Financial Services
DBS approves loans worth $1.1b for micro, small businesses
Interest rates of Enterprise Singapore financing schemes averaged 2-3%.
DBS approves loans worth $1.1b for micro, small businesses
Interest rates of Enterprise Singapore financing schemes averaged 2-3%.
New life insurance business premiums up 10% in Q1
More consumers take action to secure their financial future in view of COVID-19.
Financial institutions to reopen customer service locations from 2 June: MAS
But most staff will continue to work from home.
Great Eastern, health firm Doctor Anywhere bolster venture
The latter has been providing health service to group insurance clients since 2019.
OCBC customers ramp up adoption of digital services amidst pandemic
The number of SME accounts opened digitally more than doubled in Q1.
Lower dividends on the horizon for banks' shareholders: analyst
Requirements to allow for losses may force dividends to be cut.
RIABU unveils campaign to urge large firms pay SMEs on time
The movement, Pledge2Pay, aims to help SMEs survive the COVID-19 period.
Manulife Singapore pilots health tracker
The MOVE Health Score has a scoring method for gauging fitness.
POSB opens 41,000 accounts for migrant workers
This follows the advisory from the Manpower Ministry to pay salaries electronically.
MAS, SFA, AMTD hand out $6m grant for fintechs
The grant aims to help fintech firms maintain their operations and enable them to innovate further.
OCBC's credit costs to recede after Q1 ‘front-load'
The bank expects to record 100-130bp in cumulative credit costs.
Singapore to elevate hub status with new digital banking regulation
A more flexible Payment Services Act makes it easier for fintechs to apply full operations in Singapore.
MAS bans four individuals for fraud
They will also serve separate prison sentences.
Big three banks fell in Q1 as pandemic persists
Compressed net interest margin and rise in non-performing loans are to be expected, according to analysts.
OCBC's Q1 profit plunges 43% YoY to $698m
Banking and insurance operations suffered tremendous losses.
Do fintechs need better marketing strategies?
Singapore now houses hundreds of fintech companies, ramping up competition.
DBS launches cashless purchasing card for the logistics sector
The DBS P-Card will provide digital solution for payments and collections.
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