digital banks

Digital banks are coming and Singaporeans seem to be excited for it.

In a recent interview, Dennis Khoo, regional head of TMRW digital group at United Overseas Bank (UOB), compared banks — including digital banks — to a car. What you see are the steering wheel, car seats, wheels, rims. But the engine is hidden.

According to analysts polled by Bloomb­erg, DBS Group Holdings is likely to report the highest growth in prof­it after tax (NPAT) for FY2019 end­ed Dec 31, 2019, of 12.3% (see table 1). Oversea-Chinese Banking Corp is likely to report a 6.1% rise in NP

(Jan 12): The first of Hong Kong’s new generation of digital banks has announced its arrival with a 6% introductory rate for deposits.

On Jan 7, the Monetary Authority of Singapore (MAS) announced that it had received seven applications for the two digital full bank (DFB) licences on offer, and 14 applications for the three digital wholesale bank (DWB) licences.

local banks in favour from dividend lift