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MAS imposes additional capital requirement of $330 mil on OCBC, dividend will not be affected

The Edge Singapore
The Edge Singapore5/26/2022 06:08 PM GMT+08  • 3 min read
MAS imposes additional capital requirement of $330 mil on OCBC, dividend will not be affected
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The Monetary Authority of Singapore has imposed an additional capital requirement of $330 million, on OCBC Bank over deficiencies in the bank’s response to a wave of spoofed SMS phishing scams last December.

The amount is based on a multiplier of 1.3 times of the bank’s risk-weighted assets for operational risk as at March 31.

This amount is a 0.21 percentage point impact on OCBC Bank’s Group capital ratios. There will not be any impact on its dividend policy.

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