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With physical gatherings limited, red packet gifting via digital channels on the first two days of the Lunar New Year grew considerably from the year before. Efforts to digitalize the longstanding custom of giving hong bao (red packets) during the Lunar New…
DBS posted lower profits in the fourth quarter of 2020 due to higher allowances set aside for potential bad loans. Net profit fell 33 percent year-on-year to S$1.01 billion due to a lower net interest margin and high total allowances set aside, according to a…
The bank has launched an in-house digital training institute to equip its 5,000-strong technology workforce with cutting-edge skills for the future. The Future Tech Academy covers three technology disciplines: Site Reliability Engineering, Data Processing and…
The bank disbursed S$7 million ($5.23 million) in loans to social enterprises so far this year, up fourfold from 2019. Much of this support has gone towards creating and preserving livelihoods, with many of the SEs using the funds to create and retain jobs…
The bank, which has a workforce of 29,000, said these measures are the result of insights gathered from research, deep-dive experiments and employee surveys conducted by a task force on the future of work, which it convened six months ago. DBS is transforming…
The Chennai-based bank, which has a 94-year history in India, with established retail and SME customer base, and a strong presence in South India, has undergone a steady decline with the bank incurring continuous losses over the last three years, eroding its…
The bank will issue an interim one-tier tax-exempt dividend of 18 cents per share, for which the scrip dividend scheme will be applicable, for the third quarter of 2020 DBS Group reported net profit of S$1.30 billion ($960 million) for third-quarter of 2020,…
DBS’ plans for a digital exchange are still work in process, and have not received regulatory approvals. Until such time as approvals are in place, no further announcements will be made. DBS is planning to launch a crypto exchange that will allow four digital…
Under the memorandum of understanding (MOU), the two sides will collaborate on a range of initiatives that harness digital technologies to better serve customers and suppliers. DBS Bank and Keppel Technology & Innovation have agreed to work together on…
DBS’s private banking arm saw net new money inflows surge in the first half of 2020 driven by a diversified range of client segments. Net new money inflows surged by 170 percent in the first half for DBS Private Bank which saw assets under management (AUM)…
The firm joins a string of international banks that have registered with Chinese authorities to set up onshore brokerages after the financial market supervisor loosened the rules on foreign access to financial markets. DBS Bank has received approval to…
This is the industry’s first SORA loan coupled with an interest rate swap, which provides certainty of interest rates. DBS has issued a $200 million ($146.4 million) loan to agribusiness group Wilmar International – the agribusiness industry’s first corporate…
The bank is the sole financier for one of the world’s largest inland floating solar photovoltaic systems to date. DBS Bank has provided a $40 million loan facility to Sembcorp Industries to build a 60 megawatt-peak (MWp) floating solar photovoltaic (PV)…
The bank hopes to equip its employees with skills in these areas, under a partnership with cloud services provider Amazon Web Services (AWS). DBS Bank will accelerate the use of artificial intelligence (AI) and machine learning (ML) across its business by…
The solution aims to improve productivity and remove inefficiencies in the sector’s procurement and payment processes.DBS Bank has partnered with Singapore fintech Doxa to pioneer a procure-to-pay solution for Singapore’s construction sector, according to an…
DBS Private Bank has appointed a successor to Piere DeGagne, the former head of fund selection and advisory who is leaving the bank. John Ng was appointed as DBS Private bank’s new head of fund selection and advisory last month to replace DeGagne, who is…
