BANK RESULTS

OCBC swallows bitter pill on offshore sector

OCBC took a knife to its offshore support vessels exposure, providing in full against bad loans for what Citi Research calls a "legacy book", and crunching its exposure down to negligible levels.

OCBC takes knife to offshore support sector exposure; Q2 profit down 40%

OCBC's Q2 net profit fell by a larger-than-expected 40 per cent after it took S$350 million in provisions to write down the carrying value of the existing offshore support vessels (OSVs) that back corresponding impaired loans - a move that has crunched down its exposure to the offshore support...

BANK RESULTS

UOB debt workout teams to assess those on debt holiday

UNITED Overseas Bank (UOB) has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures as the year end approaches.

UOB starts restructure work for debts paused on payments; Q2 profit down 40%

UOB has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures towards the end of the year. 

UOB launches digital bank TMRW in Indonesia

UNITED Overseas Bank (UOB) on Monday launched its digital bank TMRW in Indonesia. 

BANK EARNINGS

Singapore banks face scrutiny on asset quality at upcoming Q2 results

MOUNTING concerns over asset quality are likely to take centre stage at the upcoming quarterly results of Singapore's banking trio as companies brace for a prolonged crisis.

BANK EARNINGS

Dividend cap on Singapore banks to weigh down sentiment

ANALYSTS have reset their dividend estimates for Singapore banks in the upcoming second-quarter results, while also projecting for sharp dips in share prices in the near term, after the regulator nudged banks to cap their dividends.

MAS calls on local banks to cap dividend, offer scrip option

THE Monetary Authority of Singapore (MAS) on Wednesday called on local banks to cap their total dividends per share (DPS) for FY2020 at 60 per cent of the amount in the previous financial year, in a move to shore up capital amid the uncertain economic climate.

MAS calls on local banks to cap FY20 dividends at 60% of previous year's

THE Monetary Authority of Singapore (MAS) on Wednesday called on local banks to cap their total dividends per share (DPS) for FY2020 at 60 per cent of the amount in the previous financial year, in a move to shore up capital amid the uncertain economic climate.

GIC REPORT

GIC sees 4 major shifts that threaten future returns, raise volatility

TENSIONS between the US and China have been worsened by the economic pain from the pandemic. This will add to urgent calls for diversification of supply chains, though a "major retreat" from globalisation will hurt productivity growth, said GIC.

Citi appoints Lee Lung Nien as South Asia private banking chairman

CITI on Friday announced the appointment of banking veteran Lee Lung Nien as the South Asia chairman of its private banking arm.

Citi appoints Lee Lung Nien as South Asia private banking chairman

CITI on Friday announced the appointment of banking veteran Lee Lung Nien as the South Asia chairman of its private banking arm.

VIRUS OUTBREAK

As virus relief unwinds, banks face uncertain trek with 'zombie firms'

WITH authorities sending a fresh signal that relief in the form of debt moratoria will have to start being unwound, analysts say it would be a stab in the dark to assess the full impact of such unprecedented Covid-19 relief on Singapore banks' earnings.

Singapore banks' upcoming dividends may be cut amid capital review: analyst

DIVIDEND cuts by Singapore banks may happen "as early as" the upcoming payout to be announced in the second quarter, with the regulator reviewing banks’ capital plans amid prolonged economic uncertainty, said DBS Group Research in a report this week. 

DIGITAL BANKS

Digibank aspirants have viable path ahead, despite Covid-19 challenge: analysts

DIGITAL bank aspirants in Singapore still have a viable path ahead despite the uncertainties wrought by the pandemic, for the simple reason that there is a flexible timeline for them to set up shop fully.

Singapore banks' H1 dividend unlikely to be shaken by regulator's capital review

SINGAPORE banks' upcoming dividend payout is less likely to be impacted by deliberations by the regulator on banks' capital management plans, said CGS-CIMB.

Singapore banks' Q2 dividend unlikely shaken by regulator's capital review: CGS-CIMB

SINGAPORE banks' upcoming dividend payout is less likely to be impacted by deliberations by the regulator on banks' capital management plans, said CGS-CIMB.

MAS ANNUAL REPORT

MAS, banks to see how best to wean borrowers off Covid-19 reliefs

THE Monetary Authority of Singapore (MAS) is studying the delicate balance of when and how to ease virus relief measures, so as to mitigate unintended "cliff" effects when these helplines expire towards the end of the year.

MAS sees 'highly uncertain' global outlook ahead amid Covid-19 crisis

THERE is "substantial uncertainty" over the global economic outlook amid the Covid-19 crisis, said Monetary Authority of Singapore's (MAS) managing director Ravi Menon on Thursday.

DBS, Contour complete secured LC transaction on blockchain network

EFFORTS to digitalise trade finance are taking shape amid renewed questions over fraud in trade finance, with DBS Bank and blockchain trade-finance network Contour sewing up the network's first digital end-to-end secured letter of credit (LC).

DBS, Contour complete secured letter of credit transaction on blockchain network

EFFORTS to digitalise trade finance are taking shape amid renewed questions over fraud in trade finance, with DBS and blockchain trade-finance network Contour sewing up the network's first digital end-to-end secured letter of credit (LC).

DBS's weak Q2 showing may be cycle's bottom for bank: Citi

CITI Research expects DBS to report a "cycle-low" return on equity (ROE) of 7.5 per cent in Q2, with the projected weak earnings likely the worst of it in a season that has been seriously rattled by a health crisis.

Barclays appoints new Singapore country manager

BARCLAYS on Tuesday announced that it has appointed Alexander Harrison as its new Singapore country manager. 

MAS-led payments network on path towards commercial adoption of blockchain technology

THE Monetary Authority of Singapore (MAS) and Temasek on Monday released a report highlighting the "commercial potential" of Project Ubin, paving the way towards live adoption of blockchain technology.

MAS-led payments network on path towards commercial adoption

THE Monetary Authority of Singapore (MAS) and Temasek on Monday released a report highlighting the "commercial potential" of Project Ubin, paving the way towards live adoption of blockchain technology.