Singapore

It only launched the feature four months ago. DBS revealed that it has seen a 70% increase in digital transactions from its SME customers and 25% increase in transaction value since the bank launched DBS MAX four months ago, a mobile-based QR payment collection solution. The bank said that the adoption of DBS MAX has been steadily expanding with close to 2,000 merchants and 3,000 over outlets across Singapore, enjoying its popularity the most from customers in the F&B and retail sectors. The scheme is especially helpful for SMEs adopting digital forms of payment collection as it eliminates the time and effort in managing and depositing cash in banks. Overall cash transactions for SME customers using DBS MAX have significantly decreased by about half. “This correlates to the over four in five Singaporeans who are already using some form of e-payment, as digitalisation brings about more ease and convenience. This trend is set to continue with the increase in digital payments collections solutions targeted directly at SMEs such as DBS MAX,” the announcement said. DBS MAX has been rolled out in Hong Kong and India. DBS expects that more than three in five retail SMEs will sign up for the DBS MAX solution in the next 12 months.  

And PayPal injects $11m in Swedish financial startup Tink.

It will allow FX e-trading of over 130 currencies.

Housing loans fell to a three-month low at $202.76b.

And UniCredit eyes to sell $5.6b worth of bad loans.

He was previously the country head of financial institutions group.

RWAs could increase by 25% by 2022 and 80% by 2027.

He was formerly the CEO of Deutsche Bank Nederland NV.

FD rates have already started tapering off in April.

The 15-week programme at SMU will launch in January 2020.

It will serve as a platform for banks to self-asses and update industry codes of conduct.

He was previously the consumer business manager (CBM) for South Korea.

This lender enjoys higher income from its institutional banking and treasury markets units.

The formation of new bad loans in Q1 was the lowest in five years.

UOB was the only weak link as margins shrunk 5bps.

Nearly half or 40% of total group operating profit already comes outside Singapore.