OCBC sold F&N and APB while DBS sold its stake in BPI.
Barclays notes that in recent months, the SingaDpore banks have disposed of various non-core investments, including:
Here's more from Barclays:
We would not be surprised if there are further disposals of non-core investments as the banks shore up their capital positions in preparation for Basel III.
Changes to the treatment of minority interests and investments in financial institutions under Basel III may encourage banks to exit certain investments in order to optimise capital calculations.
Do you know more about this story? Contact us anonymously through this link.