The transformation of Singapore banks
In 2014, Singapore banks made significant acquisitions, while foreign banks ramped up their local operations here
Singapore
THE economy may have slowed somewhat but Singapore's banking sector stood out in 2014 for its continued vibrancy, with local banks leading the charge while foreign ones ramped up their presence, especially in wealth management and trade finance.
The Singapore economy is expected to grow 3 per cent in 2014, down from 3.9 per cent in 2013, the government said last month. In Q3, the strongest performance came from the finance & insurance sector, whose growth surged to 10.5 per cent year-on-year, from 5.5 per cent in the previous quarter.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results