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SINGAPORE (THE BUSINESS TIMES) - DBS on Thursday (April 30) guided that its oil-and-gas (O&G) lending portfolio at $23 billion makes up its single-largest loan exposure to impacted industries made vulnerable by the Covid-19 pandemic, and that it expects further allowances set aside specifically for O&G support services. This comes as the bank reported a 29 per cent fall in Q1 net profit that brought its earnings to its lowest level since 2017. Singapore’s largest bank opened the results season for the local trio with a large bump in allowances set aside to prep...

We have shared the swift code of HSBC Singapore Bank with you in the following. The swift code is a code unique to banks and used in international money transfers. Swift codes are specified separately for each available bank. When someone is going to transfer you money from abroad or when you will transfer money to abroad, the process needs to be carried out with the swift code of the receiver bank. This means that swift code is more important than the name of the bank during the transactions. Swift system is quite beneficial and systematic due to it offers both s...

SINGAPORE (THE BUSINESS TIMES) - The Singapore Tourism Board (STB) and DBS are partnering to stimulate domestic tourism demand in the immediate term as well as drive cross-border demand and tourism industry development in the middle to long term. They have inked a three-year memorandum of understanding (MOU) in the first such collaboration between STB and a local bank. The tie-up will leverage DBS's services - such as its travel marketplace portal, digital payments collection solutions, predictive analytics and the bank's everyday app DBS PayLah! - to "help ...

In today's globalized world, people are constantly traveling overseas for business, education, and leisure. With the increasing reliance on technology for financial transactions, it is crucial to know if one can use their bank's internet banking service, such as DBS iBanking, while overseas. The answer is yes, DBS iBanking can be used overseas. The bank's internet banking service is available 24/7, regardless of the location of the user. This means that users can access their accounts, view their transaction history, and make payments and transfers from anywher...

SINGAPORE (BLOOMBERG) - All three of Singapore's banks are expected to see profit declines for the first time since 2016 as they set aside cash for a potential spike in bad loans stemming from the coronavirus-fueled economic slump. Net income at each lender probably slid between 21 per cent and 28 per cent in the three months ended March 31 from a year earlier, according to the average estimates of six analysts surveyed by Bloomberg. DBS Group Holdings, the nation's largest bank, may post the steepest profit drop when it kicks off earnings season on Thursday (A...

Opening a bank account in Singapore can be a tricky process, especially for foreigners. However, with the right documentation and preparation, it is possible for foreigners to open a bank account in Singapore with the Development Bank of Singapore (DBS). DBS is one of the largest banks in Singapore and offers a variety of banking services for individuals and businesses. As a foreigner, you can open a DBS bank account as long as you meet certain requirements and have the necessary documentation. The first step in opening a bank account with DBS as a foreigner...

OCBC Bank's annual general meeting (AGM) will be held virtually on May 18, the lender told shareholders in an announcement yesterday. It is the second local bank to state its virtual AGM plans, after DBS Bank did so in mid-month amid the coronavirus outbreak. OCBC said earlier this month that it would postpone the meeting, which had been scheduled for April 30, pending changes to the law and rules on safe distancing and AGM teleconferencing. Now, the bank has confirmed that shareholders cannot attend the AGM in person. Instead, they must pre-register for ...

Banks play a crucial role in Singapore's economy, serving as the backbone of its financial system. The country's banking sector is highly developed, sophisticated, and diversified, with both local and international banks operating in the country. Here are some key aspects of the role of banks in Singapore's economy: Intermediation and Credit Allocation: Banks in Singapore play a critical role in intermediating between savers and borrowers, channeling savings into productive investments. They provide credit to businesses, households, and individuals, fa...

The banking sector in Singapore is home to a number of elite banks that offer a range of financial services to individuals, businesses, and corporations. These banks are known for their strong reputation, innovation, and commitment to customer service, and they play a crucial role in supporting the growth and development of the country's economy. DBS Bank is one of the elite banks in the Lion City and is the largest bank in the country. With a focus on innovation and customer-centric services, DBS Bank offers a wide range of services including retail banking, w...

A more flexible Payment Services Act makes it easier for fintechs to apply full operations in Singapore. The Monetary Authority of Singapore (MAS) has finally commenced the new Payment Services Act (PSA), repealing the Money-changing and Remittance Businesses Act and the Payment Systems (Oversight) Act. The new act, launched in January 2020, covers new types of payment services, such as digital payment token services, and adopts an activity-based licensing framework. It is expected to be enhanced under the new PSA in an effort to strengthen consumer protecti...

ANZ Singapore Branches ANZ Singapore is an Australian and New Zealand joint venture which is offering services through various means in Singapore for a very long time. They offer their services with the high-quality European understanding and they managed to combine this quality with the needs of the Asian people. They have more than [su_label type="black"]20 branches[/su_label] in all around the country with many kiosks which offer 24/7 services all the time. However, they have a limited number of branches in the country which is only three but all of them are...

```html Why Do Banks Have High Debt to Equity? In the complex world of finance, banks often exhibit a characteristic that might seem counterintuitive to many: a high debt to equity ratio. This financial metric, which compares a company's total liabilities to its shareholder equity, is a crucial indicator of financial health. But why do banks have high debt to equity ratios, and what does this mean for their operations and stability? Let's delve deeper into this intriguing topic. Understanding the Debt to Equity Ratio The debt to equity ratio is a financial rati...

ATM machines have been around for a few decades now and have revolutionized the way we handle our money. They have made banking more accessible and convenient, enabling people to access their accounts and conduct transactions 24/7. One of the common transactions that people do at ATMs is depositing cash. This is a convenient way to add funds to your account without having to visit a bank branch. However, some people wonder if ATMs, specifically DBS ATMs, can handle cash deposits. The answer is yes. DBS ATMs are designed to accept cash deposits, and the proce...

DBS Bank, also known as the Development Bank of Singapore, is a multinational banking and financial services corporation headquartered in Singapore. It is one of the largest banks in Southeast Asia and has a significant presence in the region. The bank is known for its innovative approach to banking, with a focus on digital transformation and sustainability. One of the most common questions asked about DBS Bank is whether it is listed on a stock exchange. The answer is yes. DBS Bank is listed on the Singapore Exchange (SGX) under the ticker symbol DBS. It is al...

DBS Bank is a well-known financial institution based in Singapore that provides a wide range of financial products and services to its customers. One of its key offerings is its internet banking platform, which enables customers to access their accounts and perform transactions online from anywhere and at any time. If you're a DBS Bank customer and are looking to learn how to log in to your internet banking account, this blog post will guide you through the process. Step 1: Access the DBS Internet Banking Login Page The first step to logging in to your DBS i...