Financial Services
Top three banks see profits sink but balance sheets remain strong
Top three banks see profits sink but balance sheets remain strong
The rise in fee income was the buffer amidst falling NIMs.
Gov’t consolidates flagship SME grants into unified EDGE program
Implementation of this unified funding framework is scheduled for H2 2026.
Fee income cushions banks amidst NIM squeeze
Singapore’s top banks saw NIMs dip 12 to 29 basis points YoY.
OCBC net profit edges down 2% to $7.42b in FY2025
Total income rose to $14.6b as non-interest income provided a buffer.
OCBC hit with SGX complaint over coal power financing in Indonesia
The complaint notes it excludes financing for new coal plants under its framework.
iFAST names Tan Tia Hong as group COO as veteran Wong retires
The leadership transition takes effect on 28 February 2026.
UOB FY2025 net profit drops 23% to $4.68b on higher provisions
Total income slipped 3% to $13.81b during the period.
DBS CEO's direct stake rises to 1.4 million shares via vesting
About 23,379 shares were vested at no cash consideration on 16 February.
Bank of Singapore names Bernard Heng head of customised solutions
He will oversee solutions for ultra-high-net-worth clients.
DBS to pay $1,000 one-time bonus to 6,800 junior staff in SG
The move covers over 23,000 employees across global operations
Card payments to grow 7.2% CAGR to $209.2b by 2029
Contactless use and merchant expansion underpin growth.
Onboarding, dispute gaps constrain Singapore’s $17b remittance growth
Lack of standardisation for refunds and disputes hampers cross-border scaling.
Visa study flags rewards, scam fears as top RTP barriers in Singapore
Wrong-account worries also rank high, Visa says.
SGX RegCo opens consultation on broader broker custody rules
The shift aligns Singapore with global omnibus custody standards.
Fingular secures $10m credit line to scale Malaysian fintech ops
The funding will also be used to strengthen operational capacity.
MoneyMax wins SGX nod for Mainboard transfer
The group obtained approval-in-principle to exit the Catalist board on 23 January.
EFGH, TS Group target 50,000 foreign workers with digital wallet platform
The white-label app will offer cross-border transfers and domestic financial services.
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