Banks print millions of new red packets

Singapore

GOOD times or bad, the local banks have continued to print tens of millions of red packets, or hongbaos, for their clients this year.

DBS has prepared some 20 million red packets - a number that has remained largely consistent from 2013 to 2016, according to a DBS spokesman. OCBC Bank has printed close to 15 million pieces for its customers in Singapore, Malaysia, China and overseas branches, while UOB said its stock is "in the millions", declining to give an exact figure. StanChart has printed a few hundred thousands.