Singapore
Will cash survive beyond the 21st century?
Will cash survive beyond the 21st century?
Whenever I read about the apparently imminent arrival of the cashless society, I smile quietly to myself, knowing that the global facts tell a completely different story, one which should see cash surviving beyond the 21st century. Take the latest press release from London-based Retail Banking Research, for example: “The total number of ATM cash withdrawals worldwide is expected to increase at an average of 8% per year between 2010 and 2016, compared to an average of 6% per year in the number of [ATM] installations.”[1]
Hiring hotspots in Asia
While there is a sense of uncertainty for some banks, others have made no changes to their hiring plans and good talent remains in high demand. Christine Wright, Managing Director of Hays in Japan, discusses trends and current opportunities across Asia from the latest Hays Quarterly Report. Despite the global economic caution which has seen some banks, particularly European banks, introduce more stringent headcount approvals and recruit only for essential hires, other banks, often Australian and Asian banks, are still hiring in many areas and we expect this to be the pattern for the remainder of the year.
OCBC’s 3Q11 profit disappoints at S$513m
The bank’s non-interest income also declined 26% due to net trading loss.
UOB’s profit slumps 18% to S$522m in Q3 2011
You can well blame it on poor trading and investment income.
Hong Leong Finance opens branch in South Bridge road
The new Hong Lim branch has wheelchair-friendly features such as ramp accessibility and lower service counters.
DBS’ profit up 6% to an amazing SGD 762m
Liquidity remains healthy and with steady deposit inflows, loan-deposit ratio is at 84%.
RHB Bank beefs up Singapore operations with SG$350M capital fund
RHB Bank added SGD350 million to its capital fund for its Singapore operations, which contributes more than 90 per cent to its international profits and is its largest contributing overseas unit.
Brisk loan growths in Singapore to ease in 2012 on fears of global uncertainties
Systemic loans in September surged 3.1% - guess which sector pulled the loans up?
MAS reprimands OCBC for its failed online and branch banking systems
OCBC’s busted as MAS found out that the bank did not implement sufficient measures to address single point of failure in its system and network infrastructure.
DBS starts offering US dollar-based high-yield time deposit account
The product, minimum value of US$20,000, offers a one-year rate of 1.88%.
OCBC and Lion Global ink deal to launch new unit trust
The trust intends to provide positive returns and has an investment time frame of five years.
CIMB-TrustCapital Singapore acquires 850 Collins Street in Melbourne
850 Collins Street is an A-grade commercial office building that is currently under construction and is scheduled for completion in October 2012.
OCBC and LionGlobal to launch new unit trust
The LionGlobal New Target Return Fund has an investment time frame of five years.
Busted! Goldman Sachs ex-director Gupta screwed for fraud
And it’s not one, not two, but five counts of securities fraud plus one count of conspiracy - now isn’t that something?
OCBC Bank offers innovative online banking experience
Upgrades in user interfaces and features offering simple and intuitive solutions pave the way to the next generation of banking experience.
8 out of 10 CMO’s to increase social media use in 3-5 years
And nearly 1,700 chief marketing offers believe that the digital media era is evolving the field.
GRGBanking to develop Myanmar’s national financing switching
GRG also signed the agreement with MIT to develop the Myanmar Payment Union.
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