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DESPITE strong returns among life insurers' participating funds in 2019, three insurers have opted to cut bonuses or dividends for some policyholders.

CITI on Friday announced the appointment of banking veteran Lee Lung Nien as the South Asia chairman of its private banking arm.

INTERNATIONAL trust Asiaciti Trust, which was penalised by the authorities over poor anti-money laundering controls, said the failures identified have been fully addressed. Since 2018, the new management team at its Singapore office has also enhanced internal compliance and governance systems to fully meet the requirements, the...

INTERNATIONAL trust Asiaciti Trust, which was penalised by the authorities over poor anti-money laundering controls, said the failures identified have been fully addressed.

MAINBOARD-LISTED United Overseas Insurance (UOI), the general insurance arm of United Overseas Bank, saw its net profit shrink by 42 per cent to S$4.9 million for the second quarter ended June 30, 2020, from S$8.4 million for the corresponding period last year.

WITH authorities sending a fresh signal that relief in the form of debt moratoria will have to start being unwound, analysts say it would be a stab in the dark to assess the full impact of such unprecedented Covid-19 relief on Singapore banks' earnings.

DIGITAL bank hopeful iFast Corp on Thursday reported a net profit of S$4.5 million for the second quarter ended June 30, 2020, a surge of 84.7 per cent from S$2.5 million a year ago.

DATA centre provider ST Telemedia Global Data Centres (STT GDC) will issue at par S$400 million worth of senior unsecured bonds that will carry a 3.13 per cent coupon and mature on July 28, 2028.

DIVIDEND cuts by Singapore banks may happen "as early as" the upcoming payout to be announced in the second quarter, with the regulator reviewing banks’ capital plans amid prolonged economic uncertainty, said DBS Group Research in a report this week. 

THE Monetary Authority of Singapore (MAS) has slapped a S$1.1 million penalty on international trust Asiaciti Trust for inadequate safeguards against money laundering and terrorism financing – including its failure to monitor unusually large transactions by “politically exposed” customers.