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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.

1. Facilitating Trade and Investment Singapore’s strategic location has made it a global trade and investment hub. Banks play a vital role in facilitating international trade by providing financial instruments such as letters of credit, trade financing, and foreign exchange services. This enables businesses to engage in seamless cross-border transactions, boosting Singapore’s reputation as a global financial center. 2. Supporting Business Growth and Innovation Banks in Singapore play a key role in supporting small and medium-sized enterprises (SMEs) by offeri...

1. The Role of the Monetary Authority of Singapore (MAS) The Monetary Authority of Singapore (MAS) is the key regulatory body overseeing the financial services industry in Singapore. MAS plays a critical role in ensuring the stability and integrity of the financial system while encouraging innovation in the fintech sector. 2. Fintech Regulatory Sandbox One of the standout features of Singapore’s regulatory environment is the Fintech Regulatory Sandbox introduced by MAS. This sandbox allows fintech startups to test their innovative products, services, and busi...

ICICI Bank Singapore Swift Code Swift code of ICICI Bank Singapore is: ICICSGSG ICICI Bank Singapore is an Indian bank which is operating in Singapore for a very long time and they targeted Singapore and their main market. However since Singapore is a small country in terms of the sizes, they do not focus on running too many branches in all around the nation and therefore they have located only 3 branches in some but most popular parts of Singapore. In addition to this, they offer services via various means such as ATMs, branches, telephone banking and inter...

Credit Suisse Group AG’s APAC business recorded the highest level of credit provisions for potential loan losses across each of the bank’s major divisions, reports Reuters, based on the lender’s Q2 results. The Swiss-based lender made $88.66m in provisions for credit losses in APAC for Q2, down 16% from around $105.96m in Q1. The lender named four individual potential bad-loan cases in the region, up from three in the Q1. APAC accounted for most of Credit Suisse’s loan loss provisions in Q2, ahead of the $84.12m for global markets and around $73.21m in in...

In today’s fast-paced world, making informed financial decisions is essential. Whether you're planning to buy a house, finance a car, or consolidate debt, a loan calculator is a powerful tool that can save you time and money. This blog will explore the best loan calculators available online to help you understand your borrowing options and monthly repayments. Why Use a Loan Calculator? Loan calculators provide an easy way to estimate monthly payments, total interest, and the overall cost of a loan. They can help you: Compare different loan options. ...

LONDON (REUTERS) - HSBC will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between US$750 billion (S$1 trillion) and US$1 trillion in financing to help clients make the transition, its chief executive officer (CEO) Noel Quinn told Reuters. In the strongest statement by Europe's biggest bank on climate change to date, its CEO outlined HSBC's ambitions to align its activities with the Paris Agreement. "Covid has been a wake-up call to us all, including me personally, we have seen how fragile the global econ...

1. Understanding High-Interest Savings Accounts High-interest savings accounts offer a higher rate of return compared to standard savings accounts. These accounts are designed to help you earn more on your deposited funds by offering interest rates that outpace inflation and regular bank account yields. In Singapore, many banks offer competitive interest rates, and it's essential to know how to leverage these offers to maximize your savings. 2. Compare Different Banks and Their Interest Rates Not all high-interest savings accounts are created equal. Inter...

Measures aimed at easing cash flow concerns to include education, vehicle and renovation loans Individuals can choose to temporarily halt payments for education, renovation and motor vehicle loans, in a move by the Monetary Authority of Singapore (MAS) and the finance sector to ease cash flow concerns amid the coronavirus pandemic. Those with commercial or industrial property loans, as well as mortgage equity withdrawal loans, can also apply to their banks to defer payments until the end of this year, subject to certain requirements. Service fees that are...

Coface Singapore is a branch of Coface Group (Compagnie Française d’Assurance pour le Commerce Extérieur), world leader in credit insurance with 4,440 employees, represented in 66 countries. Coface’s branch in Singapore was established as a representative office in 1995 and currently offers whole turnover, single and political risk insurance, providing a comprehensive cover for both commercial and political risks, participating in various government schemes to support Singaporean companies. Company's insurance products and services Globalliance (Preven...

DBS Bank is a Singaporean multinational bank that provides a wide range of financial services to individuals and businesses across Asia. One of the key aspects of DBS Bank's service delivery is its state-of-the-art banking halls, which provide customers with an unparalleled banking experience. The DBS banking halls are designed with the customer in mind, providing a comfortable and welcoming environment where customers can carry out their banking transactions in a stress-free manner. The banking halls are equipped with modern technology, including self-service ...

HONG KONG (BLOOMBERG) - Before the accounting scandal and the stock crash and the defaulted loans, Luckin Coffee's billionaire founder Lu Zhengyao was an ideal customer for Credit Suisse Group. "I've had I don't know how many dinners with him in Beijing and he's absolutely the poster child for what we want to do," Tidjane Thiam said at a conference last year when he was still head of the bank. He lauded Lu's relationship with the firm that ranged from private banking to stock sales. "He's a dream client." Luckin's dramatic fall from grace this month blindsid...

SBI Singapore values all of their customers. You can get in contact with SBI Singapore for any suggestions, enquries, compliments, feedback. In order to get in touch with SBI Singapore please select the category of the suggestion, feedback and compliments and provide them details with the dialogue box. The SBI Singapore team will get in touch with you as soon as possible. SBI Singapore Phone Numbers SBI Singapore phone numbers are down below: For helpdesk please dial 1800 724 74 64. You can call this number Monday to Friday. Between 9.30 am to 5.45 pm...

Recently, DBS Bank, one of the largest banks in Singapore, experienced a technical glitch that affected its banking services. The glitch occurred on 28th January 2023, and it resulted in several customers being unable to access their accounts, make transactions, or use the bank's mobile and online services. The incident has caused inconvenience and frustration for many of the bank's customers and raised concerns about the reliability of banking technology. The cause of the glitch has not been fully disclosed, but it is believed to be related to a software updat...

Singapore has emerged as a hub for fintech in recent years, with the government actively encouraging the development of the industry. Fintech, which refers to the use of technology to provide financial services, has grown rapidly in Singapore due to its supportive regulatory environment, strong financial infrastructure, and highly skilled workforce. In this article, we will explore the trends and developments in the fintech industry in Singapore. Digital Payments One of the most significant developments in fintech in Singapore is the rise of digital pay...