Al Rajhi Bank in Saudi Arabia remains the leading global Islamic bank, with Middle Eastern counterparts surpassing Asian ones in scale and profitability, while Asian Islamic banks exhibit stronger asset quality

China’s wealth management market overcame regulatory hurdles and saw renewed investor confidence in the first half of 2023, with mutual funds surpassing the scale of bank wealth management products

Philippine digital banks saw rapid growth in 2023 alongside mounting concerns over credit quality as gross NPL ratios soared

The top 10 digital banks saw revenue grow from $41 billion in 2022 to about $49 billion in 2023

Most of Asia Pacific witnessed a slight slowdown in SME loan growth in 2023, but the regional average increased marginally, led by Australia, while concerns remain over SME loan quality, notably in Thailand

The world’s top 10 most profitable banks with assets over $100 billion include four from the Middle East, three from Asia, two from the Americas, and one from Europe

China’s economy grew faster than expected at the start of the year but it remains to be seen if it signals a solid recovery trend as the crisis-hit property sector bears down on growth

Financial institutions are swiftly adopting blockchain and cryptocurrencies, catalysing regulatory discussions and heralding a significant shift in the global financial system.