Singapore
Singapore to eliminate use of all corporate cheques by 2025
Singapore to eliminate use of all corporate cheques by 2025
Cheque transactions have declined by almost 70% between 2016 to 2022.
Public-private cooperation and partnership are key to advancing CBDCs
Whilst the merits of CBDCs are still widely debated, central and commercial banks are actively exploring the use of CBDCs in local markets.
UOB net profit up 53% in H1; 85 cents interim dividend announced
Net profit was S$1.4b in Q2 when including the one-off Citigroup integration expenses.
StashAway, family office firm to offer clients with more investment options
ACP clients can invest in private equity managers such as KKR, SilverLake, and Khosla Ventures.
BigPay revamps mobile application interface
The redesign now features a floating navigation bar.
South Korean banks to maintain eased lending stance in Q3: report
There are less banks who will ease their lending stance compared to Q2 and Q1, however
SG incumbent banks unlikely to take hit from neobanks' deposit cap raise: Fitch
Digital banks could face challenges beyond funding.
OCBC establishes chief sustainability role, nominated Mike Ng
Mike Ng will assume the group CSO position on 1 August.
Lexasure engages in partnership for auto insurance
The partnership aims to service Singapore and Cambodia’s markets.
Singapore banks face tepid loan growth; interest margins to peak in 2023
Banks may face some backsliding in its bad loans ratio, S&P’s Ivan Tan warned.
GXS opens savings account to all Singaporeans, maximum deposit raised
It offers a daily interest credit feature.
OCBC issues green trade finance facility to Seatrium
The trade facility, with issuance of Banker’s Guarantee, is worth about S$1.04b
South Korea’s household loans rise 3.5% in June
Demand for bogeumjari loans and jeonse loans drive mortgage loan demand.
OCBC, Ascenda to offer more transfer options for rewards currencies
It is now available to OCBC customers holding Travel$, Voyage Miles and OCBC$ rewards balances.
DBS sells 77.8% stake in AXS to Tower Capital Asia
AXS became a subsidiary of the bank in 2006.
DBS upskills sustainable financing knowledge of 1,600 relationship managers
The bank will incorporate the workshops as part of its training curriculum for incoming RMs.
Korea allows formation of new nationwide bank for first time in 30 years
FSC plans to issue new banking licenses to bolster competition.
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