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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...

```html Understanding How Business Loans Work In today's dynamic economic environment, business loans play a crucial role in supporting the growth and sustainability of businesses. Whether you're a startup looking to get off the ground or an established company seeking expansion, understanding how business loans work is essential for making informed financial decisions. What is a Business Loan? A business loan is a sum of money borrowed from a financial institution or lender to fund various business needs. These needs can range from expanding operations, purcha...

Student loans are a popular way to finance higher education, especially for students who cannot afford tuition, books, and living expenses upfront. If you’re planning to take out a student loan or simply want to understand the process, this guide breaks it down step by step. What Are Student Loans? Student loans are a type of financial aid designed to help students cover the cost of college or university. Unlike scholarships or grants, which don’t require repayment, student loans must be paid back with interest over time. Types of Student Loans The...

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 ...

Singapore, a small island nation in Southeast Asia, has become a global hub for wealth management in recent years. The city-state's success in this field can be attributed to several factors, including its favorable business environment, strong regulatory framework, and strategic location. In this blog post, we'll explore the reasons behind Singapore's rise as a hub for wealth management. Favorable Business Environment Singapore has consistently ranked as one of the world's easiest places to do business. The World Bank's Doing Business report has consis...

DBS is one of the leading banks in Singapore, and its internet banking service offers customers a convenient way to manage their accounts and carry out transactions. If you're a DBS customer, you can register for internet banking in a few easy steps. Here's how: Step 1: Visit the DBS website To register for internet banking, you'll need to go to the DBS website at www.dbs.com.sg. Once you're there, click on the "Login" button in the top right-hand corner of the screen. Step 2: Click on "Register for Internet Banking" On the login page, you'll see a but...

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...

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...

At the time of writing this blog post, there are no known widespread problems with DBS Bank. However, like any financial institution, there may be occasional technical glitches or isolated issues affecting individual customers. DBS Bank is one of the largest banks in Asia and is known for its innovative digital services and strong financial performance. The bank has consistently received high ratings from credit agencies, which is a testament to its financial stability and sound management. That being said, customers may experience occasional issues with the...

1. The Rise of Mobile Wallets and Contactless Payments Mobile wallets, such as GrabPay, PayNow, and Apple Pay, have been steadily gaining traction in Singapore. In 2025, we can expect even greater integration of contactless payments across various industries, making transactions faster and more convenient than ever. 2. Blockchain and Cryptocurrencies: The Future of Secure Payments Blockchain technology has the potential to revolutionize digital payments by offering a decentralized, transparent, and secure method for transferring funds. By 2025, blockchain-pow...

LONDON/HONG KONG (REUTERS) - HSBC has cut a number of top management roles in its investment bank, memos seen by Reuters showed, a sign that chief executive Noel Quinn is pressing on with plans to shake up the group despite having put a wider job cut programme on hold. CEO Quinn last month announced a temporary halt to plans for 35,000 redundancies across the bank because of the impact of the coronavirus pandemic. Quinn, who took on the permanent CEO role in March after a lengthy audition process during which Chairman Mark Tucker courted several external can...

On February 10, 2023, DBS Bank, one of the largest banks in Singapore, experienced a major outage that affected many of its services. The outage lasted for several hours, causing widespread frustration among customers who were unable to access their accounts or make transactions. The cause of the outage is still unknown, but DBS has apologized for the inconvenience and promised to investigate the issue. The DBS banking outage affected many of the bank's services, including its mobile app, internet banking, ATMs, and card transactions. Customers were unable to a...

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...

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 ...

Operates as a neighborhood of China Taiping Insurance Group, one among the main insurers in Asia Pacific with 20 subsidiaries across the planet , including China , Hong Kong, Macau, Singapore, Japan, Indonesia, the uk , Netherlands and New Zealand, headquartered in Hong Kong. China Taiping Insurance Singapore delivers comprehensive solutions covers motor, home, travel, personal accident, fire, public liability, marine, work injury compensation, contractors’ all risks, surety bond , foreign workers’ medical insurance and trade credit insurance etc. Company's ...