Financial Services
DBS Group's profits plummet 29% to $1.165b in Q1
The allocated $700m for COVID-19 risks prompted an increase in general allowance.
DBS Group's profits plummet 29% to $1.165b in Q1
The allocated $700m for COVID-19 risks prompted an increase in general allowance.
6 in 10 Singaporeans prefer online processing for insurance
More than half want faster claim processes and add-on healthcare offerings.
Prudential launches AI-backed mobile healthcare app
It can be used to check symptoms and video consult with doctors.
Banks to report healthy Q1 loan growth as companies boost liquidity
But credit charges are expected to rise further.
Credit card revenues threatened as Singaporean travellers shun usage
Card users turn to cash as they steer clear of lofty transaction fees and poor exchange rates.
SFA, Razer Fintech collaborate to support the fintech industry
It includes business continuity concerns, high business costs, funding, and employment.
Financial transactions grew by 40% in Q1: OCBC
Customer usage of digital banking services increased.
Opening the door to better digital banking experiences for Singapore's customers
The five new virtual banking licenses that the Monetary Authority of Singapore (MAS) intends to award this year promise to contribute significant...
Big three banks' $871.5m Hin Leong exposure adds to loan pressures
More than 17,000 mortgagees have applied to defer their mortgage payments.
AXA Singapore to use digital end-to-end services amidst distancing measures
Clients can use a video conferencing and co-browsing platform with their consultants.
OCBC to hand out $1b in SME loans by 30 June
The bank will pass all cost savings to SMEs by lowering the interest rate.
UOB offers $200,000 pre-approved loans to small businesses
The bank has approved three times more loans in March compared to January.
Almost half of finance leaders admit scant reporting on ESG
More than a third said that they find environmental impact the hardest to report about.
MAS urges clients to refrain from visiting financial firms
They are encouraged to use digital channels for their financial needs.
Big three banks to average 38% fall in Q1 earnings: analyst
Margins are expected to shrink 6-10bps compared to Q4 2019.
MAS offers near-zero interest rate loans for banks
The facility aims to help make loans more affordable for SME borrowers.
MAS signs MOU with EU regulator on financial benchmarks
It allows Singapore’s financial benchmarks to be used in the EU.
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