Banks in Asia have seen their margins shrink sharply in recent years as they face pressure from technology companies like Alipay and WeChat Pay. Photo: Xinhua

Asia-Pacific banks need to gain scale, pursue tech partnerships to stay competitive: McKinsey

  • Average banking return on equity in Asia decreased from 12.4 per cent in 2010 to 10.1 per cent in 2018, McKinsey says
  • Personal financial assets in region expected to increase to US$69 trillion by 2025, creating an opportunity for banks
Topic |   Banking & Finance
Banks in Asia have seen their margins shrink sharply in recent years as they face pressure from technology companies like Alipay and WeChat Pay. Photo: Xinhua
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