Finance Knuggets

Mar 28, 2024

I recently came across some interesting financial news. BPI Private Wealth is aiming to double its assets and capture a significant portion of the local high net worth market by targeting US$53 billion in assets under management by 2026. There were also reports of foreign banks in Korea experiencing a 6% increase in earnings, but also a significant rise in bad loans. In Japan, banks saw a $1.98 billion boost in interest income after a policy shift, but analysts warned of risks due to a rise in deposit rates. Additionally, Hong Kong’s wealthy individuals are planning to spend a substantial amount on travel in 2024, with Tokyo being their top destination.

There were also some interesting consumer trends in Southeast Asia, with nearly 7 in 10 consumers prioritizing essential purchases due to inflation. Meanwhile, the pet insurance market is expected to surge by 31% in CAGR by 2027, with significant growth anticipated in the dog segment. Art also topped the luxury investment index in 2023, posting an 11% price increase, the only sector to do so.

In other news, a Silicon Valley founder and investor, Andy Bechtolsheim, has been accused of insider trading by the SEC. Additionally, International Paper offered to buy British paper and packaging firm DS Smith for around £5.72 billion in stock, potentially setting up a bidding war with rival Mondi. In the venture capital space, various startups raised significant funding rounds, including Celestial AI, Observe, Uzum, and Global Screening Services, among others.

Furthermore, there were several private equity deals and liquidity events in the financial industry, indicating a strong level of investor interest and market activity within the startup and private equity sectors. Overall, it seems that there is a lot of movement and activity in the financial world, with various sectors experiencing growth and challenges.

Stay Well!

summy
summy