Grab-Singtel will hunt for more digital bank licences in Asia, say analysts
WITH one digital bank licence already in the bag, the Grab-Singtel venture is expected to be in contention for more such licences across Asia under its regional expansion play, analysts say.
Singapore's largest telco, through its joint venture with Grab, on Thursday announced it has applied for a digital bank licence in Malaysia with a consortium of other investors.
Citing guidance provided by Bank Negara Malaysia (BNM), Z74 : Z74 0% said the country's central bank will issue up to five digital bank licences by Q1 2022.
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
Banking & Finance
UniCredit jumps past 60 billion euro market cap to join elite club
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
MAS ‘following up’ with DBS on cause of May 2 glitch in digital banking services
UBS shares soar as profit smashes forecasts, share buyback plans affirmed