IN THE first case before the Singapore courts associated with scandal-hit German payments company Wirecard, Singaporean R Shanmugaratnam has been slapped with four charges of falsifying letters that stated bogus balances held by his company’s accounts.
OCBC on Friday posted a larger-than-expected 40 per cent fall in Q2 net profit on surging provisions, as the bank joined its peers in bumping up provisions to buffer against bad loans to emerge amidst the pandemic-fuelled crisis.
OCBC's Q2 net profit fell by a larger-than-expected 40 per cent after it took S$350 million in provisions to write down the carrying value of the existing offshore support vessels (OSVs) that back corresponding impaired loans - a move that has crunched down its exposure to the...
DBS chief Piyush Gupta expects top line and net interest margin (NIM) - a key indicator of profitability for banks - to deteriorate over the rest of the year as it battles interest rate headwinds that threaten to drag down income.
UNITED Overseas Bank (UOB) has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures as the year end approaches.
SHARES of local banking trio rose on Thursday, as investors found some cheer from conservative provisions set aside by DBS and UOB and an unchanged outlook guidance in their latest quarterly results released before market open.
CLOSING doors to focus on national priorities during a pandemic is a false answer, a Singapore-based think tank suggested on Thursday, and what Asean needs is instead greater transparency and integration for a strong recovery.
SHARES of local banking trio rose on Thursday, as investors found some cheer from conservative provisions set aside by DBS and UOB, and an unchanged outlook guidance in their latest quarterly results released before market open.
UOB has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures towards the end of the year.
