digital banking licence

Zico Holdings, Green Packet and M24 Tawreeq consortium seek Islamic digital banking license - THE EDGE SINGAPORE

Disruption and Digitalisation

Zico Holdings, Green Packet and M24 Tawreeq consortium seek Islamic digital banking license

The consortium will jointly submit an application for one of five digital banking licenses to be issued by Bank Negara Malaysia.
Expect record 4Q20 earnings by iFAST Corp on record AUA: CGS-CIMB - THE EDGE SINGAPORE

Broker's Calls

Expect record 4Q20 earnings by iFAST Corp on record AUA: CGS-CIMB

The company announced on Jan 6 that its assets under administration reached another record high level of $14.45 billion.

Broker's Calls

No near-term impact on incumbent banks following digital licence announcement: analysts

The primary target for the DBs is the underbanked in Singapore.
Sentiment on Singapore banks 'slowly improving': PhillipCapital - THE EDGE SINGAPORE

Broker's Calls

Sentiment on Singapore banks 'slowly improving': PhillipCapital

One analyst does not expect any impact on banks’ earnings until FY2022 when the digital banks start to operate.
What could a digital banking licence mean for Singtel? - THE EDGE SINGAPORE

Broker's Calls

What could a digital banking licence mean for Singtel?

What could a digital banking licence mean for Singtel?
iFast posts record net profit with 150% y-o-y growth in 3Q20 - THE EDGE SINGAPORE

Results

iFast posts record net profit with 150% y-o-y growth in 3Q20

Digital bank hopeful iFast notes that 3Q20 profit growth was substantially higher than the growth in revenue.

Disruption and Digitalisation

StanChart and NTUC Enterprise plan Singapore digital-only bank

Standard Chartered PLC is planning its second digital-only bank in Asia, teaming up with a unit of Singapore’s biggest labor union, according to people familiar with the matter.

Company in the news

Digital bank hopeful iFast posts record 2Q2020 on trading fees jump

Singapore-listed financial services firm iFast Corp has reported record quarterly earnings for 2Q2020, as it collected higher recurring fees from a bigger pool of assets under administration.

Broker's Calls

iFAST Corp posts record earnings of $4.53 mil, results 'above expectations': DBS

Local fintech company and digital bank hopeful iFAST Corp is fast becoming a “beneficiary of digitalisation”, says DBS Group Research in a July 24 report. For 2Q2020, iFAST Corporation’s earnings surged 84.7% y-o-y to a record high of $4.53 million.

Global Economy

Briefs

Quoteworthy: "I cannot allow the gains we have all made to be squandered by processes that are not followed." –— Prime Minister Jacinda Ardern of New Zealand, after a 24-day case-free streak was broken.
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