UOB Bank

NETS launches same-day settlement for hawkers

SINGAPORE (Jan 17): Hawkers are now able receive their sales proceeds from NETS transactions in their bank account on the same business day.

NETS, in collaboration with its merchant banks DBS, UOB and OCBC, today launched its same-day settlement for hawkers everyday – the fastest in the industry, giving them faster access to their funds and improving cash flow.

There will be no need for special arrangement to enjoy this benefit.

Ngee Ann Polytechnic partners London's CFTE to launch AI in Finance course

SINGAPORE (Apr 24): Singapore’s Ngee Ann Polytechnic (NP) is partnering London-based Centre for Finance, Technology and Entrepreneurship (CFTE) to launch a new AI in Finance (AIF) course.

The AIF course will be a fully online that comprises 18 modules, for financial institutions seeking to update their staff on artificial intelligence (AI) developments in their industry.

Singapore banks ranked top 5 world’s safest by Global Finance

SINGAPORE (Sept 14): Singapore’s three biggest banks made it to the top 5 of the World’s 50 Safest Commercial Banks again, each moving one position higher from the previous year.

DBS Bank came in at No. 2, OCBC Bank at No. 4 and UOB at No. 5.

The annual survey was carried out by Global Finance magazine and published in the November issue.

DZ Bank from Germany took this year’s No. 1 spot, moving one position up from last year. Svenska Handelsbanken of Sweden took the No. 3 spot.

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.

Meet the potential winners amid Fed rate hikes

SINGAPORE (March 17): Rising interest rates on the back of US Fed rate hikes should favour banks, property developers, and stocks with yield backed by net cash, says DBS Group Research.

In line with expectations, the US Federal Reserve raised Fed funds rate up 25 basis points to 1%, and continued to project two more increases this year.

Banks remain ‘underweight’ on asset quality pressures but could improve in 2H17

SINGAPORE (Dec 8): Asset quality pressures remain for Singapore banks in 2017 even as share prices have climbed on the back of the higher Singapore Interbank Offered Rate (SIBOR) and Swap Offer Rate (SOR) post-Trump’s victory, says CIMB.

“We expect the banks to continue to report high loan loss provisions in their upcoming 4Q16 results, still mostly from oil & gas, as collateral values of offshore support vessels are likely to be written down at year-end,” says CIMB analyst Jessalynn Chen in a Monday report.

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