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LONDON • Problem loans at some of Standard Chartered's large clients may top US$600 million (S$851 million) as a string of corporate scandals coincides with woes at firms hit by the coronavirus pandemic. NMC Health, the hospital operator that has uncovered evidence of fraud, and Hin Leong Trading, the Singapore oil trader being investigated by police, represent nearly US$500 million of lending for Standard Chartered, according to public filings. Separately, a South African farm bank that the London-based company lends to has defaulted on some of its debt.

INFRASTRUCTURE financing platform Bayfront Infrastructure Management has inked partnerships with 15 global banks in its first month of operations. DBS, OCBC, Citi, Standard Chartered, ABN-AMRO, BNP Paribas, and Santander are among the first banks from which Bayfront will...

DBS Bank Singapore Branches DBS Bank Singapore is the greatest financial institution in Singapore which is owned by the DBS Group. The headquarter of the bank is located in Singapore in which the amount of DBS Bank Singapore branches is 36 and they are located in various parts of the country. It is one of the banks which have the most branches with a lot more ATM all around the nation. Since it is the greatest local bank in the nation, all of the employees in DBS Bank Singapore branches are well educated and aware of the needs of the retail. DBS Bank Singapore ...

1. Create and Stick to a Budget A well-structured budget helps you track your income and expenses. Prioritize essential expenses such as rent, utilities, and groceries while allocating a portion of your income towards savings and investments. 2. Build an Emergency Fund Having a financial cushion can protect you from unexpected expenses like medical emergencies or job loss. Aim to save at least three to six months’ worth of living expenses in an easily accessible account. 3. Reduce Unnecessary Expenses Evaluate your spending habits and cut back on no...

DBS is a leading financial services provider in Asia, offering a range of banking and financial services to its customers. One of the questions that many people have about DBS is whether their debit card can be used as a credit card. The short answer is no, but there is more to it than that. First, it's important to understand the difference between a debit card and a credit card. A debit card is linked to your bank account and allows you to access the money you have in your account. When you use a debit card, the funds are immediately deducted from your accoun...

The Growing Influence of Cryptocurrencies in Singapore Singapore has long been known for its strong financial services sector. As cryptocurrencies become more mainstream, the city-state has embraced the opportunity to integrate digital currencies into its robust financial infrastructure. The government and regulatory bodies, such as the Monetary Authority of Singapore (MAS), have been proactive in establishing a regulatory framework for cryptocurrencies, providing a secure environment for both businesses and investors. Regulatory Environment One of the ke...

Standard Chartered Singapore Standard Chartered Singapore is a British bank which offers banking services for more than 150 years in Singapore. They are one of the first international banks which received the QFB license and they still continue to serve their customers who already exceed the million in terms of the numbers. They offer all types of services from credit cards to wealth management, personal loans to business loans, debits cards to debt capital markets. They also have a great serving understanding which aims to please each of their customers regard...

SINGAPORE (THE BUSINESS TIMES) - UK-based payments fintech firm Revolut has appointed Mr James Shanahan - previously the chief operating officer (COO) of insurtech company Singapore Life - as its Singapore chief executive officer to lead the growth of its Asia business. The firm has also hired former Credit Suisse managing director Rayson Tan as its new chief compliance officer, chief risk officer and head of legal in Singapore. Ms Pam Chuang, previously the vice-president of sales and partnerships at fintech firm GoBear, has also joined Revolut as its new hea...

HSBC Insurance Singapore (a subsidiary of HSBC bank) is one among the leading companies, providing traditional life assurance and investment-linked plans for people and their families within the country. Globally, HSBC Insurance employs around 6,500 people in over 20 countries and territories. In Singapore, the corporate has over 650 customer-focused employees, along side international and native brokers, and financial planners providing customers with comprehensive life assurance products and services. Company's insurance products and services Personal I...

ICICI Bank Singapore ICICI Bank Singapore is one of the other Indian banks that is operating in India for a very long time. The ICICI company is operating in 19 different countries and they have chosen Singapore as one of their main markets and they have fully understood the customs and needs of the Singapore citizens. That is why, they offer really extensive services and they carry out offering their services through various channels such as telephone banking, internet banking, ATMs, and branches. They have a limited amount of branches which is only limited to...

Singapore CIMB Singapore has raised the ire of customers with its move to raise the floor of certain mortgages pegged to the one-month Singapore interbank offered rate (Sibor) - with that floor rate now higher than the prevailing market rate. From May 18, customers on CIMB's...

ATM cash withdrawals are expected to fall by 5.5% during the year. The number of card payments in Japan will grow by 2.6% in 2020, according to forecasts by data and analytics firm GlobalData. At the same time, ATM cash withdrawals in the country are sighted to shrink by 5.5% over the year due to the coronavirus pandemic. The pandemic is expected to push digital payments transaction value and volume among consumers and merchants as they shift away from cash payments to avoid exposure to disease vectors such as cash and POS terminals, noted GlobalData in a re...

OCBC Bank Singapore Oversea Chinese Banking Corporation Limited which is also known as OCBC bank is the second largest banking institution in Singapore after the DBS Bank. They are headquartered in China and they offer their expertise in this field in Singapore. It is also one of the most trusted banking institutions in the country which have many branches and ATM all around the country. Singapore is one their main markets which comes right after China and they have quite lots of clients in the nation. They serve both local and international customers includ...

How Banks Earn Profit Understanding How Banks Earn Profit When it comes to the financial sector, one of the key questions that often arises is how banks earn profit. In this blog post, we will delve into the various strategies and mechanisms that banks employ to generate revenue. Interest Income One of the primary ways banks earn profit is through interest income. Banks offer loans to individuals and businesses, charging interest on the amount borrowed. The difference between the interest paid to depositors and the interest received from borrowers consti...

Margins are expected to shrink 6-10 bps compared to Q4 2019. Singapore’s big three banks are expected to post an average 38% YoY fall in earnings for the Q1 period on the back of spiking credit costs and falling credit card income, according to a report by Jefferies. Meanwhile, the banks’ non-interest income is expected to contract by 6-13% YoY, whilst revenue for the three banks will fall 2-4% YoY, due to falling card income, wealth management income, and weak stock prices. Whilst system loans and deposits grew 3.5% and 4.9% YTD respectively, pushed by b...