Financial Services
Investment banking fee revenue down 58.7% to $134m in Q1
Investment banking fee revenue down 58.7% to $134m in Q1
Advisory fees for M&A deals plunged 80.4% YoY to $16.04m.
Daily Briefing: MAS launches $86.6b swap facility with US Fed; Singapore, New Zealand to maintain open supply chains amidst virus outbreak
And Scoot has temporarily suspended flights to 49 destinations.
MAS fines accounting firm for anti-money laundering lapses
The firm failed to vet transactions at risk for money laundering and terrorism financing.
MAS bans six individuals for fraud
Four former insurance agents and two bank employees were charged.
Fintech startup MatchMove applies for digital bank license
It partnered with lender Singapura Finance and other fintechs for its bid.
Insurtech Gigacover powers caregiving app Homage's benefits programme
Members will gain access to 500 clinics in Singapore through Gigacover’s mobile app.
Revolut brings Apple Pay to Singapore
Users can add their cards to Apple Pay using the Revolut app.
OCBC's growth dampened as US Fed cuts rate
NIM forecast has been slashed to 1.68% as NPL ratio could rise to 1.9%.
Genie Financial Services to grant auto loans to COVID-hit SMEs
Loans are offered up to $50,000 per firm.
DBS extends enrollment deadline for COVID-19 relief insurance
The policy recorded more than 52,000 sign-ups in a day during its peak.
Singapore banks on downward spiral after US Fed cuts rate to nil
Loan yields are sighted to decline due to the lower benchmark rate.
AIA Singapore launches new policy features vs COVID-19
The enhancements are available to HealthShield Gold Max policyholders.
MAS says that local financial market is functioning normally
The regulator has left a higher level of liquidity in the banking system.
HSBC Singapore floats relief measures for mortgage, credit card customers
The bank has halved the revolving interest rate for up to six months.
COVID-19 could drive DBS and OCBC's dividends to over 6%
But net profit forecasts had been cut by 5.8% and 3.7%, respectively.
AIA Singapore's 2019 operating profit hikes 6% to $813m
Total weighted premium income rose 8% to $4.07m.
OCBC launches cheque encashment service in select ATMs
Customers will be able to encash up to $30,000 in a single cheque in ATMs at 23 branches.
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