East Asia

As traditional banks compete to lead the way in digital banking, one internet-only bank has stood out for its innovation, its presence in the market and its offerings to customers: kakaobank.

Korea’s saturated market means tough competition for both the established domestic banks as well as for international banks seeking a toehold. Of the foreign banks that have succeeded in cracking the market, Citi has gone the furthest, building on more than 30 years of banking experience in Korea to operate a popular commercial bank, in addition to a wealth management business and an investment bank.

KB Financial Group is not only one of the biggest investment banks in Korea, it is also the top player across the board. It ranks fourth among domestic investment banks, according to Dealogic, with a market share of 4%.

South Korea’s banking sector is dominated by a handful of big players that have close relationships with the country’s conglomerates. But of these players one in particular stands out for its breadth, its consistency and its eye toward future growth.

Corporate social responsibility and sustainability are central to the Bank of America ethos, from the top executives down to the scrupulously regimented office bin policies. The bank’s drive has one of its most important advocates in Reiko Hayashi, the deputy president for Japan and a long-standing figure in the development of the country’s debt capital markets.

As Korea’s top domestic bank, Shinhan is in a position to lead the way for corporate social responsibility in the country. And the bank has done just that, under its motto of ‘Compassionate finance’.

When super-typhoon Mangkhut roared through Hong Kong in the middle of last September, the most intense such weather vent to strike the territory since records began 73 years ago, it devastated the MacLehose Trail, the much-loved track that traverses 100 kilometres across Hong Kong’s New Territories.

With its nifty ‘SC Keyboard’ application, Standard Chartered Hong Kong has solved those tricky problems many of us have when dining out with friends – the embarrassing lack of actual cash for the bill.

Angel Ng’s nimble Citi Hong Kong operation was busy – and profitable – in 2018, her first year in charge as chief executive, thanks in large part to Chris Laskowski’s investment banking division.