UOB 'unfazed' by move for local incorporation of foreign banks

The MAS directive allow them up to 25 new outlets.

According to Maybank Kim Eng:

Unfazed by move to locally incorporate foreign banks. Management is unfazed by the move to locally incorporate foreign banks while allowing them up to 25 new outlets, which would take the number of outlets to 50 for Qualified Full Banks.

UOB has 75 branches in Singapore. As it stands, internet banking is pervasive in Singapore, while the cost of setting up new branches is prohibitive. Where we do see competition heating up, however, is in terms of deposit gathering, which could further pressure funding costs.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley