Financial Services
Singapore, Philippine central banks partner for data connectivity
They hope to boost cross-border data transfer and risk management.
Singapore, Philippine central banks partner for data connectivity
They hope to boost cross-border data transfer and risk management.
MAS to pilot green loan scheme for corporates
It will push banks to develop accessible green lending frameworks for SMEs.
Chart of the Day: Singapore has high encumbrance limits vs. other APAC markets
A high limit would cut refinancing risks if banks would ease issuance.
Rough road ahead for big three banks after improved Q3
OCBC, DBS, and UOB’s earnings rose in Q3—but 2021 presents a tough test as fiscal, monetary relief gets withdrawn.
DBS boosts branch network with new self-service options
Customers will be able to replace ATM or debit cards outside traditional banking hours.
Western Union floats e-voucher promotion for digital customers
Eligible customers can win Grab e-vouchers.
Piyush Gupta named ‘most visible' CEO in local media
Wilmar's Kuok Khoon Hong was deemed 'most favourable' CEO.
FIs called to review security controls against tech-related risks
They are asked to improve oversight of third-party vendors and review risk profiles.
MAS launches $35m funding for data reporting digitisation
It will co-fund up to 30% of expenses for the adoption of digital solutions.
How insurtech Cover Genius delivers personalised insurance anywhere
It partners with insurers to distribute plans through e-commerce sites.
Life insurance sector posts 2% drop in new premiums during Q3
Total weighted premiums hit $1.33b.
OCBC posts 12% YoY drop in Q3 net profit
Net interest income fell 11% YoY and 4% QoQ.
DBS posts 20% net profit drop in Q3
Lower net interest income triggered the fall.
MAS takes action against market abuse, financial misconduct
It has imposed a total of $15m in penalties on offenders.
Credit relief measures to aid SMEs impacted by legislation
Re-Align Framework helps businesses restructure their contracts.
UOB net profits down 40% to $668m in Q3
The group’s $339m hit on profits year-on-year, but results registered an improvement from Q2.
Great Eastern posts 40% profit jump in Q3
Total weighted new sales also surged 36% in the same quarter.
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