Financial Services
India's massive bailout fails to buoy banks out of earnings rut
Little will be left for lending from the government’s $32b capital injection.
India's massive bailout fails to buoy banks out of earnings rut
Little will be left for lending from the government’s $32b capital injection.
Chart of the Day: Banks bear the burden of growing credit card debt
Bad credit card debt that was "written-off" jumped 16% to $20.74m in March.
MAS to require investors to log stock short sales
They need to be reported through an online portal.
DBS to build Carousell's mobile wallet CarouPay
This followed the bank’s participation in Carousell’s US$85m funding round.
Prudential to pay $100 to customers hit by GIRO deduction
Customers can expect it to be credited to their accounts by 3 June.
OCBC rolls out financial advisory and lifestyle programme for elderly
It will train seniors on e-payments amongst other activities aimed at safeguarding their future.
MAS commits to Foreign Exchange Global Code
The code promotes a robust, fair, liquid, open, and transparent FX market.
HSBC integrates personal information vault into credit card application process
Applicants won’t need to provide supporting documents anymore.
Losses loom for Singapore banks as Hyflux struggles to stay liquid: Moody's
Half of the embattled firm’s debt comes in the form of unsecured bank loans.
MAS slaps warning on ICO issuer and 8 digital token platforms
They violated MAS' regulations on registration.
OCBC to roll out fingerprint-based credit card payments
This eliminates the need for multiple payment devices.
MAS to expand regulation of trade exchanges
It wanted to give way to new business models like blockchain and P2P trading.
Chart of the Day: Banks prefer customer deposits to current and savings accounts
Deposits to current and savings accounts jumped 9-13 ppts over 10 years.
Singapore's wealth management business dominates Asian competition
It’s favoured for its stability, but Hong Kong could beat it soon due to the growth of Chinese wealth in the area.
UOB reportedly halting foreign currency banknote supply in Taiwan
The move comes amidst tighter anti-money laundering rules in the region.
MAS bans six persons from financial advisory after misselling products
Their crimes involved forgery and making false financial advice, amongst others.
HSBC Insurance rolls out digital insurance platform
It currently offers two life insurance solutions.
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