Frances Gagua

It will take effect on Monday, 8 May.

Over 7 in 10 loans made by banks are extended to corporates– leaving 15 million SMEs and self-employed workers with little access to traditional finance.

Its standardised base rate will now be 3%, whilst base lending rate is 6.72%.

Traditional institutions need to utilise constant, real-time data flow that generates insights on the fly. 

It is increasing its workshops to thrice a week from only twice a month.

This comes after the bank onboarded 100,000 people in 10 days after launch.

Profits include a provisional gain of $1.5b from SVB Bank UK acquisition in March.

Board has declared a dividend of SGD 42 cents per share.

The bank remains dedicated to reaching break-even in 2024, CEO Barbaros Uygun said.

Its loan balance has surpassed HK$1.3b as of end 2022.

There have been more comments from foreign firms on the difficulties of opening a bank account.

The total cases is at 6,376 by end-March, lower than the over 12,000 cases in 2022.

Shareholders approved a dividend distribution of 10% in cash and 15% in shares.

Supporting partners are HSBC and Amazon Web Services.

The branches can provide personal account opening and general enquiry services.

And fintech Boost looks to raise $50m to $100m in possible new funding round.