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SINGAPORE - Bank lending inched down in March from the previous month amid the coronavirus outbreak, as a drop in consumer loans offset a rise in business lending, preliminary data from the Monetary Authority of Singapore (MAS) showed on Thursday (April 30). Loans through the domestic banking unit, which captures lending in all currencies but reflects mainly Singapore-dollar lending, dipped 0.1 per cent in March from February. Total lending stood at $692.4 billion in March, compared with $692.85 billion in February. It also rose 2.4 per cent over the same mo...

A Strategic Location for Wealth Management Singapore’s strategic geographical location has played a critical role in its rise as a wealth management hub. Situated at the crossroads of Asia, Singapore is an ideal base for investors looking to access key markets in Southeast Asia, China, and India. The city-state’s proximity to emerging markets, combined with its political stability, makes it an attractive option for global wealth management. As one of the world’s busiest financial centers, Singapore offers seamless access to both Western and Asian investment ...

AIG Singapore (AIG Asia Pacific Insurance Pte) may be a wholly-owned subsidiary of AIG – a world leading insurance services provider serving quite 70 million clients round the world. In Singapore, AIG serving customers since 1953, being one among the most important General Insurance companies within the country, providing a comprehensive range of insurance packages, aimed to guard both individual consumers and commercial clients. AIG’s innovative solutions covering customers’ Auto, Home, Travel, Personal Accident, Professional Liability, Employer Liability,...

DBS Bank is a well-known financial institution based in Singapore that provides a wide range of financial products and services to its customers. One of its key offerings is its internet banking platform, which enables customers to access their accounts and perform transactions online from anywhere and at any time. If you're a DBS Bank customer and are looking to learn how to log in to your internet banking account, this blog post will guide you through the process. Step 1: Access the DBS Internet Banking Login Page The first step to logging in to your DBS i...

Citibank Singapore Swift Code Here is the Citibank Singapore Swift Code: CITISGSGGCB Citibank Singapore is the oldest and most reliable foreign bank that is operating in the nation since 1902. They have served millions of clients and it seems like they will keep serving to them no matter what happens. They know how to please their customers and they have adopted the American-style banking and services but they managed to harmonize it well with the needs of Asian people as well as the tourists visiting the area. They have more than 1500 touch points all a...

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...

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...

Citibank Singapore Branch Citibank Singapore is an American based banking institution which offers services to many of the Singapore citizens and tourists since the year of 1902. It is the first foreign banking institution in the country and it is still among the most reliable services. The bank offers services with 20 branches across the nation but in addition to these, they have more than 1500 touch points including the ATMs. Moreover, they had agreements with more than 10 banks in order to share their ATMs to serve their clients no matter where they are in t...

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...

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. ...

Banks play a crucial role in Singapore's economy, serving as the backbone of its financial system. The country's banking sector is highly developed, sophisticated, and diversified, with both local and international banks operating in the country. Here are some key aspects of the role of banks in Singapore's economy: Intermediation and Credit Allocation: Banks in Singapore play a critical role in intermediating between savers and borrowers, channeling savings into productive investments. They provide credit to businesses, households, and individuals, fa...

What Are Interest Rates for Home Loans? When it comes to purchasing a home, one of the most crucial factors to consider is the interest rate on your home loan. Understanding how interest rates work in the context of home loans is essential for making informed decisions about your mortgage. In this blog post, we will delve into the details of interest rates for home loans and how they can impact your finances. Types of Interest Rates for Home Loans Interest rates for home loans can vary depending on the type of loan you choose. There are generally two main types...

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...

SINGAPORE (BLOOMBERG, REUTERS) - DBS Group Holdings, Singapore and South-east Asia's largest lender, posted its first quarterly profit decline since 2017 as the coronavirus pandemic and oil price slump triggered a spike in loan-loss provisions. Net income fell 29 per cent to $1.17 billion in the three months ended March 31 from $1.65 billion a year earlier, the bank said on Thursday (April 30). That compares with the $1.19 billion average estimate of six analysts surveyed by Bloomberg. DBS last posted a quarterly profit decline in the third quarter of 2017. ...

ANZ Singapore is one of the two designed regional hubs in the Asia region. It was founded as a representative for New Zealand and Australia Banking groups. ANZ Singapore was found in 1974. Later in 1980 it was converted to an offshore bank. In 2002 it was upgraded to a wholesale bank. ANZ Singapore offers solutions to investmant banking services, private banking, retail banking, corporate banking, trade finance, financial markets, corporate banking. ANZ Singapore Working Hours ANZ Singapore working hours for cash and counter services are Monday to Friday bet...