AGP Executive Report

Philippines Banking Snapshot: The Bangko Sentral ng Pilipinas said the country’s financial system resources hit a record P38.3T in June, with banks holding 83% of the total—an 8% year-on-year rise that signals lenders are still expanding credit and deposits despite Middle East risks. Kuwait Payments Rules: Kuwait’s central bank issued tighter disclosure and classification requirements for electronic payment and exchange firms, including clearer partner-funds treatment and extra handling rules for freezing customer funds. AI Meets Investing: Singapore brokerage users are increasingly using in-app AI tools to interpret market moves and analyze portfolios, with conversation volumes surging year-on-year. AI Infrastructure Finance: Nvidia’s AI financing push is drawing major asset managers and banks to mobilize $500B+ for AI infrastructure, reshaping how investors think about chip demand. Crypto Banking Politics: Sen. Elizabeth Warren introduced a bill to block presidents and top officials from owning banks after the OCC granted conditional approval tied to Trump-linked World Liberty Financial. Investor Protection Watch: A wave of securities class-action deadlines and investigations continues, including Genius Group, N-able, Onterris, and others, as firms urge investors to act before lead-plaintiff cutoffs. Fraud and Scams: Malaysia police reported a doctor losing RM558,000 to an online Forex/Ethereum scam, highlighting ongoing retail-investor risk. West Bank Tensions: Pope Leo XIV renewed calls to end violence as settler attacks and water seizures continue to disrupt Palestinian livelihoods.

Banking Oversight: Sri Lanka’s Nuwara Eliya will appoint an audit committee to probe alleged financial irregularities across all 10 divisional secretariat offices (2023-2026), including alleged Aswesuma beneficiary fraud and whether disaster, Samurdhi COVID-era, and senior-citizen relief payments were properly distributed. Retail Finance Deal: I&M Bank Rwanda signed an agreement enabling customers to buy home appliances and electronics with interest-free financing up to Rwf5 million. Energy + Industrial Decarbonisation: Bangladesh’s CPD urged a coordinated push for renewable electrification, targeted financing, and outcome-based regulation to decarbonise the ready-made garment sector, warning efficiency alone won’t unlock deep cuts. Capital Crunch + Reform Pressure: Bangladesh’s finance minister said the banking sector faces a serious capital deficit tied to money laundering and is seeking alternative financing channels and dedicated investment funds. Banking Results: Nations Trust Bank reported LKR 15.6bn PAT in 1H 2026 after acquiring HSBC Sri Lanka’s retail business; Sampath Bank posted Rs 16.6bn PAT with higher impairments. Corporate Capital Move: City Bank (Bangladesh) approved raising authorised capital to Tk 3,000 crore to stay eligible for dividends. Global Payments Trend: Barbados’ former central bank governor argued digital and bank-directed payments should replace cash due to lower loss and fraud risk. AI Investment Outlook: Goldman Sachs projected global AI-related investment near $1tn in 2026. Cross-Border Currency Push: Libya and other African institutions are moving to integrate with China’s CIPS to expand yuan-denominated trade and payments. Credit + Markets: German firms cut US direct investment to a three-year low (€4.3bn) amid tariff uncertainty.

AI Infrastructure Finance: Nvidia is reportedly in talks to invest up to $3bn in SoftBank’s SB Energy for an OpenAI-linked Ohio data center, potentially alongside about $100bn in credit support—an aggressive bet on AI power-and-capacity buildout. Crypto Banking Expansion: Israel’s Bank Leumi plans to launch regulated crypto trading with Galaxy starting early 2027, marking a major step for bank-led digital-asset access. Bitcoin ETF Flows: UBS boosted call-option exposure tied to BlackRock’s IBIT by more than 24x in Q2, while Tudor Investment increased its IBIT stake—signals that large institutions are still actively positioning for bitcoin upside. Market & Policy Watch: The U.S.-Japan yen intervention failed to calm currency anxiety, with traders now focused on the yen carry trade’s risk to global markets. Community Banking & Oversight: Great American Bank and Cottonwood Valley Bank agreed a strategic merger to expand lending and tech; Michigan’s insurance regulator regained NAIC accreditation after a financial review. Investor Protection & Scams: SEC ordered Nigeria’s capital market operators to freeze assets tied to six alleged terrorism financiers; separate reporting highlights investor losses tied to a Singapore vending-machine scheme and ongoing fraud claims around Wondermind. Real Economy Jobs: Indiana Governor Mike Braun announced Vulcraft’s $59m expansion in DeKalb County, aiming to add up to 20 high-wage jobs.

Banking & Markets: NatWest launched a new digital savings offer letting customers open an account from £1 at 4.5% AER instant access, as UK savers increasingly favor flexibility. Crypto & Regulation: Switzerland’s FINMA warned that cyberattacks and AI-driven risks are rising across banks and insurers, while New Zealand’s crypto ATM operators defended their small-business role amid tighter rules. Corporate Finance: BRAC Bank reported a 57% jump in Jan–June 2026 profit, with deposits and lending growing faster than the industry and NPLs improving. Investor Sentiment: US inflation cooled and PPI eased, trimming rate-hike expectations; meanwhile, Korean retail investors reversed course and poured about $663M into leveraged chip ETFs after a semiconductor selloff. Policy & Inclusion: Malaysia began staged Phase 3 STR cash aid payments to 5.3 million recipients, with amounts tied to income and household size. Energy & Infrastructure: Qatar condemned escalating West Bank settler violence; in business terms, Transnet invited bids to develop two logistics sites at Durban Port, and the Philippines signaled Middle East interest in investing in oil storage. Disputes & Fraud: Investors sued Selena Gomez’s Wondermind Global alleging fraud and unmet promises after about $1.2M in funding. Global Investment Push: Nepal urged its diaspora to invest at home, while Kuwait signed a $16B oil pipeline sale-and-leaseback deal to bring in global infrastructure capital.

Banking Performance: Security Bank reported first-half net income up 4% to P6.1B, with Q2 net income rising 11% YoY as revenues grew and the cost-to-income ratio improved. Central Bank Oversight: Bank Negara Malaysia said its guidance to the Lembaga Tabung Haji is part of its financial stability mandate, citing prior warning letters over asset-liability gaps and systemic risk. Crypto Banking Push: Israel’s Bank Leumi will offer crypto trading via Galaxy starting early 2027, while the US OCC granted World Liberty Financial preliminary conditional approval for a national trust bank tied to stablecoin plans. Market Flows: MSCI raised Taiwan’s weighting in key indexes, a move expected to draw fresh foreign capital but also raise volatility. Institutional Investing Mood: SEC 13F filings suggest investors trimmed some megacap tech and AI infrastructure exposure in Q2, with fewer big directional bets. Local Investment Programs: Erie County unveiled “Opportunity Zones 2.0” to speed up redevelopment and boost transparency for investors and communities. Corporate Finance Updates: Goodfood won court approval for a sale or investment solicitation process as it continues restructuring. Geopolitics & Finance: Ukraine said it’s preparing new sanctions targeting Russia’s defense industry and financial networks, aiming to cut war capacity.

Central Banking & Infrastructure: The BSP is building a new 31.3-hectare complex in New Clark City for printing banknotes and minting coins, aiming to decongest Manila and add disaster-resilience. Industrial & Tech Investment: BCDA says the proposed 1,600-hectare Pax Silica hub in Tarlac would be investor-financed, with government mainly providing land for an AI-linked supply-chain zone. Banking Performance: Malaysia’s Affin Bank reported 2Q profit down 11.1% as impairment allowances rose, even as revenue grew. Capital Markets & Growth Outlook: Bank Negara Malaysia reiterated confidence in 2026 4–5% GDP growth, citing policy consistency and strong investor demand for Malaysian sukuk. Project Finance: Resintech secured RM41m Commodity Murabahah term financing for land redemption and a Selangor hostel/retail development. Digital Assets & Cyber Risk: Israel’s Leumi plans to partner with Galaxy for digital asset trading, while researchers warn of Android malware that steals NFC payment card data in real time. Corporate & Legal Watch: Investors sued Selena Gomez and Wondermind over alleged securities fraud; in the UK, a CPUT student protest continues over university finances. Energy Transition: Pathfinder Clean Energy reached a final investment decision on a UK solar-plus-storage project (55 MWp solar, 22.6 MWh BESS) targeting H2 2027 operations.

Macroprudential Watch: New Zealand’s central bank kept its loan-to-value (LVR) limits unchanged, citing contained housing risks and manageable higher-risk mortgage lending. Pension & Capital Markets: The Philippines’ Social Security System reported P1.27T in investments in H1, with income of P27.16B and a plan to expand into foreign markets pending board approval. Digital Finance Policy: Pakistan is exploring digital assets and tokenisation, including for real estate and other investment assets, while stressing the need for an enabling framework. Energy Investment Pipeline: Argentina’s YPF filed to bring its $51B Argentina LNG project under its Large Investment Incentive Regime, aiming for exports from 2031. Banking M&A: Washington-based Gesa Credit Union agreed to acquire Salem’s Willamette Valley Bank in an all-cash deal, targeting completion in early-to-mid 2027. Corporate/Legal Risk: A Florida law firm was sued in Ohio over a missed filing deadline tied to Deepwater Horizon claims, seeking $134M+ in damages. Wealth & Markets: QIA announced an investment in Lesha Bank’s Lesha Qatar Opportunities Fund as part of its GCC-focused active asset management push.

BRICS & Digital Finance: Iran’s central bank governor said Tehran will soon join the BRICS New Development Bank, after talks on linking payment systems and digital currencies to speed cross-border transfers. Banking Operations & Tech: Avidia Bank completed a six-month enterprise overhaul using Creatio as a single system of record, aiming for faster, broader adoption across banking functions. Corporate Finance Leadership: MMCM appointed Prasad S. Shetty as CFO to strengthen financial controls and governance for its circular economy and carbon market push. Investor Appetite & IPO Watch: Shein’s Hong Kong IPO faces skepticism as investors question slowing growth and rising costs, with valuation concerns tied to future earnings expectations. Energy & Project Finance: Recurrent Energy closed $695m in project financing and tax equity for a 330MW California solar project, backed by MUFG and Nord/LB. Housing Finance Focus: Kenya’s affordable housing conference will spotlight financing models—blended finance and mortgage liquidity—to widen homeownership access. Geopolitics & Risk: The U.S. ambassador condemned a West Bank settler siege of a Palestinian American family as a “horrific act of terror,” as troops dismantled illegal outposts and tensions escalated. Airline Cost Shock: Philippine Airlines swung to a first-half net loss as Middle East conflict drove jet fuel costs sharply higher. Local Banking Dispute: Zimbabwe’s High Court cleared the way for NMB Bank to evict a couple from a Borrowdale Brooke property.

Banking & Payments: Doha Bank won “Best Retail Bank” and “Best For Remittances” at the MEED MENA Banking Excellence Awards, citing digital onboarding with KYC/biometrics and a unified remittance platform across 80+ corridors. Consumer Protection: UK watchdog Which? warned of a new “dangerous” card scam where fraudsters trick victims into approving card payments in apps, exploiting the gap between APP protections and card-fraud realities. Public Finance Oversight: Nkurenkuru Town Council in Namibia has one month to fix missing 2023/24 financial statement documents after auditors couldn’t confirm performance; lawmakers also flagged unsigned strategic plans and gaps in staff performance agreements. Municipal Financial Control: Cullen, Louisiana is moving toward appointing an independent fiscal administrator as water-system problems and overdue audits strain the town’s finances. Corporate Results: Carbon Streaming reported Q2/H1 financial results while continuing repayment-related cash proceeds and pursuing claims tied to prior executives; Datacentrex posted Q2 results with $51.9m cash and no debt despite higher power costs and digital-asset volatility. Bank Earnings: Al Salam Bank said H1 net profit hit a record $122.8m, with improved efficiency and ROAE/ROAA; Bahrain Flour Mills (Al Matahin) approved interim financials but saw Q2 net profit fall year-on-year. Crypto Regulation: Wisconsin advanced AB968 to regulate virtual currency kiosks as licensed money transmitters with identity checks, fee caps, and fraud warnings. Investor Legal Deadlines: Rosen Law Firm urged Photronics (PLAB) investors to meet a Sept. 4 lead-plaintiff deadline, alongside similar alerts tied to other securities class actions.

Banking & Infrastructure Finance: Bank of America unveiled a $250B Critical Infrastructure Finance Initiative to fund US data centers, semiconductors, power and transportation over 18 months, as demand for computing and energy security keeps rising. SME Credit Conditions: Malaysia’s central bank said overall SME financing remains supportive, with CGC guarantees topping RM103B for 544,000+ SMEs, while warning that temporary relief can’t replace productivity and resilience upgrades. Islamic Social Finance: Malaysia moved to mainstream Islamic social finance, tasking JAWHAR to improve governance and professionalism of Islamic NGOs and pushing collaboration with universities and the private sector. Investor Protection & Market Integrity: India’s NSE warned investors about unregistered social media accounts and a Telegram channel allegedly offering stock tips, urging people to avoid schemes promising assured returns. Wealth Management & Behavior: Financial advisors stressed emotion control amid volatility, warning against confusing short-term swings with permanent loss and making rushed cash moves. AI & Financial Services: UK regulators are debating AI’s systemic risks, including concentration among providers and correlated market behavior, even as AI boosts productivity. Dealmaking & Expansion: Merit Financial Advisors agreed to acquire $900M Bridgeway Group, expanding its Southern California footprint. Cross-border Trade: Pakistan and Belarus agreed to deepen cooperation across agriculture, energy, tech and defense, with a focus on trade and investment. Geopolitics & Risk: UN officials said the West Bank is at a critical breaking point as violence, displacement and settlement expansion accelerate. Regional Labor & Investment: Kenya and Qatar agreed to institutionalize consultations, with employment and labor agreement reviews high on the agenda.

AI Infrastructure Push: Nvidia teamed with six global financiers (Goldman Sachs, KKR, Apollo, BlackRock, Brookfield, Blackstone) to mobilize $500B+ for AI infrastructure, signaling a shift from AI pilots to large-scale buildouts. Banking & Tech Ops: A new industry take argues financial services firms now need “operational readiness” (data, governance, integration) to move AI from experiments into production. Public Finance & Risk: Malaysia’s Tabung Haji crisis drew fresh scrutiny in parliament, with officials saying losses nearly RM13B from 14 problematic investments (including seven total-loss deals) and claims that earlier Bank Negara Malaysia warning letters weren’t acted on. Market Plumbing: Canada’s CIRO issued trading halts and resumptions for multiple listed names, citing reasons like pending news and single-stock circuit breakers. Corporate/Investor Watch: A Michigan judge tossed a Neogen lawsuit tied to 3M integration claims, while multiple U.S. investor alerts flagged ongoing securities class-action investigations. Payments Detail: Pay-by-phone billing (direct carrier billing) remains a major payments channel, with operators using it for specific customer segments and use cases. Geopolitics & Finance: UN officials urged West Bank settlement expansion be treated as an emergency as violence and annexation concerns intensify.

Banking Crime: FBI says a bucket-hat suspect robbed Commerce Bank in Kansas City just after 2pm, fleeing with an undisclosed amount; authorities are asking the public for tips. Malaysia Finance Reform: Malaysia’s Tabung Haji overhaul heads to tighter rules after a Royal Commission of Inquiry, with proposed TH Act amendments including clearer accounting standards, penalties for misreporting, and possible Securities Commission oversight for fund management. TH Fallout and Bailout: Malaysia’s government says TH was bailed out with more than RM10bn in 2018 to restore solvency, while lawmakers cite specific loss-linked investments, including RM145.3m tied to dealings connected to 1MDB. Sri Lanka Development Finance: Sri Lanka’s Cabinet approved World Bank IDA-backed financing for a US$100m integrated regional programme in the Northern and Eastern Provinces, aimed at MSMEs, connectivity and livelihoods. Sri Lanka Remittances: Central Bank data shows July remittances rose 11.5% to US$777.6m, with currency stability supporting a return to formal transfers. Crypto Regulation (Russia): Bank of Russia allows Bitcoin, Ethereum and Tether for public trading on domestic exchanges, while capping retail purchases at 300,000 rubles per year. Energy Project Finance (Oman/Taiwan): Oman’s 120MW JBB wind project reached financial close under a 20-year PPA, while Taiwan’s Hai Long offshore wind secured a $1.7bn financing package as it nears commissioning. AI/Markets (Goldman): A Goldman executive urged investors to stay invested, citing expectations of no further Fed hikes, easing oil prices and resilient growth. Early-Stage Investing: ACA’s 2026 angel report shows $491.3m in 2025 angel funding (+12%), with capital concentrating in fewer deals and sharper focus on governance and exit paths.

Ukraine FX Liberalisation: Ukraine’s central bank rolled out its biggest currency easing since 2022, lifting limits on foreign-currency purchases and cash withdrawals to boost business and investor confidence while saying stability risks are contained. Banking & Credit Quality: Louisiana’s First Guaranty faces an unusual regulator consent order that restricts lending to certain borrowers, as regulators push it to clean up criticized loans. Big Finance, Big Tech: Bank of America started coverage of Tower Semiconductor with a Buy rating and a $367 target, arguing the semiconductor winner still looks cheap. AI Infrastructure Finance: Nvidia is partnering with major Wall Street lenders and investors to set up AI compute infrastructure financing platforms aimed at mobilizing $500B+ of third-party capital. IPO Aftershock: SpaceX’s shares are down about 17% since its IPO despite strong revenue momentum, with retail investors reportedly selling as the stock slipped below debut levels. Corporate Funding: Intact Financial agreed to issue $250M of limited recourse capital notes in a private placement, while Kayne Anderson BDC reported Q2 results and declared a dividend. Property Investment: Hong Kong commercial property investment more than doubled in Q2 to $3.1B, led by retail and office deals. Investor Legal Alerts: Multiple securities class actions and investigation notices continued to circulate, including Universal Technical Institute and several fintech/biotech names.

Housing Policy Shock: Australia’s major banks cut dwelling-price growth forecasts after federal negative-gearing changes, with investor borrowing power seen falling roughly 10–20% depending on tax rates. Central Banking & FX: China’s central bank pledged to keep the yuan “basically stable” while expanding yuan use in global trade and investment. FDI Watch: The Philippines saw foreign direct investment net inflows plunge to $210m in May, the weakest in 11+ years, as debt and reinvested earnings fell. AI Infrastructure & Investment: The U.S. Embassy in Armenia highlighted Firebird AI’s $4bn hyperscale AI factory opening, positioning the country as a regional hub for data centers and AI. Banking Results: Bank of Commerce posted a 13% jump in first-half net income to ₱2.11bn, driven by lending and FX gains. Critical Minerals Capital: TechMet will form a U.S. subsidiary to attract more public and private capital for critical minerals projects. MSME Support: Sri Lanka’s DFCC Bank launched DFCC Pragathi to bundle MSME lending, advisory and capacity-building under one brand. Regulatory/Legal: New York’s appellate court affirmed a mortgage foreclosure dismissal as time-barred in Deutsche Bank National Trust Company v. Pulver. Crypto Fraud Alert: New York State Police warned of fake investment pitches pushing victims into crypto/gold sites after banking details are entered. Securities Litigation: A wave of U.S. class actions and investigations targets firms including Pentair, ZoomInfo, PROCEPT, Peabody, Coastal Financial, IBM and others, with investor deadlines ranging from Aug. 17 to Oct. 2.

World Bank/ADB Financing: The Philippines is set to secure $1.5bn in fresh loans—$1bn from the World Bank and $500m from the ADB—to deepen financial markets, expand access to capital, and push reforms on trust, AML, cybersecurity, deposit insurance, digital payments and corporate debt. Regulatory Crackdown: Australia’s ASIC says it hit a five-year high in enforcement, removing or restricting 150 rogue operators, including 87 financial-services and 27 credit-services providers, plus 36 corporate managers disqualified. Investor-Litigation Deadlines: A wave of securities class-action notices from Rosen Law Firm highlights upcoming lead-plaintiff deadlines for investors in Microsoft (Aug 11), Hertz (Sep 22), Rackspace (Sep 28) and Wise Group (Sep 29). Banking/Market Watch: Singapore’s STI rally is heavily bank-led, with DBS warning investors about stretched valuations and potential consolidation. Cross-border Finance: Kuwait is mulling an agriculture investment push as FDI remains low, aiming to boost food security via partnerships, incentives and tech like hydroponics. Corporate/Policy Risk: Uzbekistan’s central bank warns the economy may be overheating and urges restraint on spending and tight policy.

Islamic Finance Watch: Malaysia’s Tabung Haji signaled recovery with a 3.5% profit distribution for FY2025, with economists pointing to governance and risk discipline as key to lifting depositor payouts. FDI & Investment Climate: Qatar reported Q1 2026 FDI growth, with inward FDI up to QAR 172.2bn and outward FDI to QAR 221.7bn, while the Philippines’ business groups warned that intimidation tactics could spook foreign capital and tourism. Banking & Fraud Risk: Hyderabad police ordered faster action against AI-enabled scams, fake investment apps and “digital arrest” frauds, stressing bank coordination to freeze and recover funds. Capital Markets Integrity: Pakistan’s SECP referred Blink Capital Management to the FIA over alleged unauthorized collections tied to promised fixed returns. Policy & Approvals: India is considering lifting the Cabinet Committee on Economic Affairs FDI approval threshold to ₹15,000 crore from ₹5,000 crore to speed big deals. Market Signals: Korea saw foreign investors dump nearly $4.3bn in chip stocks in the first week of August, while the won’s volatility hit the widest since the 2008-09 crisis. Project Finance: NioCorp flagged financing uncertainty as a make-or-break risk for its Elk Creek project, warning equity dilution could drive outcomes.