SINGAPORE sits as an important node in booking offshore wealth flows from the region. Given this, Citi's latest move to double down on hubs like Singapore will have it join peers tapping the Republic as a big regional magnet for offshore wealth.
THE three incumbent banks in Singapore - DBS, OCBC and UOB - could face modest competition from digital banks in the near term, but they are equipped to handle that smoothly, said a Fitch Ratings report on Wednesday.
SHARES of DBS reached an intraday low of S$28.27, a 2.6 per cent or S$0.75 drop from its previous close. This puts the lender in a one-week low after it proposed to acquire a 13 per cent stake in Shenzhen Rural Commercial Bank (SZRCB) on Tuesday.
FUNDS managed by Blackstone Real Estate have agreed to acquire The Sandcrawler, an iconic Grade A commercial building in Singapore, for S$176 million from Lucas Real Estate.
SINGAPORE Reinsurance on Tuesday said offeror Fairfax Asia does not intend to increase its 35.35 Singapore cents offer price "under any circumstances whatsoever".
ALL eyes are now on whether Singapore banks will snap up Citi's assets in markets that the local trio already play in, as the Wall Street giant sheds several of its consumer banking businesses across Asia.
SOUTH-EAST Asia's largest lender DBS will acquire a 13 per cent stake in Shenzhen Rural Commercial Bank (SZRCB) for RMB5.29 billion (S$1.08 billion), in a move that will make it the largest shareholder of the Chinese bank.
SOUTH-EAST Asia's largest lender DBS will acquire a 13 per cent stake in Shenzhen Rural Commercial Bank (SZRCB) for RMB5,286 million (S$1,079 million), in a move that will make it the largest shareholder of the Chinese bank.
EYES are now on whether Singapore banks will snap up Citi's assets in markets that the local trio already play in, as the Wall Street giant sheds several of its consumer banking businesses across Asia.
