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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...

The bank has approved three times more loans in March compared to January. United Overseas Bank (UOB) today announced that it will be offering pre-approved loans of up to $200,000 to help ease the short-term liquidity woes of small businesses impacted by the COVID-19 pandemic, the bank announced. The collateral-free loan is intended to help small businesses, which make up two in three of all small- and medium-sized enterprises in Singapore, especially those from hard-hit sectors such as retail and food and beverage, said UOB. The bank has approved three t...

Maybank Singapore Maybank Singapore is the first Islamic bank that began to operate in Singapore and it is also the first bank to offer Islamic banking to retail customers. They have been serving in Singapore since 1960 and they are the only bank to receive three of the high-quality service awards in Singapore. They have more than 1600 employees and they offer services to 27 different destinations in the country. Besides they have a high amount of ATM all across the country, they have also made agreements with other 7 banks in order to increase their availabili...

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...

Debt consolidation loans can be a lifesaver for individuals struggling with multiple debts. By combining various debts into one loan, you can simplify payments and possibly secure a lower interest rate. But with so many options available, it can be challenging to know which banks offer the best debt consolidation loans. In this blog post, we'll explore top banks offering these loans and help you make an informed decision. What is Debt Consolidation? Debt consolidation involves taking out a single loan to pay off multiple outstanding debts. This can help simp...

Singapore is a hub for finance and banking in Asia and is home to some of the leading financial institutions in the region. The city-state offers a stable political and economic environment that has attracted a large number of banks, investment firms, and other financial institutions from around the world. These financial institutions provide a wide range of services including retail banking, wealth management, investment banking, and corporate finance. The leading financial institutions in Singapore include both local and international players, each offering u...

How Does Plaid Integrate with Banks? Plaid is a financial technology company that provides APIs to enable applications to connect with users' bank accounts. In this blog post, we will explore how Plaid integrates with banks and facilitates secure data transfer between financial institutions and third-party apps. Understanding Plaid's Role Plaid acts as an intermediary between banks and third-party applications, streamlining the process of accessing and sharing financial data. Through Plaid's APIs, developers can build applications that interact with users' bank...

SINGAPORE (BLOOMBERG) - Charles Wong, Citigroup's former retail banking head in Singapore, has joined a new venture between Grab Holdings and Singtel that's competing for a digital bank licence. The Grab-Singtel joint venture said it's starting to fill critical roles because it will take time to build a new digital banking service in the South-east Asian financial hub. Mr Wong will be senior managing director of the digital bank as it starts up. "We remain committed to investing in and hiring talent despite the current Covid-19 situation," Grab and Singtel s...

```html Understanding How Home Equity Loans Work Home equity loans have become a popular financial tool for homeowners looking to leverage the value of their property. But how do home equity loans work, and what should you know before considering one? In this comprehensive guide, we’ll break down the essentials of home equity loans, their benefits, potential risks, and the process involved in obtaining one. What is a Home Equity Loan? A home equity loan is a type of loan that allows homeowners to borrow money by using the equity in their home as collateral. Equ...

Bangkok Bank Singapore Swift Code Here is the Bangkok Bank Singapore Swift Code: BKKBSGSG Bangkok Bank Singapore is a Thailand bank that is serving in Singapore for a very long time and they managed to earn the trust of the businesses in Singapore. We only noted businesses since this bank only offers services to the corporate customers. This means that you need to run a business in Singapore in order to become their customer. They are one of the most reliable banking institutions in Singapore which can lend major loans at once when compared to the other bank...

EQ Insurance may be a Singapore-based multinational insurance company with profitable portfolio of non-life insurance business. The company’s core values are to make sure that customers enjoy a seamless enquiry, application and payment process, and enjoy quality products, advice and consistent information when purchasing a policy or enquiring on a claim. Company's insurance products and services Insurance Plans for Individuals: EQ Travel EQ Motor EQ HomeGuard EQ Hospital & Surgical EQ Hospital Income & Medical EQ Maid EQ Personal Acciden...

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...

```html How to Apply for Student Loans: A Comprehensive Guide Embarking on the journey of higher education is an exciting venture, but it often comes with the question of financing your studies. For many students, applying for student loans is a crucial step in making their educational dreams a reality. In this guide, we will walk you through the process of how to apply for student loans, ensuring you have all the information you need to make informed decisions. Understanding the Types of Student Loans Before diving into the application process, it is essential...

ICICI Bank Singapore Branch ICICI Bank Raffles Quay Branch (with 24/7 Remittance Kiosk) 6 Raffles Quay, Singapore 048580 Opening hours: Monday to Friday: 09.30 am – 3.30 pm Saturday, Sunday and Public Holidays: closed Tel: +(65) 67239009 E-mail: sg.service@icicibank.com ICICI Bank Little India Branch (with 24/7 Remittance Kiosk) 184, Serangoon Road, Singapore 218061 Opening hours: Monday, Wednesday to Friday: 2.30 pm – 8.00 pm Saturday to Sunday: 12.00 pm – 8.00 pm Tuesday and Public Holidays: closed Tel: +(65) 67239009 E-mail: sg.service@icici...

```html How Do Banks Benefit from Credit Cards? Credit cards are not just a convenient tool for consumers; they are also a significant source of revenue for banks. While consumers enjoy the flexibility and purchasing power that credit cards offer, banks reap numerous benefits. In this article, we will explore the various ways in which banks benefit from credit cards, shedding light on an important aspect of modern financial systems. Interest Income One of the primary ways banks benefit from credit cards is through interest income. When cardholders do not pay the...