MAS reviewing banks' capital plans, including dividend payouts
Despite turmoil, financial sector is unlikely to contract from a year ago, and should still create jobs
Add BT as a preferred source
Singapore
AMID "substantial uncertainty" over the global economic outlook as corporate defaults are set to rise, the Singapore regulator is now in "close discussions" with Singapore banks on their capital management ahead, which would include conversations around - though not limited to - restricting dividend payouts.
Speaking to reporters at the release of the central bank's annual report, Monetary Authority of Singapore's (MAS) managing director Ravi Menon said banks' capital management should be approached "from a position of strength".
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
OCBC consumer banking chief Sunny Quek aims to double wealth business by 2029
‘We’re not a bubble tea brand’: Chagee aims to double Asia-Pacific footprint to 600 stores by 2027
UMS Integration closes 10.2% higher after posting ‘strong’ double-digit sales growth in Q1
