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Banking on boring but safe home mortgages

Price war continues, leading to home loans based on fixed deposit rate and now a special deal on zero-per-cent spread

Published Wed, Mar 1, 2017 · 09:50 PM

LAST month, a DBS Bank staffer got rather worked up at a tweet which said "UOB has the highest new home loan market share in Singapore, at 31%: CEO". This reporter was contacted and grilled on the matter, such as how UOB made such a claim, and exactly the period for which it was asserting the number one rank.

The market share ranking came from data provided by the Credit Bureau and who is leading depends on the period one looks at. A senior DBS executive later confirmed that DBS did lead in new home loans sales in 2016 but only for more than half of the year.

The flurry of excitement generated by that tweet reflects the aggressive strategy at DBS in going after the home loans market, and so it was naturally dismayed to find that rival United Overseas Bank had taken the lead in Q4.

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