The US banking giant's pledge comes even as most foreign businesses have remained reluctant to commit to growing their China business amid increasing Sino-US tensions

Over the weekend, India’s SVC Bank rushed to calm panicked depositors after they mistook it for the California based Silicon Valley Bank

"No other bankers in the US provide the level of services SVB used to offer," said an executive at a major Chinese investment bank, which has deposits at Silicon Valley Bank

Central banks from Hong Kong, Thailand, China and the UAE issued CBDCs worth $12m on BIS’ mBridge platform to test cross-border transfers to and from commercial banks and foreign exchanges

Singapore banks are expected to see net interest margin expansions of 10 basis points on a quarter-to-quarter basis, the highest over the last eight quarters.

China's central bank oversaw the tiniest daily cash infusion since January 2021, with just 2 billion yuan ($296 million) added through seven-day reverse repos on Wednesday

The news from the banking regulator follows an announcement announcing a second round of repayment to depositors whose funds were frozen

The move, which comes amid pressure from Chinese stakeholder Ping An to break up the group, occurred after the lender raised its stake in the unit

Financial regulators in Henan province said on Thursday that individuals with deposits of up to 100,000 yuan ($14,800) will be repaid

The city-state's debt markets are on course for the biggest year of bank-capital raising in more than a decade

Stuart Kirk, then head of sustainable investing, told a Financial Times event in May that central bankers were overstating warnings about the threat from global warming.

Improved profitability comes on the back of shrinking bad debts.