DBS Bank unveils third round of liquidity relief for SMEs, individuals

Singapore

DBS Bank announced on Friday its third round of liquidity relief measures for individuals and small and medium-sized enterprises (SMEs). This follows the recently unveiled financial relief package outlined by the Monetary Authority of Singapore (MAS) and other industry bodies earlier in the week.

Singapore's largest bank will double the quantum of its digital business loan for SMEs to S$100,000, as part of efforts to grant SMEs access to additional working capital during this period. The collateral-free digital business loan was launched on Feb 26 and has "seen healthy interest" since then, according to DBS.