EPS growth of global markets likely to slow from 16% to 5%: Citi 2H outlook

SINGAPORE (June 25): Diversify your investments; Don’t time the markets; and look at opportunities in Emerging Markets, says Citi Private Bank in its mid-year outlook report.

Although global economic growth appears firm for the time being, the trade war between China and the United States as well as the Iran oil export sanctions have cast a pall of uncertainty over the investment horizon.

According to Citi, EPS growth of global stocks is likely to slow from 16% to 5%, while EPS growth of US stocks should slow from 23% to 4% due to its high dependence on trade. 

Singaporeans love their banks but remains wary of other asset managers, finds survey

SINGAPORE (Sept 20): While a majority of Singaporeans view the city state’s financial services sector as more trustworthy than a decade ago, many are cautious towards less familiar sub-industries and new & emerging digital financial services companies.

This is according to the inaugural 2018 Financial Services Reputation Index, launched today by MHP Communications and ORC International, which surveyed over 4,000 adults across China, Hong Kong, India and Singapore in August this year.

OCBC ranks No. 1 for retail banking customer satisfaction in Singapore

SINGAPORE (July 10): Oversea-Chinese Banking Corporation (OCBC) has topped the rankings for overall customer satisfaction with retail banking, particularly in account activities and fees, according to the inaugural JD Power Singapore Retail Banking Satisfaction released today.  

JD Power is a portfolio company of the XIO Group, an alternative investments and private equity firm headquartered in London.

OCBC was followed by Citibank and DBS in the assessment of a total of seven banks included in the study.

Citigroup expands Asia digital in bid to reach affluent clients

Citibank - by Bloomberg

(June 8): Citigroup Inc. is expanding its digital-banking channels in Asia as the bank seeks to boost its base of affluent customers in the region by at least 10% this year.

Two other ex-BSI employees slapped with seven charges each

SINGAPORE (Oct 10): Two other former BSI bankers were charged in court on Monday for their alleged role in shifting money in and out of accounts belonging to Low Taek Jho, widely acknowledged as a key figure in the on-going 1MDB probe.

Yak Yew Chee, the 57-year-old former managing director with BSI, and Yvonne Seah Yew Foong, 45, a former director in the bank, both face four charges of failure to report suspicious transactions as obliged by law, and three counts each of forgery of documents.

M1 threatened most by 4th mobile entrant; Singtel remains safest bet

SINGAPORE (Sept 5): Analysts from Maybank Kim Eng and Citi Research agree that the risk of a new market telco entrant has significantly spiked – although in Nomura’s view, it is still too early to take a specific stance on the spectrum’s results.

Citi has raised its probability of a new entrant from 25% to 85% and expects a fourth player would be able to take 7.5% of the sector’s market share by FY21.

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