Singapore
Singapore's 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.
Singapore's 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.
DBS prices first SORA-based floating rate notes
The notes have a notional amount of $14m (S$20m).
UOB's net profit down 19% to $855m in Q1
Total impairment charges skyrocketed 96% to $286m.
Weekly Global News Wrap: JPMorgan cleared to make $15b in new loans to small firms; BNP Paribas posts 33% crash in net income
And Norwegian wealth fund backs Barclays’ climate talks.
Singapore big three banks' impaired loans ratio to rise to 2.5% in 2021
The pandemic’s full brunt won’t set in until later in 2020.
UOB extends $2.83b in loans to mid-sized enterprises
The bank also tapped MAS SGD Facility to help clients access funds at lower interest rates.
Singapore's MAS extends scope of loan deferments
Starting 6 May, individuals with specific loans may apply to defer repayments until 31 December.
Coronavirus triggers switch to contactless payments in APAC
Health concerns made contactless payments more favourable to consumers.
DBS unveils customised digital financial planning tool
It is integrated into the DBS/POSB internet banking app.
Pandemic's impact on APAC banks to stay ‘longer than expected': Fitch
Downturns will be steeper than a normal cyclical downturn and stay until 2021.
Digital banking to flourish in APAC by 2025: study
Over three-fifths of clients are willing to switch to neobanks.
Singapore lenders to report healthy Q1 loan growth as firms amp liquidity
But credit charges are expected to rise further.
Weekly Global News Wrap: Tech issues hamper US banks' bid for $310m small firms aid; EU floats relief to support extra lending
And Allianz inks bancassurance deal with BBVA.
Chart of the Week: Japan's card payments to grow 2.6% in 2020
ATM cash withdrawals are expected to fall by 5.5% during the year.
OCBC Singapore to hand out $698m in SME loans by 30 June
The bank will pass all cost savings to SMEs by lowering the interest rate.
Weekly Global News Wrap: World's ten largest banks sued for rigging US bond market; Banks want Europe to mimic US capital easing
And Credit Suisse gets approval to take a majority stake in a Chinese investment bank.
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