Financial Services

DBS profits up 26% to $1.52b in Q1

Net interest margin rose 9 bps due to a strong Singapore dollar.

MAS sets standards for accountability of financial managers

It launched a public consultation for 3 guidelines that FIs should follow.

Singapore to cut length of fintech patent applications to six months

Applicants need to furnish a “Fast Track” document to be recognised as fintech.

Citi links credit card to Apple Pay's system

The service was simultaneously launched in Australia and Hong Kong and will be rolled out to Taiwan later this year.

Singapore and Vietnam tie up for fintech cooperation

Additionally, the two countries also revised a partnership on banking supervision.

E-payment platform UNPay launched in Singapore

The platform, which has been tapped by Alibaba and Baidu, previously raised US$63m from initial funding.

Chart of the Day: 96.5% of taxpayers filed their tax returns on-time

About 780,000 of them filed tax returns electronically.

OCBC appoints Dennis Hong as managing director of OCBC Securities

He has been the deputy managing director of OCBC Securities since 15 March 2018.

Chart of the Day: Asian currency unit beats domestic banks in loan growth

ACU loans grew 14% in February and are now driving overall loan growth.

Australian banks speed up Asian retreat as competition and oversight mounts

Amidst tighter regulatory pressures, analysts weigh in on whether Asia is still a market worth conquering.

DBS launches cross-border payment tracker in Singapore and Hong Kong

Over 200,000 corporate and SME clients will be able to use the service.

APAC banks grapple with growing property risks

Rising property loans and household indebtedness may pose problems for banks’ balance sheets soon.

Singapore adopts standards for cross-border payments

MAS supports the initiative to o help arrest the decline in correspondent banking relationships.

MAS tightening to bolster Singapore banks' performance

Banks are set to benefit from rising loans which grew 10%, as well as higher SGD and USD interest rates.

Chinese banks may ramp up lending amidst $63.62b additional liquidity

Reserve requirement ratio for big commercial banks will be lowered from 17% to 16%.

Homegrown P2P lending platform Funding Societies raised US$25m

Its Series B funding round was led by Softbank Ventures Korea and Sequoia India.