to use credit card points, including point exchanges, charitable donations, airline mile conversions, and point-of-sale redemptions at over five million domestic and international merchant locations. This extensive coverage spans a wide array of life and consumption scenarios, from in-store and online shopping to daily bill payments and rewards utilisation.

A pioneer in cross-border payments, offering seamless integration with PayPay in Japan E.SUN Wallet leads the market with its cross-border e-payment integration, partnering with Japan's PayPay. This collaboration allows customers to make QR code payments at Japanese stores that do not accept credit cards. E.SUN Wallet is also the first in the industry to launch a "Direct JPY Payment" service, enabling customers to link their foreign currency accounts to make payments directly in Japanese Yen at millions of PayPay-affiliated merchants, creating a novel cross-border payment experience.

Pioneering card management and security features for a secure payment experience To safeguard customer transactions, E.SUN Wallet introduced a pioneering "Card Management" feature, allowing users to independently enable or disable online/instore and domestic/overseas transactions.

It also incorporates a "Transaction Security Authentication" service. When a customer receives a real-time transaction push

notification, they can immediately report a suspected fraudulent transaction through the app within a specific timeframe, prompting the bank to block the card.

Furthermore, E.SUN Wallet regularly sends out anti-fraud awareness messages to remind customers to stay vigilant and protect themselves from scams.

With payment as its core, E.SUN Wallet has developed distinctive and differentiated services

Promoting sustainable consumption and ESG initiatives E.SUN Wallet has launched a "Carbon Account" and a proprietary "Consumption Carbon Footprint Calculator." These features allow customers to track their carbon reduction achievements from using designated public transportation and from their daily step count. Customers can also monitor the carbon footprint of each transaction, seamlessly integrating energysaving and carbon-reduction actions into their daily consumption habits.

With payment as its core, E.SUN Wallet has developed distinctive and differentiated services. Looking ahead, we will continue to be guided by customer needs, relentlessly innovating and optimising the service experience to become the most trusted digital financial partner for consumers.

Since 1974 Upholding Aspirations Across Generations

Images for illustration purposes only.

ASIAN BANKING & FINANCE | Q4 2025 71

25

RISK MANAGEMENT INITIATIVE OF THE YEAR - VIETNAM VIETNAM DOMESTIC RISK MANAGEMENT INITIATIVE OF THE YEAR

Vietcombank secures double wins at Asian Banking & Finance Awards 2025

Vietcombank has been honoured with the awards in both the wholesale and retail banking categories at the 2025 Asian Banking and Finance Awards, marking its second consecutive year of recognition.

W

ith over six decades of continuous growth, Vietcombank has established itself as a pioneer and one of Vietnam’s most influential financial institutions. As the first state-owned commercial bank to undergo equitisation and list on the stock exchange, the bank has played a pivotal role in shaping the modern Vietnamese banking landscape.

Backed by a strong financial foundation, an extensive nationwide network, and strategic partnerships with global institutions, Vietcombank is consistently recognised by international credit rating agencies for its operational excellence, prudent risk culture, and sound governance.

Risk management as a pillar of resilience At Vietcombank, risk management is not merely a regulatory requirement. It is central to the bank’s governance framework and embedded across its operations and decision-making. The bank has developed a comprehensive and integrated risk management framework that spans all risk types, business lines, customer segments, and organisational levels. This ensures end-to-end oversight and effective risk mitigation throughout the institution. In an increasingly volatile global financial environment marked by emerging risks, Vietcombank has remained resilient, maintaining strong asset quality, stable operations, and an adaptive posture. It continues to lead the industry in aligning with global risk management standards, from the early adoption of Basel II to ongoing progress toward full Basel III compliance.

The consecutive wins at the Asian Banking & Finance Awards stand as a testament to Vietcombank’s strength in risk governance and its unwavering commitment to building a safe, stable, and trustworthy institution for customers, shareholders, as well as the broader community.

Wholesale banking excellence: Advancing with the MRM System The Vietnam Domestic Risk Management Initiative of the Year award in the wholesale segment recognised Vietcombank’s internally developed Model Risk Management (MRM) System. This system enables the bank to systematically oversee quantitative models used in risk measurement, business operations support, 72 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Mrs Nguyen Thi Hong Van - Head of the Legal and Compliance Division

VCB's representatives on the Asian Banking & Finance Awards stage

and other critical functions.

By centralising, automating, and standardising model lifecycle management, the MRM System enhances transparency and operational efficiency, thereby strengthening the bank’s risk management across key areas.

Retail Banking Innovation: Strengthening frontline risk control with VCB Tablet In the retail segment, Vietcombank was honoured for its Risk Management Initiative of the Year - Vietnam with the VCB Tablet initiative. This innovative solution empowers branch staff to verify customer identities at the point of transaction through direct integration with the National Population Database and biometric authentication.

The initiative not only enhances customer convenience but also significantly reduces risks associated with identity fraud, fraudulent account openings, and money laundering, offering a practical and forwardlooking solution for today’s increasingly digital environment.

Commitment to sustainable growth At the awards ceremony, Mrs Nguyen Thi Hong Van, Head of the Legal and Compliance Division, reiterated Vietcombank’s strong commitment to risk governance as a

core driver of its long-term development strategy. The bank sees this consecutive recognition not just as an honour, but as motivation to further modernise its risk management practices and promote a proactive risk culture throughout the organisation. As the financial services landscape continues to evolve, Vietcombank remains focused on continuous improvement and aligning its operations with global standards. Building on this latest recognition, the bank aims to further enhance its ability to respond to emerging risks whilst reinforcing its operational resilience, transparency, and public trust.

Looking ahead, risk management will continue to serve as a cornerstone of Vietcombank’s sustainable growth strategy.

The bank is committed to aligning with international benchmarks and exploring the integration of emerging technologies, including AI (artificial intelligence) and machine learning, to strengthen its risk assessment capabilities and predictive analytics. Through robust oversight and a culture of innovation, Vietcombank continues to solidify its pioneering role in the banking sector, safeguarding stakeholder interests and contributing to the long-term stability of Vietnam’s financial system.

Vietcombank remains focused on continuous improvement and aligning its operations with global standards

Trusted Partner for Multigeneration Resilient in driving continuous expansion Global Expertise Asian Perspective

Expert Discussion Strategic Connection

Asia-wide Network All-round Privileges

Live

Purposefully

With World’s Best, Asia’s Safest*

go.dbs.com/privateclientid

*World’s Best Bank 2025, 2021, 2019, Euromoney | Safest Bank in Asia 2009 - 2024, Global Finance PT Bank DBS Indonesia is licensed and supervised by the Indonesian Financial Services Authority (OJK) & Bank Indonesia (BI), and also a participant of Indonesia Deposit Insurance Corporation (LPS) guarantee program.

ASIAN BANKING & FINANCE | Q4 2025 73

CREDIT CARD INITIATIVE OF THE YEAR - VIETNAM MOBILE BANKING & PAYMENT INITIATIVE OF THE YEAR - VIETNAM

Nam A Bank's business results in the first 6 months of 2025: Excellent scale, positive growth In the first 6 months of 2025, Nam A Bank recorded pre-tax profit of over VND2.500b, up 14% over the same period last year, a positive result that came from strong credit growth.

N

am A Bank's total assets reached nearly VND315.000b by the end of June 2025, up more than 30% compared to the beginning of the year and marking a strong step forward in the scale of operations of this bank in more than 32 years of operation. Outstanding credit reached nearly VND193.000b, up 14.7% compared to the beginning of the year, mobilised from economic organisations and residents reached nearly VND211.000b, up more than 22% Nam A Bank received the awards from Asian Banking & Finance Retail compared to the beginning of the Banking Awards 2025 year. In the context of strong credit growth in the whole industry (nearly 9.9% in the first 6 months of the year), Nam A Bank proactively promoted mobilisation from the beginning of 2025 to ensure a balance of sources.

Nam A Bank continues to maintain Nam A Bank's promotion of credit growth a prudent management policy in the first 6 months of the year is to serve in lending, liquidity and capital the capital needs of customers. In the context of the government prioritising the safety promotion of recovery and development of production business, the bank has proactively expanded credit to priority areas, contributing to effectively spreading other financial instruments and expanding capital flows in the economy. operations in the interbank market to optimise profits.

International partnerships and diversified investment strategies Strong non-interest income growth and Since the beginning of 2025, Nam A improved asset quality Bank has continuously expanded its Net profit from valuable paper trading in cooperation and successfully mobilised the first 6 months of the year increased by many international capital sources from nearly 50% compared to the same period leading prestigious financial institutions in 2024. Foreign exchange trading also had such as the Global Climate Partnership positive profit growth compared to the Fund, The Bank of New York Mellon, The same period in 2024.

Shanghai Commercial & Savings Bank, and Nam A Bank's non-interest income Symbiotics Investment SA. These capital ratio reached 15.5% in the first 6 months sources play an important role in the green of 2025, a sharp increase compared to credit growth strategy, supporting small 8.43% in the same period in 2024, showing and medium enterprises, whilst enhancing a significant improvement in the revenue Nam A Bank's commitment to sustainable structure and the bank's orientation to development and ESG standards. diversify its business activities Nam A Bank proactively seeks profits The above results have contributed to from the secondary market, especially the helping Nam A Bank maintain a stable interbank market and invests in government growth rate in recent years. In which, ROE bonds, to diversify revenue sources and was maintained at nearly 20% and ROA reduce dependence on interest income. The reached 1.5%. bank is actively participating in activities Asset quality is gradually improving, such as buying and selling bonds, investing in 74 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

as group 2 debt (before CIC) has decreased significantly from 1.47% at the beginning of 2025 to 0.62%, whilst the bad debt ratio (from group 3 to group 5) is at 2.63%. In addition, the bank is striving to set a roadmap to increase the credit risk provisioning level in the coming time to gradually improve the bad debt coverage ratio, helping to increase the safety buffer for bad debt handling, as well as increase the sustainability of the bank, thereby expecting to improve the international credit rating results in the future.

The bank's operating expenses to total operating income (CIR) as of 30 June 2025 decreased to 32.2% (down 7.6% over the same period), at the lowest level in many years. Maintaining asset quality and tightly controlling bad debt is the foundation for Nam A Bank to develop, especially when the bank implements a strategy to expand its scale and network.

Strong liquidity and risk management Nam A Bank continues to maintain a prudent management policy in lending, liquidity and capital safety.

As of the end of June 2025, the loanto-deposit ratio (LDR) was controlled at 67.17%, reflecting the strategy of balancing resources. The ratio of shortterm capital used for medium and longterm loans decreased from 22.33% to 21.94%, showing an improvement in the quality of capital term structure.

Nam A Bank also maintained a high level of liquidity reserves, with a reserve ratio of 22.7%, double the minimum level prescribed by the State Bank. In addition to this, the 30-day payment capacity ratio for VND has increased from 87.83% to 104.57%, showing that Nam A Bank's short-term liquidity continued to be firmly consolidated.

Fitch Ratings – one of the three leading credit rating organizations in the world – has announced the Long-Term Issuer Default Rating (IDR) of Nam A Bank at “B+” with a stable outlook. At the same time, Moody’s also maintained the B1 credit rating for Nam A Bank, whilst maintaining a stable outlook.

ASIAN BANKING & FINANCE | Q4 2025 75

SUSTAINABILITY INITIATIVE OF THE YEAR - KUWAIT

Gulf Bank takes home Sustainability Initiative of the Year - Kuwait award

The bank was honoured for transforming advertising materials into reusable bags in partnership with Ibrah.

Gulf Bank Branch

I

n a significant recognition of its longstanding dedication to environmental stewardship and responsible business practices, Gulf Bank has been awarded the prestigious title of Sustainability Initiative of the Year - Kuwait by Asian Banking & Finance as part of its Retail Banking Awards. The award was granted in acknowledgement of Gulf Bank’s innovative initiative to recycle outdoor advertising materials and convert them into stylish, reusable tote bags, executed in collaboration with the local community enterprise Ibrah.

This accolade reaffirms Gulf Bank’s deep-rooted commitment to sustainability, underscoring its proactive approach to embedding environmentally responsible practices into the very fabric of its operations. The initiative saw over 5,000 square metres of used advertising materials upcycled into reusable bags, which were then distributed free of charge during a variety of environmental and social engagement events throughout Kuwait. The campaign sought to actively reduce reliance on singleuse plastic and promote a circular mindset of reuse and conservation.

Intentional action At the heart of this initiative lies a belief that true sustainability starts with intentional action—even the smallest step can be a catalyst for lasting change. Gulf Bank’s philosophy is built on the understanding that environmental responsibility is a shared endeavour, not a competitive pursuit. The bank views sustainability not as a marketing campaign or short-term project, but as an enduring value system that calls for collaboration across all sectors of society.

In this regard, the Marketing Department

76 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

at Gulf Bank has played a central role in amplifying the message and mission of sustainability. By leveraging the power of storytelling, media, and brand platforms, the bank has been able to reshape public perception, influence behaviour, and champion the values of environmental consciousness. Marketing is no longer a function of promotion alone—it is a driver of social transformation, and Gulf Bank continues to embrace that responsibility with conviction.

Across its social media channels, press campaigns, branch activations, and corporate programmes, the bank consistently integrates messages that elevate public understanding of environmental challenges whilst also showcasing tangible solutions.

The initiative with Ibrah is a prime example of how communications can bridge the gap between awareness and action, encouraging both corporate stakeholders and everyday citizens to take part in meaningful, ecofriendly practices.

Through small yet purposeful actions, we can create a lasting impact Broader CSR strategy This collaborative project also embodies Gulf Bank’s broader CSR strategy, which actively supports local talent, creative entrepreneurship, and community empowerment. Ibrah, the bank’s chosen partner for this initiative, is widely respected for its commitment to sustainability, its craftsmanship, and its social impact, particularly its support for underprivileged families and homegrown artisans. By working with such partners, Gulf Bank not only advances its environmental goals but also reinforces its national commitment to empowering Kuwaiti youth and small businesses with purpose-driven projects.

Commenting on this milestone, Mrs Najla Aleisa, Chief Marketing Officer

Gulf Bank - Tote Bag

at Gulf Bank, said: “We are immensely proud to have received this award, which stands as a testament to Gulf Bank’s strategic commitment to sustainability and environmental accountability. As a Kuwaiti financial institution, we believe it is our responsibility to lead by example— conserving resources, reducing waste, and cultivating a more sustainable way of doing business. It is especially inspiring to witness the enthusiasm of young Kuwaitis and local entrepreneurs in embracing green initiatives that contribute to the welfare of our society and planet.”

She continued, “We invite everyone— individuals, corporations, and institutions— to be part of this journey. Sustainability is not a trend or a competition; it is a collective obligation that requires commitment, creativity, and collaboration. Through small yet purposeful actions, we can create a lasting impact.”

In line with its transparent and accountable approach, Gulf Bank also invites the public to explore its most recent Sustainability Report, which is available on its official website. The report offers a comprehensive overview of the Bank’s Environmental, Social, and Governance (ESG) achievements over the past year, including initiatives across waste reduction, climate impact, community development, and responsible governance. It reflects the bank’s ongoing dedication to aligning its operations with global sustainability goals and national development priorities.

As Gulf Bank continues its journey toward a greener, more inclusive future, it remains steadfast in its belief that sustainability must be lived, not just declared. Through the strategic integration of marketing as a force for good, the bank is not only informing the public, but inspiring a movement.

ASIAN BANKING & FINANCE | Q4 2025 77

DOMESTIC RETAIL BANK OF THE YEAR - BRUNEI

Empowering Brunei’s financial future: Baiduri Bank named best retail bank Recognised for the 13th year, the bank leads in innovation, growth, and customer-centric excellence.

F

or the 13th consecutive year, Baiduri Bank has been recognised as Domestic Retail Bank of the Year – Brunei at the Asian Banking & Finance Retail Banking Awards 2025. This prestigious accolade reaffirms the bank’s consistent leadership not only in retail banking but across Brunei’s broader financial sector, its commitment to customer-centric innovation, and its role in shaping Brunei’s financial landscape.

The judging panel praised Baiduri Bank for its “stellar performance in the past year, driven by strong financial health and effective management.” With continued growth in both Corporate and Retail Banking, the bank demonstrated strength across key metrics whilst staying firmly aligned with its long-term strategy.

A strong foundation in retail At the heart of Baiduri Bank’s recognition lies its strong retail performance, which saw total deposits surpass BND1.64b in 2024.

Notably, the bank recorded substantial growth in current and savings account (CASA) deposits, supported by targeted customer engagement and an enhanced suite of deposit and savings products. This strong performance is underpinned by the bank’s continued emphasis on financial discipline and sound governance.

Growth was also driven by strategic overseas syndicated lending, regional collaborations, prudent risk management, as well as strengthened digital capabilities, all of which contributed to Baiduri Bank’s ability to serve customers more efficiently and more responsively, both at home and across the region.

Expanding regional reach and corporate strength Baiduri Bank’s momentum over the past year was further accelerated by its growing regional footprint and corporate banking strategy. This included the bank’s participation in significant cross-border financing deals, such as Atome Financial’s US$200m syndicated credit facility alongside global leaders like HSBC, showcasing Baiduri Bank’s growing influence beyond Brunei.

A key milestone was achieved with the official launch of its first overseas Representative Office in May 2025, located at Marina Bay Financial Centre (MBFC) 78 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Tower 2 in Singapore — one of the region’s most prestigious financial hubs.

This strategic move strengthens Baiduri Bank’s regional presence and promotes its corporate and institutional banking capabilities, enabling deeper engagement with counterparty banks, financial institutions, and Brunei-linked businesses.

Digital innovation that transforms Digital transformation remains central to Baiduri Bank’s retail strategy.

The bank continues to invest in solutions that create seamless, secure, and intuitive experiences for its customers, whether they are banking, on mobile, or in person. A notable highlight is the bank’s migration of its core banking system to a cloud-based SaaS model through a partnership with Temenos — the first of its kind in Brunei.

Once completed, the initiative will enhance scalability, reduce operational cost, and enable personalised banking experiences.

It is a testament to our team’s unwavering focus on building a resilient, innovative, and customer-first organisation In 2024, Baiduri Bank launched Tap2Pay, the first contactless merchant payment solution in Brunei powered by NFC-enabled smartphones. Tailored to the needs of delivery riders, home-based entrepreneurs, and micro-merchants, Tap2Pay enables users to accept Visa and Mastercard payments directly from compatible Android devices, removing the need for traditional card terminals and improving business flexibility on the ground.

This innovation reflects Baiduri’s broader ambition to democratise access to modern payment infrastructure, especially for small and underserved businesses, aligning with its focus on financial inclusion and Small and Medium-sized Enterprise empowerment.

A sustainable, forward-thinking bank Baiduri Bank’s innovation extends beyond customer solutions to how the bank operates as a responsible corporate citizen.

In recent years, the bank has deepened its commitment to sustainability through the

Baiduri Bank

Baiduri Greenprint, an ESG framework built on the pillars of People, Process, and Planet.

The Baiduri Greenprint informs how Baiduri integrates environmental and social priorities into its financing decisions, internal processes, and community partnerships. It guides the bank in supporting green finance products, reducing operational impact, and engaging staff and stakeholders in a shared sustainability journey.

This forward-looking approach reinforces Baiduri’s role not only as a retail banking leader, but also as a driver of responsible growth in Brunei and the region.

Empowering the future of banking in Brunei Commenting on the award win, Ti Eng Hui, CEO of Baiduri Bank, said: “We are honoured to receive this recognition from Asian Banking & Finance, which reflects the collective effort and dedication of everyone at Baiduri Bank. It is a testament to our team’s unwavering focus on building a resilient, innovative, and customer-first organisation. As we grow both at home and regionally, our priorities remain grounded in sound governance, digital excellence, and financial inclusion — all whilst supporting Brunei’s long-term development ambitions.”

With a strong foundation, a growing regional footprint, and an evolving suite of retail and digital offerings, Baiduri Bank is redefining what it means to be a modern financial institution in Brunei — an institution that empowers individuals, businesses, and communities to boldly step into the future with renewed confidence.

ASIAN BANKING & FINANCE | Q4 2025 79

25

PHILIPPINES DOMESTIC TECHNOLOGY & OPERATIONS BANK OF THE YEAR ANALYTICS INITIATIVE OF THE YEAR - PHILIPPINES MID-SIZED RETAIL BANK OF THE YEAR - PHILIPPINES BLUE BOND OF THE YEAR - PHILIPPINES

EastWest clinches four major wins at Asian Banking & Finance Awards 2025 The bank was recognised for strong growth, hyperlocal strategy, and digital innovation.

E

astWest earned four major awards at the 2025 Asian Banking & Finance Awards, its strongest performance at the regional stage to date.

The bank received distinctions across multiple areas of banking and finance, ranging from retail banking to investments.

These honours recognise EastWest’s consistent delivery of easy, relevant, and forward-looking services.

“We’ve always believed that innovation only matters if it improves lives,” said Jacqueline S. Fernandez, President. “These recognitions validate the work of our teams, who keep raising the bar for what easy, accessible banking should look like.”

Retail growth EastWest was named Mid-Sized Retail Bank of the Year - Philippines at the 2025 Asian Banking & Finance Retail Banking Awards, following a record year in 2024. The bank posted its highest-ever net income of PHP7.6b, supported by strong consumer lending, a 5.8% increase in low-cost CASA deposits, and rising engagement on its EasyWay mobile app. Digital adoption reached an 81% monthly active user rate, whilst the bank’s physical network expanded to 389 stores nationwide.

This retail growth was powered by EastWest’s Branch Banking Group (BBG), which continued to strengthen the bank’s presence in communities through a mix of tailored banking services, disciplined execution, and cross-sell synergies. The launch of EastWest SuperChecking, enhancements to the EasyWay app, and Komo’s fully digital offerings all contributed to deeper client relationships and stronger deposit mobilisation.

“We’ve redefined the EastWest Store experience to focus on everyday value,” said Fernandez. “By combining personalised service with digital ease, we’re building relationships that last.”

The bank also received the Analytics Initiative of the Year - Philippines for an in-house tool that transformed how foreign exchange (FX) trades are monitored.

Developed by the bank’s Financial Markets Distribution Group, the system screens transactions in real time to flag activity that may require closer review, aligning with Bangko Sentral ng Pilipinas’ (BSP) regulations, whilst preserving seamless

80 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

execution for clients. It is the first desk-level solution of its kind in the local FX market, acting as a behind-the-scenes safeguard for both customers and the bank.

EasyBiz for SMEs In the wholesale category, EastWest was recognised as Philippines Domestic Technology & Operations Bank of the Year - Philippines, reflecting the success of EasyBiz, the bank’s cash management platform for SMEs. Since launching in March 2024, EasyBiz has simplified business payments, reduced onboarding time, and enabled real-time payroll, disbursement, and liquidity management, all from one intuitive interface.

and investor education, which highlights its position in the ESG finance space.

These four wins show where EastWest is strongest: growing with purpose, building tools that bridge physical and digital experiences, and showing up where it matters. “Across the Bank, from our relationship managers to our back office staff, our people share one goal: to deliver value where it counts,” concluded Fernandez.

“These wins belong to them.”

We’ve always believed that innovation only matters if it improves lives

First-of-its-kind blue bond To complete the list of wins, EastWest was awarded Blue Bond of the Year - Philippines for co-leading Maynilad’s PHP15b SECregistered Blue Bond issuance, the first of its kind in the country. The transaction, aligned with global and ASEAN sustainability frameworks, was oversubscribed by 2.47 times and aims to fund long-term water and wastewater projects. The bank played a strategic role in underwriting, distribution,

Jacqueline Fernandez, EastWest President

EastWest representatives at the 2025 Asian Banking & Finance Awards in Singapore: From L-R: Carlo Mariano, Head of Regional Sales, Financial Markets Distribution Group; Gerald Abrogar, Head of Investment Banking; Ivy Uy, Head of Branch Banking Group; Jacqueline Fernandez, President; Martin Reyes, Head of Marketing and Cash Management; and Gio Cruz, Head of Corporate Sales, Cash Management

ASIAN BANKING & FINANCE | Q4 2025 81

25

DIGITAL TRANSFORMATION OF THE YEAR - MALAYSIA SME BANK OF THE YEAR - MALAYSIA MALAYSIA DOMESTIC CASH MANAGEMENT BANK OF THE YEAR

Hong Leong Bank wins three awards at Asian Banking & Finance Retail Banking Awards These accolades affirm the bank’s transformative journey towards becoming the best-run bank in Malaysia. rate and over 99% utilisation rate of its cash management platform.

HLB’s Head of SME Banking, Woon Siew Hoong (Photo 1, left) and HLB’s Head of Cash Management, Alina Grace Tan Kui Kwoon (Photo 2, left) receiving their awards at the Asian Banking & Finance Retail Banking Awards 2025

H

ong Leong Bank (“HLB” or the “Bank”) has won awards in three coveted categories at the Asian Banking & Finance Retail Banking Awards 2025, a testament to the significant progress the Bank has made in its 5-year bankwide transformation journey.

Driving innovation and accessibility for SME customers A pivotal aspect of HLB’s bankwide transformation and success story is its established leadership as a prominent SME bank. For the fourth consecutive year, HLB has been named the SME Bank of the Year - Malaysia by Asian Banking & Finance.

This recognition directly reflects the Bank's diverse product offerings, pioneering digital innovations, and personalised advisory services, all meticulously designed to cater to the varied needs of its customers.

HLB’s commitment to customercentricity has translated into tangible success, with the Bank's SME loans and financing portfolios achieving an impressive 11.6% year-on-year growth, nearly double the industry average of 6.7%. This growth not only reinforces HLB's strong market position but also demonstrates its dedication to providing a seamless banking experience through increased accessibility and convenience. The Bank achieves this through its extensive branch network, flexible out-of-branch account openings, and intuitive digital platforms, all serving as effective touchpoints to ensure a comprehensive and effortless banking 82 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

journey for every customer.

Malaysia Domestic Cash Management Bank of the Year Continuing its strong performance within the corporate banking sector, HLB has also been recognised as the Malaysia Domestic Cash Management Bank of the Year. This award underscores how the Bank empowers its corporate and financial institution clients with sophisticated cash management solutions that streamline operations and enhance financial control, further contributing towards HLB’s bankwide transformation plan.

This isn't just about winning awards; it's about reimagining the way we do banking By leveraging the Bank’s real-time API integration, businesses can automate fund transfers to beneficiaries on a same-day basis, eliminating manual intervention and ensuring timely access to funds. The Bank’s cash consolidation services also enable clients to streamline cash management by centralising funds into a single account for better liquidity oversight and easier reconciliation. This comprehensive suite of services has led to the Bank consistently managing over 700 corporate clients with their cash management needs, boasting a remarkable 95.52% customer retention

Revolutionising credit collections with innovative solutions and artificial intelligence Aligned with its 5-year bankwide transformation plan, HLB has invested significantly in its digital capabilities, leading to the strategic implementation of AI, effective data management, and innovative digital banking solutions.

This commitment to digital excellence culminated in the Bank winning the Digital Transformation of the Year - Malaysia award for its groundbreaking collections platform.

Since 2018, HLB has embarked on a pervasive transformation journey within its Collections team, fundamentally reshaping the collections process with an industryfirst, fully integrated, web-based collections platform. The platform provides the Bank with a 360-degree view of its customers, strengthened by real-time information sharing, a predictive dialling system, an AI humanised voice bot, and secured remote working capabilities.

These innovations have resulted in a 47% surge in monthly call volume and allowed 20% of HLB’s collections officers to be redeployed to higher-value tasks, showcasing the tangible benefits of this digital leap.

HLB’s 5-Year bankwide transformation plan Kevin Lam, HLB’s Group Managing Director and CEO, commented, "This isn't just about winning awards; it's about reimagining the way we do banking. Two years ago, we set out on our bankwide transformation plan, and these three accolades prove that we are on the right track. This vision has defined our operating cadence, where we have reevaluated existing structures, reimagined the customer journey, and unleashed a wave of innovation throughout the Bank that is redefining what we can be to our customers.

Looking ahead, we strive to continue on our transformation journey, implementing digital innovations whilst preserving that human touch to ensure we provide an elevated banking experience for all our customers."

For more information on HLB’s business banking solutions, please visit: https:// www.hlb.com.my/en/business-banking/ home.html

www.taib.com.bn

taib.bn

PerbadananTAIB

ASIAN BANKING & FINANCE | Q4 2025 83

222 0299

TAIBVX

DIGITAL TRANSFORMATION OF THE YEAR - INDIA ANALYTICS INITIATIVE OF THE YEAR - INDIA

From vision to velocity: How ABHFL is redefining housing finance through data and digital

By Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance Limited

A

t Aditya Birla Housing Finance Limited (ABHFL), our mission is simple yet ambitious: to make homeownership a reality for millions of Indians through trust, innovation, and responsible financing. In a country as diverse and dynamic as India, achieving this requires more than just intent— it takes vision, agility, and a willingness to rethink how housing finance operates.

At ABHFL, that reimagination is being powered by digital transformation, AI-led intelligence, and deep data insights—a philosophy that has earned us prestigious global recognition at the 2025 Asian Banking & Finance Awards, where we were honoured for Digital Transformation of the Year and Analytics Initiative of the Year.

Digitally forward, customer first At the heart of our transformation is the Integrated Digital Lending Ecosystem (IDLe)—a digital stack that powers a seamless, end-to-end journey across the home loan lifecycle.

From lead generation to servicing and collections, IDLe is redefining the experience for customers, channel partners, vendors and employees alike.

The five pillars of IDLe include: Pre-Sales: Real-time lead prioritisation, channel analytics, and funnel visibility; Customer Onboarding: Rule-based decisioning, automated scorecards, and paperless processing; Service Cloud: SLA-based, omnichannel support with

personalised service journeys; End-to-End Debt Recovery: Predictive models and earlywarning systems for proactive collections; and Construction Finance Monitoring: An industry-first, automated platform for post disbursement monitoring and compliance.

At the heart of our transformation is IDLe—a digital stack that powers a seamless, end-to-end journey across the home loan lifecycle

Growth with precision: The impact of transformation Over FY23 to FY25, our digital-first approach has yielded measurable, high-impact results.

AUM grew 2.2x to INR31,053 Cr. At the same time, disbursements grew by 3.3x to INR17,648 in FY25. Customer base expanded by 3X, enhancing our reach and trust.

GNPA also reduced by 257 bps to 0.69%, led by stronger credit and risk controls. Branch efficiency rose 30%, with higher AUM per location. PBT improved by 36%, reflecting strengthened profitability.

NPS increased from 51 to 79, highlighting enhanced customer satisfaction. Lastly,

system uptime is at 99.97%, delivering consistent, uninterrupted service.

Importantly, IDLe is built for scale, adaptable across geographies and product lines. This strategic advantage places ABHFL amongst the top three fastest-growing private housing finance players in India for four consecutive quarters.

Analytics as a compass In parallel, we’ve embedded advanced analytics into our credit, risk, and recovery systems. A standout initiative helps maintain balance between effective collections, great customer experience and efficient resource utilisation.

Our four-stage predictive framework enables us to forecast EMI bounce risk and intervene early, segment high-risk accounts for targeted strategies, personalise recovery based on behavioural insights, and improve collection effectiveness while preserving customer relationships.

Key outcomes include 360 bps improvement in stage 2+3 from FY23 to FY25. Beyond numbers, this approach reinforces our core value: customer-centricity powered by intelligence.

Purpose-driven progress As part of the Aditya Birla Group, our vision goes beyond financial performance. We're dedicated to building inclusive, responsible, and future-ready financial solutions— designed to simplify processes, empower homeowners, and reach the underserved.

Innovation without finish lines Transformation isn’t a destination—it’s a continuous journey. Whether through generative AI, advanced credit models, or entering new markets, we’re constantly innovating to stay ahead of what’s next.

At ABHFL, we’re not just responding to change—we’re architecting it. In doing so, we hope to inspire what responsible, digital-first housing finance can achieve—not just in India, but across emerging economies worldwide.

Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance Limited

84 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

ASIAN BANKING & FINANCE | Q4 2025 85

25

TAIWAN DOMESTIC RISK MANAGEMENT INITIATIVE OF THE YEAR

Far Eastern International Bank: Providing comprehensive cross-border financial services FEIB is creating a safer, trustworthy, and friendly financial transaction environment whilst guiding corporate clients to align with international trends in sustainable development.

F

ar Eastern International Bank (FEIB) is actively expanding into overseas markets and establishing a cross-border financial integration platform. With steady profit growth and good asset quality, Fitch Ratings has assigned FEIB an F3 short-term and BBB long-term credit rating. Since the opening of its Hong Kong branch in 2007, FEIB has successively established FEIB Financial Leasing Co., Ltd. in Shanghai through reinvestment in 2015, a representative office in Ho Chi Minh City, Vietnam in 2020, and another representative office in Singapore in 2021. These strategic moves reflect FEIB’s vision of supporting clients amidst global supply chain restructuring and the rising importance of ASEAN markets. By expanding its overseas presence, FEIB offers corporate clients not only financial services but also valuable regional insights.

International expansion FEIB Corporate Banking Group continues to strengthen its corporate financial services in Taiwan whilst advancing international expansion. The Hong Kong branch targets high-quality corporate clients in China and Hong Kong, offering a wide range of financial services, including deposits, loans, import and export financing, and financial transaction services. Meanwhile, leveraging its representative offices in Singapore and Ho Chi Minh City, FEIB Corporate Banking Group actively engages with the ASEAN market, building partnerships with financial institutions, state-owned enterprises, and corporations with international credit ratings.

It also plays a leading role in international syndicated loans and participates in financing projects led by major large-scale private equity funds and global investment institutions. Through international syndicated loans and cross-border financing services, FEIB has deepened its local operations and regional connectivity.

This strategy of integrating overseas locations into a cross-border financing platform has generated strong synergies after years of cultivation.

With a long-standing solid reputation amongst international banks and private equity funds, FEIB Corporate Banking Group has successfully expanded niche businesses such as cross-border financing, structured financing, and international syndicated 86 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

loans. In 2024, overseas profits accounted for 49% of FEIB Corporate Banking’s total profits. That same year, FEIB received the Merit Award under Taiwan’s Financial Supervisory Commission “Program to Incentivize Overseas locations of FEIB Lending by Domestic Banks to Enterprises in Target Countries of the New Southbound Policy."

Sustainable finance FEIB is also deeply committed to sustainable finance. FEIB Corporate Banking Group actively promotes ESG credit and sustainable deposits, guiding corporate partners toward green transformation and long-term development through sustainability-linked

FEIB Corporate Banking continues to strengthen its corporate financial services in Taiwan whilst advancing international expansion loans. In 2024, ESG credit balances reached NT$70.1b, with sustainability-linked loan balances also growing by 42%.

In addition, FEIB is a leading financial institution in Taiwan’s cryptocurrency trading market, serving as a custodian bank for major crypto exchanges.

Along with the rapid growth of cryptocurrency transactions, financial institutions face increasing compliance risks and regulatory scrutiny. Existing monitoring solutions, however, are inadequate. To address these challenges, FEIB Corporate Banking Group independently developed Taiwan’s first bank-specific Fiat-Crypto Currency Transaction Monitoring System.

This system incorporates big data analytics, real-time risk assessment, and automated anomaly detection to enhance regulatory, compliance, and risk management.

Implementing this system improves efficiency and accuracy in identifying transaction risks whilst effectively reducing legal and compliance exposure. At the same time, it strengthens the transparency and security of virtual currency transactions, providing a sound and healthy financial environment for Virtual Asset Service Providers (VASPs).

Standout financial services The success of this project highlights FEIB Corporate Banking Group‘s forward-looking application of financial technology, its robust risk management capabilities, and its role in driving the banking industry toward a healthier ecosystem. The project was also recognised with the Taiwan Domestic Risk Management Initiative of the Year award at the Asian Banking & Finance Wholesale Banking Awards 2025.

Looking ahead, FEIB Corporate Banking Group remains committed to providing professional, refined, and differentiated financial services to its clients. By recruiting and cultivating global financial talents, FEIB has built an elite cross-border service team with the vision of becoming the most professional corporate finance service provider in the Asia-Pacific region and a trusted partner in supporting clients to achieve sustainable finance.

ASIAN BANKING & FINANCE | Q4 2025 87

25

PHILIPPINES INTERNATIONAL FOREIGN EXCHANGE BANK OF THE YEAR SOUTH KOREA INTERNATIONAL TRADE FINANCE BANK OF THE YEAR TAIWAN INTERNATIONAL TRADE FINANCE BANK OF THE YEAR

Regional strength, global expertise: How is powering Asia’s trade and FX transformation As corporates across Asia Pacific face rising volatility and complexity, ING is delivering forward-looking financial solutions that blend local insight with global strength.

A

s global markets continue to navigate volatility, shifting supply chains, and rising sustainability demands, corporates across Asia Pacific are turning to banking partners that offer not only financial solutions but also strategic foresight. ING is delivering just that.

With decades of experience in foreign exchange (FX) and trade finance, ING’s teams across the region are helping clients navigate complexity with confidence. From real-time risk management and seamless cross-border financing to embedded ESG support, ING combines local insight with global strength.

This powerful blend earned ING three prestigious accolades at the Asian Banking & Finance Wholesale Banking Awards 2025, underscoring its leadership in some of Asia’s most dynamic markets.

ING Philippines: Expertise in FX solutions ING Philippines was awarded Philippines International Foreign Exchange Bank of the Year – a first-time win that highlights its ability to deliver advanced FX capabilities tailored to corporate needs.

Offering a full suite of FX products – from spot and forward transactions to structured products and long-tenor cross-currency swaps – ING delivers sector-specific, integrated FX strategies. These are complemented by advisory-led insights that help clients mitigate risk, manage cost, and respond to market volatility.

With market conditions continuing to shift, ING’s FX solutions have proven essential for clients across sectors such as infrastructure and energy, enabling agile management of currency exposures.

ING Taiwan: Leading in trade finance For the second consecutive year, ING was named Taiwan International Trade Finance Bank of the Year, recognising its consistent support for exporters and multinational corporates with cross-border working capital solutions.

ING provides trade loans, receivables finance, Letters of Credit, and supply chain financing, underpinned by digital platforms that streamline documentation and improve efficiency. These solutions enable clients to navigate evolving trade routes, regulatory pressures, and rising ESG requirements. This second-year win reinforces ING’s position 88 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Representing ING at the Asian Banking & Finance Awards Ceremony 2025 were (from left to right): Leo Tay, head of FX Rates and Derivatives Trading APAC; Sandra Liu, director, Working Capital Solutions, Transaction Services APAC; and Deric Lau, head of Working Capital Solutions, Transaction Services APAC

ING’s teams across the region are helping clients navigate complexity with confidence as a strategic partner in one of Asia’s most export-driven markets.

ING Korea: Three decades of market leadership Since its establishment in 1991, ING Korea has been a cornerstone of trade finance in South Korea.

Today, it stands amongst the largest international providers of trade finance services in the country, offering trade loans, refinancing, corporate guarantees, Banker’s Acceptances, and unfunded guarantees for non-bank institutions.

The launch of a securities branch in 2016 expanded ING’s reach into capital markets, strengthening its ability to serve Korean clients both locally and globally.

This enduring presence positions ING to support Korean corporates as they scale and diversify internationally.

A strategic platform across Asia Pacific These awards reflect ING’s broader strength across Asia Pacific. With operations in 11 markets in the region and a global footprint

spanning 35 countries, ING connects clients to global liquidity, digital tools, and sustainable finance strategies.

Its product and sector specialists work closely with clients across FX, Lending, Transaction Services and Capital Markets – guided by a sustainability-led approach.

In the first half of 2025, ING mobilised over EUR67.8b in sustainable finance, a 19% increase compared to the first half of 2024, meeting rising demand for financing aligned with net zero and ESG targets.

Whether enabling infrastructure investment in the Philippines, export growth in Taiwan, or regional diversification in Korea, ING continues to deliver practical solutions for today—and forward-looking strategies for tomorrow.

About ING ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING is empowering people to stay a step ahead in life and in business. ING’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.

In Asia Pacific, ING offers wholesale banking across 11 markets, namely Australia, China, Hong Kong SAR, India, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan, and Vietnam.

Understanding Brings Us Closer

With our reliable transaction banking services, we are committed to supporting you in cash management and trade finance to achieve your financial goals of optimizing working capital cycle and enhancing treasury efficiency.

Corporate Customer Service Hotline: (852) 3988 2288 | www.bochk.com

The above product(s) and service(s) provided by Bank of China (Hong Kong) Limited are subject to the relevant terms and conditions.

ASIAN BANKING & FINANCE | Q4 2025 89

25

STRATEGIC PARTNERSHIP OF THE YEAR - SINGAPORE SINGAPORE INTERNATIONAL CASH MANAGEMENT BANK OF THE YEAR SINGAPORE INTERNATIONAL GREEN FINANCING BANK OF THE YEAR

CIMB Singapore: Empowering business growth and financial aspirations Guided by customer-centricity, CIMB Singapore supports business growth through strategic cash management and accessible sustainable financing, and boosts personal financial confidence through initiatives like InsureXpo.

InsureXpo by CIMB CIMB Plaza

A

partnerships to develop mutually exclusive services and bundled product offerings. These initiatives are thoughtfully tailored to address customer needs both within and beyond conventional banking, delivering added value through ancillary benefits.

Strategic cash management with a customer-first mindset CIMB Singapore stays at the top of its game by continuing to commit to strategic cash management initiatives and customercentricity to enhance its clients’ banking experiences. In a recent survey conducted by CIMB Singapore amongst newly incorporated companies, the majority identified having a low-cost account or no fees as the most important factor when selecting a bank.

To meet this, the bank revised its CIMB SME Account’s monthly fee from SG$28 to SG$8. Coupled with its existing first-year monthly fee waiver benefit, free transactions for FAST, GIRO & Payroll, and no minimum balance or fall-below fees, this move positions the account as one of the lowest-cost options in the industry.

CIMB is also committed to assigning a relationship manager to every customer for personalised business assistance.

Beyond streamlining the business account application process to just 15 minutes, CIMB Singapore has also enhanced its Online Business Current Account (OBCA) platform.

Clients can now seamlessly opt in for internet banking and access a suite of beyond banking services, including digital, medical, and HR solutions. Leveraging the bank's strong ASEAN footprint, the bank also waived crossborder telegraphic transfer fees for its clients who initiate or receive international payments within the CIMB Group’s global network.

CIMB Singapore actively pursues strategic

Finance solutions for a greener future With an eye toward offering customers more impactful sustainable finance solutions, CIMB Singapore ramped up efforts to work with non-retail clients through green finance and sustainability-linked finance transactions.

Guided by the CIMB Group’s Green, Social, Sustainable Impact Products and Services framework, the bank entered into multiple notable deals in 2024.

In 2024, CIMB Singapore launched the SME Sustainability-Linked Loan/Financing (SME SLL/SLF) Programme to empower SMEs with easier access to sustainable financing and provide them support to attain credible greenhouse gas (GHG) emission reduction.

Traditionally, sustainability-linked financing has been complex and costly due to the highly bespoke targets and the high costs attributed to carbon accounting and verification.

With the SME SLL/SLF Programme, CIMB Singapore is changing the game. They have created a simplified, cost-effective solution that aligns with the globally recognised Sustainability-Linked Loan Principles set out by the Loan Market Association.

Recognising that SMEs may lack resources and are looking for simpler ways to access SLL/SLF opportunities, the CIMB SME SLL/ SLF Programme is designed to be simple and self-directed, which means the client is always in control. The experience is also fully digital, complemented by the bank’s online business account opening process.

Additionally, all participants will be awarded the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal

s competition intensifies due to regional integration and technological advancements, banks have to continuously adapt by focusing on innovation, digital experiences, and sustainability to meet unique customer needs to maintain their edge.

90 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Badge, enhancing recognition and visibility of their sustainability efforts amongst potential customers, investors, and financiers.

For its achievements, CIMB Singapore was recognised at Asian Banking & Finance Wholesale Banking Awards 2025 with two top prizes—Singapore International Cash Management Bank of the Year and Singapore International Green Financing Bank of the Year.

Empowering financial confidence Meanwhile, CIMB sought to empower Singapore residents to achieve financial independence through InsureXpo by CIMB. The event, which concluded on 12 April 2025, served as a platform for individuals to exchange strategic insights and make meaningful connections.

It featured a series of talks and panel discussions on personal finance topics. These sessions were designed to educate and empower individuals in building economic and financial resilience for a more secure future.

Quadrupling the number of attendees from last year, the 2025 InsureXpo brought together leading industry experts from insurers Singlife, FWD, Income and AIA, as well as community partners like Central Provident Fund (CPF) Board, Singapore Police Force, Mindline (by Ministry of Health) and National Youth Council.

This effectively sets the stage for Singaporeans to elevate their financial knowhow and become more confident in navigating their financial future.

In addition to InsureXpo, CIMB Singapore released the “CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025” in collaboration with the Nanyang Centre for Marketing and Technology. Capturing insights from over 500 Singapore residents aged 26 to 60, the report enabled CIMB Singapore and other financial service providers to understand the unique challenges faced by customers across different life stages.

This collaboration also highlights the strength of academia-industry partnerships in translating rigorous academic research into actionable insights for the business world. For these initiatives, CIMB Singapore took home Strategic Partnership of the Year - Singapore at the Asian Banking & Finance Retail Banking Awards 2025.

ABF WHOLESALE BANKING AWARDS 2025

Your Trusted Partner in

GREEN FINANCE

Together, A Better Life.

ASIAN BANKING & FINANCE | Q4 2025 91

25

HONG KONG INTERNATIONAL CORPORATE LIQUIDITY MANAGEMENT BANK OF THE YEAR

ICBC (Asia) wins Hong Kong International Corporate Liquidity Management Bank of the Year ICBC (Asia) continues to empower multinational corporations through innovative, customised treasury solutions backed by ICBC’s global network and infrastructure.

A

s the preeminent international flagship of Industrial and Commercial Bank of China Limited (ICBC) and a Hong Kong Domestic Systemically Important Bank (D-SIB), Industrial and Commercial Bank of China (Asia) Limited (“ICBC (Asia)”) provides enterprises and institutional clients across industries with comprehensive cross-border banking solutions. ICBC (Asia) has currently established Transaction Banking business model encompassing seven major corporate product lines: cash management, trade finance, payment and clearing, financial markets, digital finance, asset custody, and asset management. By offering multi-channel access through both online and offline platforms, including corporate online banking, corporate mobile banking, API, SWIFT, and blockchain solutions, ICBC (Asia) has been supporting corporates in enhancing their business efficiency and financial profitability.

Global Cash Management services Leveraging ICBC's robust technological infrastructure for product innovation and system enhancement, ICBC (Asia) delivers Global Cash Management services in four primary categories: Account Management, Payments & Collections, Liquidity Management, and Fund Management. Within this framework, the Bank pioneered and refined four specialised service lines—Global Inquiry, Global Pay, Global Pooling, and Global Investment—serving over 5,900 corporate clients. At present, ICBC (Asia) possesses

92 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

alongside an internal fund transfer pricing mechanism, making it particularly suitable for multinational corporations with global operations. The Bank designs customised liquidity management solutions carefully tailored to specific corporate operational requirements, thereby reducing external financing costs as well as enhancing global capital utilisation efficiency.

Ms Duan Mengche, Assistant Chief Executive of ICBC (Asia)

‘We leveraged ICBC Group’s worldwide network to provide end-to-end services spanning preparation, establishment, and operation’ a comprehensive suite of global pooling products that provide enterprises with one-stop cross-border cash management solutions. This integrated service combines both “physical pooling” and “notional pooling,” supports over 10 major currencies, allows clients to establish up to a nine-tier corporate account structure based on management needs, and features a 4-level multitiered payment linkage system to meet flexible configuration requirements for headquarters and subsidiary accounts.

Additionally, it incorporates intelligent fund sweeping and allocation capabilities

Excellence recognised ICBC (Asia)'s commitment to delivering customised and diversified global cash management solutions has earned market recognition and positive client feedback. This dedication was recently acknowledged through the award of Hong Kong International Corporate Liquidity Management Bank of the Year at the Asian Banking & Finance Wholesale Banking Awards 2025. The recognition underscores market validation of ICBC (Asia)'s service capabilities and achievements in helping corporate clients establish fund pools, optimise cash flow, manage liquidity risks, and maximise investment returns within the global cash management domain.

Ms Duan Meng Che, Assistant Chief Executive of ICBC (Asia), stated: “We are honoured to receive the Hong Kong International Corporate Liquidity Management Bank of the Year award. ICBC (Asia) has proactively optimised our global cash management product ecosystem, launching tailored enterprise solutions including Notional Cash Pooling Service, China-Africa Direct Connection, and Cross-Border Salary Remittance to address specific client needs. By assisting corporate clients in establishing cash pools, optimising cash flow, and managing liquidity risks, we enhanced their company investment returns. For those which are establishing treasury centres in Hong Kong to centralise global fund allocation, we leveraged ICBC Group’s worldwide network to provide end-to-end services spanning preparation, establishment, and operation, and therefore empowered clients to expand their local and global footprint. Moving forward, we will continue refining our products and services to deliver superior client experiences.”

ASIAN BANKING & FINANCE | Q4 2025 93

EVENT: FINTECH AWARDS 2025

Top fintech leaders honoured at Asian Banking & Finance Fintech Awards 2025

I

n a showcase of groundbreaking innovation and excellence in financial technology, the Asian Banking & Finance Fintech Awards 2025 once again celebrated the most outstanding companies and initiatives redefining the future of fintech in Asia.

Hosted by Asian Banking & Finance, the prestigious awards programme, brought together key industry leaders and innovators for a night of recognition at the Awards Dinner held on 8 July 2025 at the Marina Bay Sands Expo & Convention Centre in Singapore.

The awards spotlighted the most impactful advancements in financial technology, recognising companies that are transforming the way financial services are delivered and experienced. It highlights

those making meaningful contributions through innovation, customer-centric solutions, and forward-thinking strategies.

The esteemed panel of judges who shared their expertise in evaluating this year’s nominees consisted of Kevin Kwek, Partner, South East Asia Head, Financial Institutions Group, Kearney; Saurabh Dhingra, Asean Financial Services Strategy Leader, EYParthenon; Wanyi Wong, Fintech Leader, Financial Services Partner, PwC Singapore; and Ben Clemens Balzer, Partner and FS / Fintech x Private Equity Leader in APAC, Bain & Company.

Congratulations to all the winners for their standout achievements in the industry!

ABF FINTECH AWARDS 2025 WINNERS

Fubon Financial Holding Co. • AI-Powered Analytics Award - Taiwan

ACLEDA BANK PLC • Payments Solution Award - Cambodia

Hang Seng Bank • Digital Banking Award - Hong Kong • Mobile App Award - Hong Kong

ADITYA BIRLA CAPITAL DIGITAL LIMITED • Mobile App Award - India Alaqan Technologies • New Fintech Product Award - Kazakhstan Arab Financial Services • Payments Solution Award - Bahrain • Payments Solution Award - Egypt BPC • Mobile App Award - Cambodia • Financial Inclusion Award - Vietnam

HSBC • Payments Solution Award - Philippines iFAST Financial (HK) Limited • Ecosystem Collaboration Award - Hong Kong • Financial Inclusion Award - Hong Kong IntelliTrade Ltd • WealthTech Initiative Award - Israel IronOne Technologies • Fintech Initiative Award - Sri Lanka

Broadridge Financial Solutions • Blockchain Innovation Award - India

KASIKORNBANK PCL • Sustainable Fintech Award - Thailand

Cathay United Bank • Customer Experience Solution Award - Taiwan • Mobile App Award - Taiwan

KBZ Bank • Ecosystem Collaboration Award - Myanmar

CIBI Information, Inc. • Financial Inclusion Award - Philippines

Kredit Hero, Inc • LendTech Initiative Award - Philippines • SME Solution Award - Philippines

Citibank Singapore Limited • Digital Banking Award - Singapore

Lendela • LendTech Initiative Award - Singapore

CredAble • Financial Inclusion Award - India

Libertify APAC • Fintech Start-up Award - Hong Kong • New Fintech Product Award - Hong Kong

CTBC Bank • Digital Banking Award - Taiwan • Digital Currency Award - Taiwan

Longbridge Securities • Fintech Initiative Award - Singapore

F88 • Mobile App Award - Vietnam

M-DAQ Global • Enterprise Payments Award - Singapore

Fiduciary Securities (HK) Limited • AI-Powered Analytics Award - Hong Kong

Nabil Bank Limited • Cybersecurity Innovation Award - Nepal

Finastra • Digital Banking Award - Philippines

One 97 Communications Ltd (Paytm) • New Fintech Product Award - India

Fingular • Financial Inclusion Award - Singapore

Orbix INVEST Co., Ltd. • WealthTech Initiative Award - Thailand

94 ASIAN BANKING & FINANCE | Q4 2025

FINTECH AWARDS 2025

Palawan Group of Companies • Fintech Initiative Award - Philippines

Tookitaki Holding Pte Ltd • AI-Powered Analytics Award - Singapore

Posidex Technologies • LendTech Initiative Award - India

United Bank Limited (UBL) • Digital Banking Award - Pakistan • Mobile App Award - Pakistan

Premium Technology • SME Solution Award - Malaysia • Trade Finance Platform Award - Malaysia ProgressSoft Corporation • Digital Identity Verification Award - Jordan • Payments Solution Award - Jordan PT Bank Mandiri (Persero) Tbk • Customer Experience Solution Award - Indonesia Remote • PayTech Initiative Award - Hong Kong Silent Eight • RegTech Initiative Award - Singapore Singlife Philippines • Customer Experience Solution Award - Philippines • Mobile App Award - Philippines • New Fintech Product Award - Philippines SUNRATE • PayTech Initiative Award - Singapore

Uno Digital Bank • PayTech Initiative Award - Philippines Vasu International Payment Solutions Inc. PH • Enterprise Payments Award - Philippines Vattanac Bank • Cybersecurity Innovation Award - Cambodia Vaultavo Quantum Ltd • Blockchain Innovation Award - Hong Kong Viettel Money - Viettel Digital • New Fintech Product Award - Vietnam VNPAY • Blockchain Innovation Award - Vietnam • Ecosystem Collaboration Award - Vietnam Worldpay • Payments Solution Award - Australia XTransfer • Payments Solution Award - China

THAI DIGITAL PLATFORM SOCIAL ENTERPRISE COMPANY LIMITED. • AI-Powered Analytics Award - Thailand YouBiz • SME Solution Award - Singapore Thunes • Payments Solution Award - Singapore YouTrip • Fintech Start-up Award - Singapore TNEX • Fintech Start-up Award - Thailand • LendTech Initiative Award - Vietnam

Broadridge Financial Solutions

CIBI Information, Inc.

Citibank Singapore Limited

F88 ASIAN BANKING & FINANCE | Q4 2025 95

EVENT: FINTECH AWARDS 2025

Finastra

Libertify APAC

M-DAQ Global

Premium Technology

SilentEight

VNPAY 96 ASIAN BANKING & FINANCE | Q4 2025

Longbridge Securities

Singlife Philippines

SUNRATE PTE LTD

Vaultavo Quantum Ltd.

Worldpay

FINTECH AWARDS 2025

Celebrated for Excellence, Innovation & User Experience Best Mobile App India @ Asian Banking & Finance Fintech Awards 2025 Best in class User Friendly Interface Fintech App Finest Fintech Solutions @ Global Fintech Festival 2024 Ecosystem Initiative of the Year Infinite initiative @ Asian Banking & Finance Retail Banking Awards 2024

ASIAN BANKING & FINANCE | Q4 2025 97

FINTECH AWARDS 2025

CUSTOMER EXPERIENCE SOLUTION AWARD - PHILIPPINES MOBILE APP AWARD - PHILIPPINES NEW FINTECH PRODUCT AWARD - PHILIPPINES

Singlife Plan & Protect App: Reimagining financial services, empowering financial independence In an era where convenience, accessibility, and personalisation shape the way people manage their money, one homegrown player is setting a new standard—not just amongst life insurers, but across the digital finance space.

Lester Cruz, Chief Executive Officer, Singlife Philippines

L

aunched in 2023, the Singlife Plan & Protect App from Singlife Philippines has evolved beyond its insurance roots to become an all-in-one financial partner for everyday Filipinos. The app recently won Mobile App Award - Philippines at the 2025 Asian Banking & Finance Fintech Awards, and it played a key role in two other categories: Customer Experience Solution Award - Philippines for Singlife’s fully digital protection journey and New Fintech Product Award - Philippines for Income Multiplier, an investment-linked insurance plan that delivers monthly cash payouts and is available exclusively in the app.

“We’ve always believed that insurance should do more than pay out in times of loss—it should help you build a secure future whilst you’re living it,” said Lester Cruz, Chief Executive Officer of Singlife Philippines. “The Singlife Plan & Protect App is our way of putting that belief into every Filipino’s hands.”

Encouraging financial independence From the outset, Singlife’s goal was not merely to digitise insurance but to reinvent the experience: remove paperwork, unnecessary fees, and tedious processes. Over time, the app has added capabilities that now rival those of top digital banks and e-wallets whilst staying true to its mission of empowering Filipinos toward financial independence.

Three strengths define the platform: comprehensive financial protection, highvalue returns, and continuous innovation.

Users can access flexible insurance solutions—covering medical costs, income loss, and funeral expenses—alongside investment-linked plans that can be tailored to different life stages and budgets. A built-in 98 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

smart planner helps users track goals, identify coverage gaps, and receive actionable insights.

The app also lets users send and receive Singlife Gift Cards, which convert to Singlife Credits—digital rewards customers can use in the app. Singlife Champion, the brand's referral programme, rewards advocates with Singlife Credits, whilst new users receive welcome credits, helping jumpstart their financial journey. Policy management and transactions are accessible in real time, in just a few taps.

Another powerful feature is the Singlife Account, where customers hold funds for premium payments and payouts. When a policy is active, balances in this account earn 5% p.a. net interest, credited monthly. Through the Super Boost Rewards Program, customers who build and maintain a stronger financial protection portfolio can earn up to 15% p.a. net interest,* a meaningful way to reward proactive financial behaviour.

'Make it simple, make it meaningful, and make it matter' Offering solutions to real problems Singlife Philippines’ pace of development continues to push the category forward.

In just the first half of 2025, the company introduced credit and debit card cash-ins and payment options; free, instant transfers between Singlife Accounts; and industry-first cash-outs to any bank or e-wallet through an online payment gateway. An instant access mode now lets prospective users explore the product lineup before creating an account.

The company also launched Protect from Funeral Costs, a whole life insurance plan with a built-in Financial Needs Analysis tool that helps users estimate and plan for funeral expenses based on their preferences.

“It’s not just about adding features; it’s about solving real problems,” Cruz noted.

“We’re designing tools that are useful from day one, especially for first-time customers

who may not know where to begin.”

As of July 2025, the Singlife Plan & Protect App has been installed more than 1.4 million times, supporting over 1 million policies sold and around PHP100m in claims issued since Singlife Philippines began operations in 2020. The company also holds a 4.6 out of 5 TrustScore on Trustpilot based on over 7,000 five-star reviews, alongside a 97% customer satisfaction score in 2024.

More enhancements are on the way, including simplified claims filing, improved beneficiary management, and new product offerings, solidifying the app’s position as a leading digital finance platform.

“Insurance shouldn’t be just for emergencies or for a select demographic; it should be a tool anyone can use to plan, build, and protect their future,” said Cruz. “Make it simple, make it meaningful, and make it matter. That’s what we set out to do with the Singlife Plan & Protect App.” *Terms and conditions apply.

About Singlife Philippines Singlife Philippines (a subsidiary of Singlife Singapore) is a mobile-first life insurance company. Singlife Singapore is wholly owned by one of Japan’s largest life insurers, Sumitomo Life.

Singlife was founded to provide a better way to financial independence. The company uses modern technology to provide insights, guidance, and fulfillment via mobile devices to open opportunities for every Filipino to get the right financial solutions to fit their needs and budget. Singlife supports its clients to ensure money is there when needed, whether for emergencies, loss of income, high medical bills, or to grow funds for future goals

A better way to financial independence

New FinTech Product Award Philippines

Mobile App Award Philippines

Customer Experience Solution Award Philippines

Singlife Philippines

Singlife Philippines

Singlife Philippines

Download and create an account in the Singlife Plan & Protect app to learn more.

ASIAN BANKING & FINANCE | Q4 2025 99

FINTECH

MOBILE APP AWARD - VIETNAM

AWARDS 2025

My F88: Bridging the financial gap for Vietnam’s underserved population F88 is revolutionising Vietnam’s alternative finance sector through a “phygital” model that blends nearly 900 physical locations with its My F88 mobile app, delivering fast, transparent credit to underserved communities.

W

ith a pioneering “phygital” model integrating digital technology and an expansive physical network, F88 is redefining how alternative financial services can serve everyday Vietnamese people. At the heart of this model is My F88 - a mobile application recently honoured as Mobile App Award - Vietnam by Asian Banking & Finance Fintech Awards 2025.

Since launching in January 2025, My F88 has provided fast, transparent, and responsible credit access to millions of underserved citizens across the country.

A large yet overlooked market According to a recent EY report, 87% of Vietnamese adults have a bank account.

However, many still struggle to access formal credit. The study found that 42% of low-income and vulnerable individuals had used informal lending channels—such as borrowing from acquaintances or unlicensed lenders—in the past year. These methods often carry high costs and significant risks.

This indicates that a large segment of the population remains excluded from traditional lending channels. Many of these individuals are informal workers with limited savings who need emergency financial support for healthcare, education, or family matters. Historically, their only options were pawnshops or black-market lenders, which often lack transparency and safety. In recent years, licensed alternative financial service providers like F88 have emerged as safer, more trusted options.

Founded in 2013, F88 operates nearly 900 stores nationwide, offering secured loans and insurance services. With a licensed, risk-managed business model

Mr Pham Thanh Tung, representing F88, received the Mobile App Award - Vietnam award at Asian Banking & Finance Fintech Awards 2025

100 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

F88 operates nearly 900 branches nationwide and is a leading player in Vietnam’s alternative financial services market

supported by digital technology, F88 delivers fast, safe, and transparent financial solutions. According to FiinGroup, F88 is a market leader in Vietnam’s alternative finance sector. Yet even with rapid growth, companies like F88 currently capture just over 3% of the pawn lending market— highlighting the vast potential still untapped.

My F88 creates a phygital bridge that brings alternative finance closer to more people

Technology as a catalyst for inclusion One major challenge in unlocking this market is accessibility – especially for consumers in remote or time-constrained environments.

However, this dynamic is rapidly shifting.

Since its launch, My F88 has emerged as a fully functional digital gateway to F88’s comprehensive financial services, extending beyond a mere mobile app.

Users can register a loan, sign contracts electronically, make repayments, view transaction history, receive payment reminders, and access terms – all directly

on their phones, anytime, anywhere. Preapproved customers can even disburse funds instantly within their credit limit, empowering them with greater control over their finances without the need for inperson interaction.

Combined with F88’s nationwide physical network, My F88 creates a phygital (physical + digital) bridge that brings alternative finance closer to more people – especially those in rural or low-tech areas. It ensures that even those left out by traditional banks can still participate in Vietnam’s digital transformation in financial services.

The numbers speak for themselves.

Within just six months of launch, My F88 surpassed 100,000 users with active transactions. The company isn’t stopping at loans. F88 plans to evolve My F88 into a full-fledged financial platform for the underbanked – potentially adding services such as insurance and even buy now, pay later (BNPL) solutions.

F88’s recognition by Asia Banking & Finance is not merely a tech accolade.

It affirms the company’s long-term, responsible, and visionary approach to market development. By combining innovation with social responsibility, F88 is building trust with both customers and investors—and paving the way for impactful partnerships in the future.

VAULTAVO: ENGINEERING THE FUTURE OF DIGITAL ASSET CUST ODY Winner of the Blockchain Innovation Award – ABF FinTech Awards 2025

A

t the 2025 Asian Banking & Finance FinTech Awards, held at Singapore’s iconic Marina Bay Sands, Vaultavo was named the recipient of the Blockchain Innovation Award – Hong Kong — a landmark recognition placing the company at the forefront of blockchain infrastructure innovation.

based MPC, traditional custody approaches have failed to keep pace with institutional demands or evolving regulation.

While the digital asset space is flooded with noise, Vaultavo delivers something rare: true invention. Its technology doesn’t just iterate — it rewrites the rulebook. Vaultavo has developed a fully biometric, hardware-based custody platform that secures digital assets at a level most institutions never imagined — until now.

The Vaultavo Breakthrough: Segregation at the Hardware Level

Launched in 2022, Vaultavo has moved with deliberate precision, building an enterprisegrade platform grounded in institutional security and regulatory readiness. Previously named a top finalist in Accenture’s FinTech Innovation Lab Asia-Pacific, Vaultavo has since drawn interest from leading banks, tokenization platforms, and exchanges worldwide.

Vaultavo offers a fundamental shift: custody architecture where control, compliance, and confidence are engineered into every layer.

Vaultavo’s innovation starts — and differentiates — at the hardware level. Its globally patented custody system features: Biometric smartcards replacing PINs and passwords with your fingerprint A quantum-ready HSM vault with 100,000+ segregated secure elements Offline private key storage, immune to software exploits Configurable access for shared, private, and institutional custody models This delivers what the market has long needed: a custody solution that’s PIN-free, co-mingling-free, and compromise-free.

At Vaultavo, we believe security should be seamless, sovereign, and scalable,” said Philip Meyer, CEO of Vaultavo.

“We’ve built a patented biometric infrastructure where the private key is not a line of code — it’s you.”

Plilip Meyer, Vaultavo C0-Founder & CEO

$10 Trillion Market With a $40 Billion Security Problem

Tokenization is reshaping the digital economy, with the market expected to hit $10 trillion by 2030. But as capital surges, vulnerabilities deepen. In 2024 alone, cybercrime erased over $40 billion in value — mostly from weak key management and centralized failures.

From scribbled seed phrases to software-

Engineered from the ground up, Vaultavo meets the compliance, operational, and fiduciary standards demanded by modern financial institutions — especially those building for tokenization and CBDCs.

Manufacturing Trust — With CardLab at the Core

Bringing Vaultavo’s vision to life required elite engineering precision — which is why we partnered with CardLab, one of the world’s most trusted names in biometric smartcard innovation. With a legacy of excellence in secure identity and fintech hardware, CardLab co-engineered our flagship custody card to meet the uncompromising demands of global financial institutions.

Each device combines EAL6+ certified secure elements, a next-gen E-Ink display, and multi-modal connectivity (USB-C, contactless, Bluetooth) — forming a sovereign identity key, biometric wallet, and transaction authorizer - all in one.

Backed by CardLab’s manufacturing pedigree, Vaultavo delivers custody hardware that sets a new global standard for security, compliance, and control.

Not Just a Win — A Watershed Moment This award is more than recognition — it’s validation from Asia’s top financial minds that a new custody standard is here.

With operations expanding across Asia, Africa, Europe, and the Americas, Vaultavo will soon be enabling banks, hedge funds, and infrastructure providers to operate with greater clarity, control, and confidence.

“This award underscores the urgency of our mission: empowering institutions, businesses, and individuals to own and protect their digital assets with confidence,” said Meyer.

The message is clear: the era of fragile key management is over. Vaultavo doesn’t just protect digital assets — it liberates ownership, strengthens compliance, and future-proofs infrastructure in a changing regulatory world.

To regulators, to financial leaders, to every institution stitching together custody workarounds — Vaultavo is here to change the standard.

Backed by

ASIAN BANKING & FINANCE | Q4 2025 101

FINTECH

REGTECH INITIATIVE AWARD - SINGAPORE

AWARDS 2025

maintaining precision.

Martin Markiewicz, CEO & Founder, Silent Eight

Silent Eight at the Asian Banking & Finance Fintech Awards 2025

From hype to high stakes

By Martin Markiewicz, CEO & Founder, Silent Eight

W

hen I founded Silent Eight almost a decade ago to offer AI-driven endto-end financial crime compliance solutions, not many people understood what we were doing – or why. Artificial intelligence was not the buzzword it is today. In fact, most people I spoke to then, including people inside financial institutions, saw it as something vaguely futuristic or a tech novelty with little practical application.

Fast forward to today and AI is everywhere.

Suddenly, what I’ve been working on for years makes perfect sense to people. The mainstream has caught up, but the truth is that building high-performance AI for high-stakes environments was never about catching trends, not for Silent Eight anyway.

structured data that is specific to the domain the model is being trained for. We weren’t going to build another generic machine learning tool. We were going to build a platform that could act with the diligence and consistency needed to be able to support the work of human compliance analysts. So we went to the banks – the ones with the data.

Eventually, global financial institutions started to believe in our vision: that by working together, we could build AI models that replicated analyst reasoning, dramatically scaled operations, and reduced false positives. That belief led to some of our earliest and most valued partnerships with large global banks including HSBC, Standard Chartered, and others.

Not all AI is created equal AI models are only as good as the data and purpose they are trained for. Whilst large language models can produce fluent text, they are not inherently reliable where the cost of being wrong is high. Giving you the wrong capital city might be embarrassing; flagging the wrong transaction in a sanctions investigation, or worse, missing a real threat, could cost lives and billions of dollars.

That’s why one-size-fits-all AI doesn’t work for high-performance use cases like financial crime compliance. These environments demand not just intelligent systems.

They require trustworthy, auditable, and explainable ones.

Training models that perform – every time What does it take to train an AI model that performs reliably in high-stakes compliance environments?

First: high-quality labelled data. Each alert must be correctly classified as a true positive, false positive, or uncertain case – over and over again – so the model can learn to generalise accurately.

Second: scale. We built our models on millions of alerts across languages and jurisdictions so we were able to eventually use pretrained datasets for our new customers, often with only fine-tuning needed.

Name screening is a great example of complexity in action. To match names across Arabic, Cyrillic, Chinese, and other non-Latin scripts, we identify each name’s linguistic family and apply tailored sub-models.

That’s how we reduce false positives whilst

The data behind the intelligence When we started Silent Eight, I knew our success would hinge on data – clean, well102 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Fair, transparent, and always evolving From day one, we embedded fairness into our model design. We exclude sensitive or potentially biased attributes and use proprietary toolkits to monitor and document model behaviour.

Every bias test we run is captured in a transparent, regulator-ready risk report.

Then, there’s explainability. Every decision our system makes (true match, false match, uncertain) is accompanied by a clear, plain human-language justification. These aren’t black-box decisions. They are traceable, auditable, and aligned with the governance frameworks of our clients, many of whom are some of the world’s largest banks.

We also monitor the model checking for data drift, making sure they’re incorporating new sanctions lists or regulatory shifts.

Our models are constantly evaluated and retrained as needed.

What comes next Our mission was honoured with the 2025 Asian Banking & Finance FinTech Award for RegTech Initiative Award - Singapore, a milestone that reaffirms everything we’ve been working toward. It’s a recognition not only of our technology but also of our purpose: to make financial institutions faster, safer, and more resilient in the face of growing compliance pressure.

With Iris, our Agentic AI platform, we’re enabling banks to accelerate time to resolution across the financial crime life cycle – cutting investigation times by up to 70% whilst maintaining 100% precision in alert resolution. This award is not just a moment of pride for our team, it’s validation that the right kind of AI, built with transparency and trust at its core, is no longer a vision. It’s here, it’s working, and it’s been making a real-world impact for nearly a decade.

Silent Eight is a global RegTech company founded in 2013, with offices in Singapore, New York, London and Warsaw, and a mission to transform financial crime compliance through practical, scalable AI. Trusted by Tier 1 banks like HSBC and Standard Chartered, its co-founders Martin Markiewicz, Michael Wilkowski, and Julia Markiewicz, developed the proprietary platform Iris to automate complex investigations with real-time, explainable decisions.

From day one, we embedded fairness into our model design

Best Trade & Supply Chain Finance Platform 2025

Trade Finance Platform Award 2025, 2024

SME Solution Award 2025

B EST T R A DIN G I N FR A ST R U C T U R E PR OV IDER

A L T ERNATIVE RF PL A T FORM O F THE YEAR

BEST D YNAM IC D ISCO UNTING SO LUTIO N

SUP P LY CHAIN EXCELLENCE AWARD

2025 , 2024 , 2023

2024

2024

2023

The Global Standard in Supply Chain and Trade Finance

Visit our website: www.PremiumIT.com Contact us: info@PremiumIT.com

ASIAN BANKING & FINANCE | Q4 2025 103

FINTECH

BLOCKCHAIN INNOVATION AWARD - VIETNAM ECOSYSTEM COLLABORATION AWARD - VIETNAM

AWARDS 2025

Vietnamese Fintech Leader VNPAY Honored with Dual Wins at 2025 Asian Banking & Finance Fintech Awards

Ms. Nguyen Thi Thu Huong, the key leader of VNPAY App

V

ietnamese fintech leader VNPAY has been recognized with two prestigious awards at the 2025 Asian Banking & Finance (ABF) Fintech.

These mark a significant milestone in the company's commitment in innovation and collaboration to redefine Vietnam's digital finance landscape. VNPAY’s dual wins include Blockchain Innovation and Ecosystem Collaboration.

Driving Security and Trust Through Blockchain Technology At the heart of VNPAY’s success is its flagship product, VNPAY App, an all-in-one e-commerce platform that has become an essential part of daily life for over 10 million Vietnamese users. Far beyond a payment tool, VNPAY Appintegrates a wide range of services, including bill payments, mobile top-ups, shopping, transportation, ticketing, and ride-hailing—all within a single, user-friendly platform.

The Blockchain Innovation award recognizes VNPAY’s strategic application of blockchain technology to improve security, transparency, and operational efficiency. By integrating blockchain into its core infrastructure, VNPAY has enhanced transaction integrity and data trust, particularly in peer-to-peer and cross-platform payments. These technological foundations are not only critical for reducing fraud and building consumer confidence but also establish the groundwork for future expansion into decentralized finance solutions.

104 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

Building an Interconnected Financial Ecosystem for the Digital Era Meanwhile, the Ecosystem Collaboration award highlights VNPAY’s vision for an open, interoperable financial ecosystem.

VNPAY has built an open platform, connecting hundreds of partners across sectors such as transportation, travel, entertainment, e-commerce, healthcare, insurance, education, and public services.

This enables the app to deliver a wide range of services while fostering an interactive ecosystem where users, businesses, and financial institutions can engage and co-create value.

In particular, by diversifying payment methods from e-wallets to bank accounts, domestic/ international cards, Apple Pay, and short-term financing, VNPAY can expand its user base and build a flexible and comprehensive payment space beyond traditional customer segments.

Innovation at VNPAY goes beyond financing and e-commerce solutions. The company has launched cutting-edge features such as VNTAP, which converts smartphones into NFC-enabled payment terminals, replacing physical cards for contactless transactions. In parallel, the VNPAY TAXI feature connects users to over 40,000 taxis nationwide, streamlining

transportation bookings within a single app. These services reflect VNPAY’s mission to simplify everyday life while embedding convenience into every transaction.

Ms. Nguyen Thi Thu Huong, the key leader of VNPAY App, sees the ABF awards as both an honor and a motivation to continue advancing. “Our mission has always been to simplify life for Vietnamese families through technology”, Ms. Nguyen Thi Thu Huong shared. “These recognitions affirm our approach and encourage us to push further in delivering secure, inclusive, and convenient financial solutions to our users.”

As Vietnam accelerates toward a digital-first economy, VNPAY is poised to be at the forefront of this transformation.

Its achievements in blockchain and ecosystem collaboration signal more than just technological success - they reflect a deep understanding of market needs, a commitment to inclusive growth, and a roadmap for scalable innovation. In redefining the digital wallet experience and fostering financial access across the country, VNPAY is driving Vietnam’s cashless and digital future.

PhonePOS

CỔNG THANH TOÁN

VNPAY partners with over 40 banks and domestic and international payment organizations to develop a wide range of payment services, notably Mobile Banking, Omni Channel for both individuals and businesses, eKYC - Online Customer Identification, Biometric Technology, Soft OTP Authentication Technology and other solutions that cater to the transaction demands of over 60 million customers. VNPAY connects with thousands of businesses and suppliers to build the ecosystem within the Mobile Banking applications and VNPAY app that fulfills customers' daily needs. Supplying the service to over 350,000 enterprises, VNPAY delivers exemplary payment solutions and services, such as: Online Payment Gateway, VNPAY-QR, VNPAY-POS, VNPAY-PhonePOS, VNPAY B2B, VNPAY- Invoice…

VIETNAM'S BEST

DIGITAL FINANCIAL PLATFORM

Made intuitive for elevated experiences.

Made for wealth. The Citi Mobile® App. A Diversified Portfolio Access a wider range of financial solutions and partner with wealth experts as an Accredited Investor*.

A Personalized Wealth Journey Stay in the know with a curated Digital Library or keep track of the funds that matter most to you via Watchlists — so you're always ahead.

Seamless Global Possibilities Travel like a global citizen but pay like a local wherever you go, and get access to investment opportunities worldwide. *For more information on being an Accredited Investor with Citi, visit www.citibank.com.sg/aiwithciti.

The products and services mentioned are not offered to individual residents in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man, the UK, Brazil, New Zealand, Jamaica, Ecuador, Sri Lanka or Peru. This material is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the promotions, products and services mentioned therein to such individuals. © 2025 Citibank Singapore Limited. Citi, Citibank, Citi and Arc Design, and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world. Citibank Singapore Limited Co. Reg. No. 200309485K.

ASIAN BANKING & FINANCE | Q4 2025 105

FINTECH

FINANCIAL INCLUSION AWARD - PHILIPPINES

AWARDS 2025

CIBI Information, Inc. wins Asian Banking & Finance Award for advancing financial inclusion The accolades are in recognition of CIBI’s innovative Advanced Tier (AT) platform, enabling broader access to credit and transforming lives across the country.

I

n today’s rapidly evolving financial landscape, ensuring that no one is left behind is more than a responsibility—it is a mission. At the 2025 Asian Banking & Finance Fintech Awards, CIBI Information, Inc., the Philippines’ pioneering local credit bureau, was recognised with the prestigious Financial Inclusion Award - Philippines. CIBI is the sole recipient of this award from the Philippines, reaffirming its pioneering role in shaping a more inclusive credit and financial ecosystem.

A milestone in financial inclusion For over four decades, CIBI has played a pivotal role in the Philippine financial sector.

From its beginnings under the Central Bank of the Philippines (now Bangko Sentral ng Pilipinas) in 1982 to its present role as the country’s first and only local credit bureau accredited by the Credit Information Corporation (CIC), CIBI has remained steadfast in its mission: empowering individuals and businesses through access to credit data and financial services.

The recognition at the awards programme highlights CIBI’s most recent innovation, the Advanced Tier (AT) platform, which has broken barriers in credit reporting and expanded access to millions of underserved Filipinos.

Redefining access to credit At the heart of this achievement is the CIBI Advanced Tier (AT) platform, which is specifically to address the long-standing challenge of credit invisibility.

Many Filipinos, particularly those in rural areas or working in the informal economy, have traditionally been excluded from the formal financial system due to limited or inaccessible credit history.

By integrating advanced matching algorithms and streamlining ExtractTransform-Load (ETL) processes, the platform delivers broader, cleaner, and more inclusive credit data than ever before. Today, AT connects over 1,000 submitting entities, including 338 cooperative banks, 266 rural banks, and 248 lending companies.

It covers 269 million tradelines, spanning credit cards, personal loans, and unsecured loans, and has expanded credit visibility to 60 million Filipinos, a threefold increase in the scorable population.

These milestones are more than statistics; they represent lives changed.

106 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

For the first time, individuals and small businesses who were once invisible to the financial system can now secure loans, grow enterprises, and participate in the formal economy.

We envision a future where every Filipino, regardless of background, has the opportunity to participate in the formal economy and pursue their aspirations

Impact beyond technology Whilst innovation powers CIBI’s progress, the true measure of its impact lies in the communities it serves. By providing reliable, real-time data to banks, rural lenders, and fintech partners, CIBI enables lending decisions that are not only more efficient but also more inclusive.

From micro-lending platforms extending emergency funds to daily wage earners, to flexible payment services that give young consumers greater purchasing power, CIBI’s data powers financial inclusion in action.

Recognition and responsibility In her acceptance speech at the awards ceremony in Singapore, Pia Arellano, President & CEO of CIBI, reflected on the recognition: “This award affirms our commitment to empowering millions of

Pia Arellano, PCEO, CIBI

Filipinos—especially those in underserved communities—through trusted data. We see this not just as an award but as a responsibility to keep pushing boundaries for inclusion.”

Arellano's words capture the ethos of CIBI: an organisation that views its role not simply as a credit bureau, but as a catalyst for meaningful change as well.

The role of credit bureaus in driving inclusion In a world where financial inclusion is a critical driver of economic growth and equality, the role of credit bureaus is often understated yet transformative. By compiling and analysing consumer credit data from diverse sources, credit bureaus enable financial institutions to assess the creditworthiness of individuals with little or no formal history.

This vital function bridges the gap between underserved populations and formal lenders, creating pathways for millions to access loans, build credit profiles, and participate in the financial system.

CIBI’s AT platform exemplifies this role, demonstrating how innovation can bring inclusion to scale in the Philippines.

Looking ahead CIBI’s journey does not end with this recognition. The company is investing in advanced scoring models, trigger systems, and attribute monitoring tools to provide lenders with predictive, proactive ways to serve customers responsibly. By expanding partnerships with fintechs, rural banks, and cooperatives, CIBI is poised to broaden access to financial services even further.

CIBI at Asian Banking & Finance Fintech Awards

Discover now

ASIAN BANKING & FINANCE | Q4 2025 107

FINTECH AWARDS 2025

DIGITAL BANKING AWARD - PHILIPPINES

Finastra’s next gen core banking system instrumental in Tonik Digital Bank’s growth story in the Philippines Tonik continues to reimagine banking in the Philippines, supported by Essence’s combination of rich, broad, and deep banking functionality with advanced technology.

K

een to help more Filipinos access banking products, Tonik partnered with Finastra in 2021 to power the launch of the Philippines’ first digital-only bank. Backed

by Finastra’s advanced core banking platform.

Continued partnership over the years What stands out for Tonik is the flexibility that Essence provides, enabling them to launch new products swiftly, reduce operational costs fivefold in the past 2 years, and expand its loan portfolio sevenfold — all whilst enabling real-time access to core banking data for AI-driven personalisation. Essence’s no code product composer and ability to blend functionalities from different areas of financial services has been a key enabler of product innovation.

In 2024, Finastra helped the bank roll out app enhancements, including the use of data analytics and artificial intelligence (AI) to deliver tailored loan and financial management solutions and personalise the customer journey. Tonik also optimised in-app processes that streamlined loan processing and reduced loan approval times by 30% which led to significant increase in repeat loan offers. Dedicated Agile Streams engagement with Essence across functional, operational, and architectural capabilities has enabled Tonik to deliver a modern, transparent, and seamless digital banking experience.

Finastra Essence provides holistic capabilities Finastra Essence, built on modern microservices and cloud technologies, combined with rich functional capabilities, has been instrumental in propelling Tonik’s growth story. With the support of Finastra Essence, Tonik Bank offers a range of flexible financial solutions to meet the diverse needs of its customers.

These include payment holidays, early settlement options, delayed payment fees, and Buy Now, Pay Later (BNPL) services.

Additionally, the bank provides clear and transparent information on Effective Interest Rates (EIR) and Monthly Interest Rates (MIR), ensuring customers are well-informed about their financial commitments.

Significant improvements were also made in the end-of-month statement generation, enhancing the overall customer experience and maintaining high service levels through 108 ASIAN BANKINGAND & FINANCE 2025 ASIAN BANKING FINANCE| Q4 | DECEMBER 2019

mutually agreed deployment procedures and stringent service level agreements (SLAs).

Leveraging the advanced technology of Finastra Essence, Tonik Digital Bank has enhanced their service delivery.

Core banking data is made securely available in real-time for machine learning, analytics, and other generative AI use cases, enabling the bank to offer richer and more personalised customer experiences.

The migration to cloud-native document management and storage solutions also improved security and maintenance windows, whilst optimised bulk processing and API capabilities facilitate back-end processes, thereby allowing the team to focus on more complex tasks.

Innovation, effectiveness, and customer care As of March 2025, Tonik has achieved 1 million cumulative loans disbursed since the banking app’s launch, cementing its status as the Philippines’ leading credit-led digital bank and launching a new era of credit inclusion.

In only two years, Tonik has already expanded its loan portfolio by sevenfold

whilst slashing unit operational service costs by fivefold. The bank also broke even on its contribution margin in Q4 2024, paving the way to recoup its cash flow within the next nine to 12 months.

After integrating generative AI into its banking app Tonik has transformed customer service by responding to 90% of inquiries in-app, of which 75% were resolved autonomously by AI. At the same time, operational efficiency has been enhanced by 4.3x—covering the areas of AI voice, automated quality control, digital training and development, as well as fraud detection—allowing the customer care team to focus on more complex issues.

Today, Tonik also leads in average revenue per user (ARPU) and average margin per user (AMPU) amongst digital banking competitors.

For revolutionising the lending process and enabling the integrating of AI in operations to improve the digital customer experience, Finastra, supported by the Tonik success story, clinched the top Digital Banking Award - Philippines prize at the Asian Banking & Finance Fintech Awards 2025.

Finastra at the Asian Banking & Finance Fintech Awards 2025

With the support of Finastra Essence, Tonik Bank offers a range of flexible financial solutions to meet the diverse needs of its customers

ASIAN BANKING & FINANCE | Q4 2025 109

OPINION

Show, don’t tell: Asian banks need to prove simplification works – here’s how

A

sia’s economic engine is a powerhouse, attracting investors and institutions to the region’s dynamic markets.

However, beneath the glittering skyscrapers of Singapore and the bustling trading floors of Hong Kong, a silent challenge is brewing within the banking sector: a productivity issue that threatens to derail the region’s growth.

The fast-paced and competitive environment in Asia demands a radical solution: simplification at scale.

This isn’t about minor tweaks; it’s a fundamental rethinking of how banks operate, from the boardroom to the back office.

Why complexity is impacting Asian banks For decades, Asian banks have relied on established systems, complex processes, and sprawling organisational structures. These elements have become a double-edged sword, making it difficult to maintain high productivity and foster innovation.

It’s time to move beyond surface-level adjustments.

Asian banks need to adopt a more thorough simplification strategy, which includes divesting from underperforming assets, streamlining decision-making, and empowering their workforce to thrive.

The numbers speak for themselves. Across the region, banks are struggling to maintain profitability due to rising operating costs and increasing regulatory burdens.

Traditional strategies like cost-cutting initiatives and incremental process improvements have not been enough. The main issue is not just inefficiency; it is a lack of agility and the inability to adapt quickly to changing market conditions.

Simplification can help by enabling banks to scrutinise their business and calculate the return on investment for various functions, processes, and segments, much like a discerning investor.

NICOLE ZHOU Senior Partner McKinsey & Company

Simplification Simplification is more than just a cost-cutting exercise; it’s a strategic imperative. Banks that can streamline their operations, reduce complexity, and deliver a seamless customer experience will dominate the Asian market.

This involves making tough choices, such as divesting from non-core businesses and consolidating overlapping functions. It also means adopting agile methodologies and empowering employees to make decisions quickly.

Consider the typical customer in Southeast Asia trying to navigate a bank’s antiquated mobile app.

Bottlenecks like multiple logins, confusing menus, and a clunky user interface are common.

This is not just a customer service issue; it is a productivity drain, as bank employees spend countless

110 ASIAN BANKING & FINANCE | Q4 2025

hours helping customers navigate these convoluted systems. The solution to this is a relentless focus on customer experience.

Banks must design their products and services around the needs of their customers, not their internal processes. This means investing in user-friendly mobile apps, simplifying account opening procedures, and providing personalised customer service.

Leveraging data analytics to understand customer behaviour and identify areas for improvement is also crucial.

Harnessing technology and talent Asian banks have significant advantages, including a vast talent pool and a thriving technology sector.

These resources can be harnessed to build simpler, more efficient operations.

Banks should embrace solutions like cloud computing, artificial intelligence, and robotic process automation. These technologies can automate routine tasks, enhance data analysis, and improve customer service.

However, technology alone isn’t the answer.

Banks must also invest in their workforce, equipping employees with the skills and training needed to excel in the digital age. This means fostering a culture of continuous learning, where employees are encouraged to experiment with new technologies and develop new skills.

Attracting and retaining top talent by offering competitive salaries, benefits, and career advancement opportunities is equally important.

Navigating Asia’s diverse markets Simplification is not a one-size-fits-all solution.

The diverse cultural and regulatory landscapes across Asia require a nuanced approach. What works in Singapore may not work in Indonesia, and vice versa. Banks must carefully consider the specific needs and challenges of each market when designing their simplification strategies.

They must also be sensitive to cultural nuances and ensure that their solutions are culturally appropriate.

The concept of the “aggregation of marginal gains” is key. Banks should break down their operations into small components, improving each piece by just 1%, and achieving a significant compound effect in performance.

Instead of attempting to overhaul entire systems at once, banks should focus on making small, incremental improvements that add up over time. This approach minimises risk and allows banks to learn from their mistakes along the way.

YOUR SUCCESS. OUR SUCCESS.

For more information, please contact your relationship manager or visit www.scb.co.th/th/wealth

ASIAN BANKING & FINANCE | Q4 2025 111

OPINION

What kids without wallets can teach us about the future of finance

I

n the Asia-Pacific (APAC) region, a quiet revolution is underway—led not by seasoned investors or fintech disruptors, but by children.

Gen Alpha, born from 2010 onwards, is growing up in a world where money is more likely to be tapped than counted, and where financial literacy begins not with a piggy bank, but with a smartphone.

According to Mastercard's research, 94% of Gen Alpha children in APAC already have access to a financial account. About half hold digital wallets (58%), investment accounts (49%), or even credit cards (48%).

These aren’t just digital natives; they are early adopters of financial tools, often outpacing their parents in digital fluency and financial confidence whilst challenging traditional notions of financial education.

This shift isn’t just fascinating—it’s a strategic signal.

Gen Alpha is offering a window into what is expected from the financial world, both today and in the future: intuitive, embedded, and confidence-building experiences. For banks and financial institutions, the message is clear: designing for this generation sets a new benchmark for relevance and resilience.

Digital fluency is now a given What sets Gen Alpha apart is not just early exposure to financial tools; it is how naturally they engage with them. They are not learning to use digital wallets; they are growing up with them. They do not see budgeting apps as utilities, rather, they see them as part of their digital ecosystem, alongside games, messaging apps, and learning platforms.

This fluency is reshaping the parent-child dynamic.

Nearly half (47%) of Gen Alpha parents say their children have introduced them to digital financial tools they did not know about. In many households, the traditional flow of financial wisdom—from parent to child—is reversing.

For the payments sector, this is a mandate to evolve.

It’s no longer enough to offer sleek interfaces or faster transactions. Tools must evolve with the user, supporting their journey from first tap to financial independence. If a 10-year-old cannot intuitively navigate your platform, it may not be ready for prime time.

SANDEEP MALHOTRA Executive Vice President, Core Payments Asia Pacific Mastercard

Designing for confidence, not just convenience The goal of financial innovation has long been convenience. But Gen Alpha is pushing us to think bigger. What they need—and what their parents want— are tools that build confidence. That means more than just easier or safer payments. It means experiences that teach, adapt, and empower.

What the research clearly shows is that there is strong demand for features like educational content (67%),

112 ASIAN BANKING & FINANCE | Q4 2025

real-world learning simulations (48%), and gamified experiences (43%). These aren’t just bells and whistles; they’re the building blocks of financial confidence.

When a child learns to save or budget through a game or sees the impact of a spending decision in a simulation, they are not just playing, they are preparing for their financial future.

The new rules of relevance Designing for Gen Alpha is also an investment in broader inclusion. In APAC, where fast-growing markets like Vietnam, Indonesia, and Malaysia are leapfrogging into mobile-first ecosystems, financial tools must meet users where they already are: on super apps, in social commerce, and through peer-to-peer platforms.

This isn’t just about access — it’s about agency.

Consumers increasingly expect seamless, embedded experiences that offer transparency and control.

In fact, 70% of consumers in Asia Pacific want all-inone apps to manage payments, shopping, and more.

And with nearly 40% already transacting through social or messaging apps, the shift from browsing to buying is happening in real time.

For financial institutions, this is a strategic opportunity to lead with relevance.

By embedding trust, personalisation, and education into every interaction, we can build systems that not only serve Gen Alpha but elevate the experience for all.

Gen Alpha is ready. Are we?

The rise of Gen Alpha is a wake-up call for banks, fintechs, educators and parents alike. It’s time to move beyond retrofitting legacy systems and start designing for digital fluency from the ground up.

That means embedding education into every financial interaction so learning becomes a natural part of using money. It means prioritising intuitive design that empowers users of all ages, making financial tools as easy to navigate as the apps they already use.

At the same time, innovation must be balanced with trust. As digital natives, Gen Alpha expects seamless experiences but they also demand transparency and control, especially when it comes to data and security.

Financial tools must offer experiences that grow in complexity and capability as the user’s financial competence increases.

The next generation isn’t waiting—and neither should we. Gen Alpha is already shaping the future of finance.

Let’s meet them there with tools that are intuitive, inclusive, and built for real-world confidence.

The financial institutions that design with them in mind won’t just stay relevant—they’ll stay in the driver’s

SETTING YOUR AGENDA FOR ASIA’S BUSINESS DAY

SQUAWK BOX ASIA WEEKDAYS 7–10AM SIN/HK STREAM ON TV | LISTEN VIA THE CNBC APP

4 ASIAN BANKING & FINANCE | Q4 2025