For Singapore banks, a lesson on greater transparency from Jamie Dimon

JPMORGAN'S long-standing CEO Jamie Dimon on Monday set out a 23-page shareholders' letter that outlined how the US bank is managing the crisis at hand, as brought on by the global virus outbreak.

It is a lesson on transparency, and a critical one that Singapore-based banks can look to as an example for how lenders here can discuss the impact of the novel coronavirus. For when measured against a display of corporate openness, Singapore banks can push themselves further in explaining the impact of the virus outbreak since the start of this year.

What are the salient pieces of information that banks should soon be much clearer about? These would include the impact on their operations under stressed circumstances, the prospects for shareholders, support for their staff and their jobs, as well as the extent that they have put out relief measures for customers.