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It has been more than a year since the emergence of COVID-19 which has impacted the world in an unprecedented way, ravaging not only the lives and livelihoods of many but also exacerbating the depth of disruption across traditional industries, with little visibility of what and when the “new norm” will be. Asia, which until earlier in the year seemed to have things under control, has since seen a reversal in the situation with India, Thailand, Indonesia, Malaysia and even Singapore seeing significant spikes in COVID-19 infections. The People’s Republic of China on the other hand has managed to contain case growth.
In August 2020, the South East Asian Central Banks (SEACEN) Research and Training Centre together with PIDM and Deloitte organised a webinar entitled “Navigating COVID-19: Fortifying Resilience in the Banking Sector” which highlighted a number of challenges facing the banking sector. A survey undertaken of the more than 500 participants who had joined the webinar, including regulators, bankers and professionals across Asia Pacific, had highlighted that asset quality deterioration across the SME and Retail lending segments would be the worst with most expecting recovery in 2-3 years. An overwhelming majority of them felt that this crisis was worse than the AFC and GFC.
One year on, SEACEN in conjunction with the Pepper Group, Asian Development Bank (ADB) and International Finance Corporation (IFC), are organizing another high profiled APAC focused webinar which brings together various experts in the field who will share their views on the state of play in the banking sector, the key headwinds facing the industry, how digitalisation could help in this crisis, the resurgence of systemic resolution tools / bad banks in resolving NPLs and the importance of private sector involvement. Click here for the full brochure