Financial Services
Chart of the Day: Pandemic spurs digital payment take-up in Singapore
Chart of the Day: Pandemic spurs digital payment take-up in Singapore
Electronic payments are expected to take up 61% of transactions by 2023.
MAS floats $125m support package for financial firms, fintechs
It will support workforce training, operations and access to digital tools.
UOB to shut down 24 branches
Thirty-eight will remain open, each located within a 3km radius from a closed branch.
MAS alters regulatory requirements for COVID-hit banks
Banks can now adjust their capital buffers to support lending activities.
DBS to start closing branches until 4 May
Its Treasures and Treasures Private Client centres will also shut down.
Insurance services to remain open
The government has raised distancing measures against COVID-19.
MAS names new assistant managing director
Celine Sia will hold the position for economics and knowledge management.
Maybank Singapore temporarily shutters 8 branches
ATMs and cheque-deposit facilities will remain open.
Local firms' payment performance nosedives to three-year low in Q1
Delayed payments made up 45.8% of all transactions during the quarter.
Challenging times ahead for banking industry
Delinquencies are sighted to rise from SMEs, large corporates, and retail customers.
Tokio Marine Life rolls out enhanced protection plan
The #go2gether campaign offers up to 50% coverage against death and critical illness.
Citi to support industry-wide relief programme
The bank also launched relief measures to support its clients.
CIMB Singapore launches relief scheme for commercial banking clients
All principal and interest on all term loans have been automatically deferred.
Credit regulator, NGO launch joint debt relief scheme
It is available to those owing money to banks and licensed moneylenders.
LIA Singapore offers six-month grace period for premiums
Policies will remain valid throughout the period.
SATS issues $200m fixed rate notes
The notes have a fixed coupon rate of 2.88% per annum and are payable semi-annually.
MAS, finance associations float support packages for individuals and SMEs
It aims to support SMEs with continued access to bank credit and insurance cover.
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