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Give better deal to POSB customers: DBS shareholders

Stakeholders call for higher interest rates for savings

[SINGAPORE] A call to give POSB customers a better deal - in particular, higher interest rates for their savings - dominated proceedings at DBS Group Holdings shareholders meeting yesterday.

Mano Sabnani got the ball rolling by citing DBS chief executive Piyush Gupta's comments on the bank's social responsibility; the chief executive said in the bank's annual report last year that the bank had to go beyond creating shareholder value to providing shared value for the communities within which it operated.

Mr Sabnani, noting that POSB used to pay higher interest rates than other banks, said POSB savings now earn just 0.05 per cent interest; only sums above $1 million get 0.1 per cent.

POSB customers...

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