SHARES of DBS rose to a 52-week high on Friday after it posted a 72 per cent year-on-year rise in net profit to S$2.01 billion for the quarter ended March 31.
THE Monetary Authority of Singapore (MAS) will commit S$42 million for a new regulatory technology (RegTech) grant scheme, while enhancing the Digital Acceleration Grant (DAG) scheme, it said on Friday.
SINGAPORE'S bank lending continued its growth streak in March, rising 0.7 per cent on higher housing loans, data from the Monetary Authority of Singapore (MAS) showed on Friday.
DBS on Friday morning posted a 72 per cent year-on-year rise in quarterly net profit to S$2.01 billion, up from S$1.16 billion in the year-ago period and beating Refinitiv’s estimate of S$1.43 billion.
DBS expects to cut its overall physical footprint by about 20 per cent as the bank moves towards a hybrid work model, with the bank's chief executive Piyush Gupta on Friday confirming that it has given up space in financial centres Singapore and Hong Kong.
DBS on Friday showed the blistering pace at which Singapore banks have recovered from the pains felt during the global Covid-19 outbreak last year, as Singapore's largest bank cracked the S$2-billion mark in quarterly net profit.
SINGAPORE is taking big steps to modernise the cross-border payments scene through a string of recent partnerships, in a bid to ease longstanding payment pains.
OCBC will review its office-space requirements and may cut down on its number of branches, said its chairman Ooi Sang Kuang on Thursday, during the bank's annual shareholder meeting.
