MAS lifts dividend cap on Singapore banks and finance companies

Singapore

THE Monetary Authority of Singapore (MAS) on Wednesday lifted its dividend cap on locally-incorporated banks and finance companies based in Singapore.

It joins other central banks that have recently eased dividend restrictions imposed on banks last year, as the global economy rebounds amid gradual re-openings and rapid vaccine rollouts.

But as downside risks remain, local banks and finance companies should exercise continued prudence in their discretionary distributions, while prioritising support to customers, said MAS deputy managing director Ho Hern Shin in a statement.

"Particularly when Covid-19 is not yet endemic, b…

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