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Singtel edges out Grab in attracting deposits as digital banks: CGS-CIMB

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More customers may be willing to park money with Singtel than Grab, a CGS-CIMB report showed, with the brokerage estimating that 4-11 per cent of deposits from the domestic banking unit are at risk from being taken from incumbent banks, and absorbed by the upcoming new digital banks in Singapore.

MORE customers may be willing to park money with Singtel than Grab, a CGS-CIMB report showed, with the brokerage estimating that 4-11 per cent of deposits from the domestic banking unit are at risk from being taken from incumbent banks, and absorbed by the upcoming new digital banks in Singapore...

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