Banking Industry Trends in Asia: February 2000

In February 2000, the Asia Pulse provided an executive briefing on banking, highlighting various trends and developments in the industry across Asia. The report noted that the internet was saving time and costs for both individual and corporate borrowers. The report also touched on the listing of state-owned banks, including the National Bank of Pakistan, and the need for Bank Indonesia to liquidate ailing banks. Additionally, it discussed India's Global Trust Bank creating a national payment network and Commonwealth Bank of Australia's focus on e-commerce.

Key Takeaways:

• The internet is reducing the time and costs required for borrowing money, benefiting both individuals and corporate borrowers.
• The Korea Development Bank's Hong Kong office used the internet to tap issuing conditions from 14 buyers worldwide, showcasing the potential of online banking.
• The National Bank of Pakistan is set to be listed on the stock market, aiming to create a self-governing mechanism of monitoring and sustain efficiency.
• Bank Indonesia was advised to liquidate ailing banks by the end of 2000 to alleviate debt burden on the budget.
• India's Global Trust Bank plans to create a countrywide payment network system to facilitate financial transactions between banks.
• Commonwealth Bank of Australia needs to stay ahead in e-commerce developments to remain competitive.
• Anthony Salim of Indonesia's Salim Group expressed interest in taking control of Bank Central Asia when it starts showing improved performance.
• Standard & Poor's affirmed the ratings of Australia's four major banks, with a stable outlook.

Statistics:

• 14 buyers from Europe, Japan, China, and the Middle East were tapped for issuing conditions through the internet by the Korea Development Bank's Hong Kong office.
• Rp3 trillion (US$428 million) is the amount the Indonesian Bank Restructuring Agency hopes to raise by divesting its majority share in Bank Central Asia after its listing on the Jakarta Stock Exchange.

Sources:

• Asia Pulse (http://www.asiapulse.com)
• Asia Pulse Production Centre Phone: (612) 9322 8634
• Fax: (612) 9322 8639