DBS Group Research and CGS-CIMB Research analysts have maintained their “buy” and “add” calls for Singapore Telecommunications after the telco, together with Grab, secured a digital full bank (DFB) licence from the Monetary Authority of Singapore (MAS) on Dec 4.

Operations are expected to commence by early 2022.

DBS analyst Sachin Mittal sees the licence as the “start of something exciting” in the long-term for the Grab and Singtel-led consortium.

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