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Higher than expected credit losses and other impairment charges (ECL) dragged down HSBC’s H1 2020 profits by 69% to $3.1b, including a $1.2b impairment of software intangibles mainly in Europe, according to an announcement. Revenue slipped 9% to $26.7b on the back of interest rate cuts and market impacts in life insurance manufacturing and adverse valuation adjustments in global banking and markets, the bank said. Net interest margin went down 18bp to 1.43% for H1 whilst also declining to 1.33% for Q2 2020. Reported ECL hiked to $6.9bn as a result of the pan...

Singapore is known as one of the most developed financial centers in the world. The country’s economy has been built around its thriving financial sector, which has made it a popular destination for global investors and multinational corporations. Singapore’s financial sector is composed of various subsectors, including banking, insurance, asset management, and fintech. While this diversity offers many opportunities, it also means navigating through the complexities of the Singapore financial sector can be daunting. In this blog post, we will explore some of the k...

TOKYO (AFP) - The Bank of Japan on Monday ramped up its emergency monetary easing and cut growth forecasts for the world's third largest economy, as the coronavirus pandemic ravages the globe. After a meeting shortened from two days to one, the central bank said it would shift to unlimited government bond buying and more than double its capacity to purchase corporate bonds and commercial papers - a move to support Japan Inc's financing as the country grapples with fallout from the virus. The announcement comes as central banks around the world revert to extr...

Singapore is home to a number of prominent banks that offer a wide range of services to individuals, businesses, and corporations. These banks have established a strong presence in the market and are known for their stability, security, and quality service. DBS Bank is one of the most prominent banks operating in Singapore and is the largest bank in the country. It provides a full range of services including retail, wealth management, and corporate banking. OCBC Bank is another prominent bank in Singapore and is the oldest bank in the country. It offers a wide ...

BNP Paribas Singapore has been present in the country since 1968. BNP Paribas Singapore currently employs more than 2 thousand 200 people. The bank offers services and products such as wealth managament, financing solutions, capital markets and advisory. BNP Paribas Singapore is the Group’s hub for Southeast Asian market which are Singapore, Malaysia, Thailand and Vietnam. BNP Paribas Singapore Awards and Ranking BNP Paribas Singapore awards has been recognised in entire Asia Pacific region. BNP Paribas Singapore awarded with the most prestigious awards in ...

Bank of India Singapore Swift Code The swift code of Bank of India Singapore: BKIDSGSG Bank of India Singapore is the second biggest Indian banking institution which is offering services in Singapore since the year of 1951. They are one of the reliable banking institutions which have the highest customer retention rates. This is maybe because they offer services to the limited audience due to the low amount of branches they launch in Singapore. They have only 2 branches but both of them are located in the most popular financial district of Singapore. In the ...

Singapore is home to a thriving financial industry, where first-rate banks offer a comprehensive range of services to individuals, businesses, and corporations. These banks have established themselves as leading players in the industry, offering innovative solutions, exceptional customer service, and a deep commitment to helping their clients achieve their financial goals. DBS Bank is one of the first-rate banks in Singapore, and is the largest bank in the country. With a focus on innovation and customer-centric services, DBS Bank offers a wide range of service...

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...

DBS and POSB are two of the most popular banks in Singapore, and many people often wonder if they are the same or not. Although both are part of the DBS Group, they are different entities with their own unique features and functions. DBS Bank is the largest bank in Southeast Asia and offers a wide range of banking and financial services. It caters to both individuals and businesses, providing services such as savings accounts, loans, credit cards, investment management, insurance, and more. It has branches all over Singapore and other countries in the region. ...

The banking scene in Singapore is dominated by a number of major players that offer a wide range of services to individuals, businesses, and corporations. These banks have established a strong presence in the market and are known for their stability, security, and quality service. DBS Bank is the largest bank in Singapore and provides a full range of services including retail, wealth management, and corporate banking. It is known for its innovative products and services, making it one of the most technologically advanced banks in the region. OCBC Bank is the ol...

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...

Standard Chartered Singapore Branch Standard Chartered Singapore is a British bank which operates in Singapore for a really long time and they managed to harmonize the British banking understanding with the unique needs of the Asian people. One of the issues that they pay a great attention is that they always want to increase their banking network in Singapore and maybe this is the main reason why always make agreements with other banks in order to share their ATMs. In this way, a Standard Chartered Singapore bank client can withdraw money from anywhere in Sing...

Cryptocurrencies have been making waves in the financial landscape across the globe, and Singapore is no exception. The country has been known for its pro-business policies and innovative approach to technology, which has made it a hub for fintech startups and digital banking services. In this blog post, we'll explore the impact of cryptocurrencies on Singapore's financial landscape and the ways in which the country is embracing this new form of digital currency. Cryptocurrencies and Regulations Singapore has been one of the most forward-thinking ...

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...

```html How Do Banks Refund Scammed Money? In today's digital age, online scams have become increasingly sophisticated, leaving many individuals vulnerable to financial fraud. When someone falls victim to a scam, a common question arises: how do banks refund scammed money? Understanding the processes involved can provide peace of mind and help individuals take the right steps toward financial recovery. Understanding Bank Responsibilities Banks have a crucial role in protecting their customers' financial assets. When it comes to refunding scammed money, banks fo...