Keywords: FCA UK, Martin Wheatley, JPMorgan, Jamie Dimon, CBRC, Industrial Bank Of Korea, Shinhan Bank, RBA

"I’m not sure it’s a good thing."
UK Financial Conduct Authority chief executive Martin Wheatley on the European Union’s planned cap on banker bonuses.

The following are notes from our Monday morning meeting.

JPMorgan chairman and CEO Jamie Dimon will keep both positions after only 32% of the bank’s shareholders voted to take his chairmanship away.

EU approved a draft law which enables ailing banks to withdraw funds from their customer accounts starting 2016, in a move similar to Cyprus’ recent bank bailout strategy.

Mobile money transaction in Uganda, with 16.5m mobile phone subscribers out of a population of 36b totalled $4.5b as of end-2012, with customer volume doubling YoY to 8.9m.

All cards-related fraud in Egypt declined 45% to $10m from 2008-2012, primarily due to the implementation of EMV chip-based technology on card products.

South Korean banks’ non-performing loans rose 25.1% to $2.4b in Q1 2013 due to the country’s slumping property market and economic slowdown.

China’s CBRC reported shadow banking credit increased from $130b to $1.1t in 2008-2012, a staggering 750% growth due to stringent mainstream banking loan regulations.

Industrial Bank of Korea and Shinhan Bank launched their first representative offices in Myanmar.

Asian Banker Research found the number of ATMs in Philippines totalled 12,225 in 2012, a 15% YoY growth. Click here for more.

Asian Banker Research found Indian banks' EFTPOS terminals grew 29% YoY in 2012, rising to 799,702. Click here for more.

According to Australia’s RBA, the country’s credit card debt currently amounts to $50b, with an average debt per card of about $3282, in a population of 23m, up 10% from 2009.