Singapore’s big 3: New capital rules no big deal

Robust capital and financial standing of DBS, OCBC and UOB make them easy to comply with the new MAS ruling.

Singapore's three domestic banks said on Tuesday they were confident of meeting new capital requirements set by the central bank, which will be tougher than the Basel III rules.

"DBS maintains a robust core capital position and has strong capital generation capabilities to pay dividends and support business growth," CEO Piyush Gupta said in a statement.

Oversea-Chinese Banking Corp CEO David Conner said his bank expected to meet the revised capital rules comfortably without having to raise additional equity, while United Overseas Bank also said it was confident of meeting the new rules.

DBS had a total capital adequacy ratio (CAR) of 17.2 percent, Tier-1 ratio of 14.2 percent and core Tier-1 ratio of 11.5 percent at the end of March.

View the full story in Reuters.