DBS (Development Bank of Singapore)

[chialc88]

Starcraft,
Do you have ibanking?
If yes, try it.
I am able to create the FD account and get instance approval online.

Love Compassion


A Life not Reflected is a Life not Worth Living.

[starcraft_76]

Starcraft,
Do you have ibanking?
If yes, try it.
I am able to create the FD account and get instance approval online.

Love Compassion


A Life not Reflected is a Life not Worth Living.

Well, I created the account yesterday and it didn't created immediately. However, I noticed that the account was created this morning.

It could be due to yesterday being a public holiday.. I supposed.

[starcraft_76]

Max 10k per customer only.害我白开心一下。

Is it per customer or per account? If say we have both PosBank and DBS account, can place 2 FD and get the promotion rate?

[chialc]

Is it per customer or per account?

per customer aka ICNo across both POSB and DBS.

eg. if you have a joint account, then $20k

Beware: extra $$ placement will be treated at normal FD rate.

Love Compassion

[etan]

Yes, U can create the fd a/c, once it's done, proceed to transfer the $10k to this fd a/c, all can be done at the same time.
Today is last day!
DBS have no heart to look after their loyal customers, their rates have been the lowest for quite some years compared to uob, ocbc.
Promotion is good for only 2 days, and amount is capped at so low!!! Interest earned: $69 vs $7.50 is still something!
Other banks normally offer fd promotion for several months, rate and principal is also much higher!

Starcraft,
Do you have ibanking?
If yes, try it.
I am able to create the FD account and get instance approval online.

Love Compassion


A Life not Reflected is a Life not Worth Living.

[greengiraffe]

China playing key role in S'pore banks' profit growth
Published on May 3, 2014 1:25 AM



By Goh Eng Yeow Senior Correspondent

AN INTERESTING takeaway from the first-quarter results released by Singapore's three local lenders is the role China now plays in determining the growth in their bottom-line earnings.

DBS Group Holdings reported a 9 per cent jump in firstquarter profit to $1.03 billion. Including one-off items, that gain would have risen to $1.23 billion. Over the same period, OCBC's net profit jumped 29 per cent to $899 million, while United Overseas Bank's (UOB) net profit climbed 9.2 per cent to $788 million.

Going beyond the headline numbers, what enabled both DBS and OCBC to beat market expectations of their earnings was the boost they received from their China-related activities. UOB's in-line results were a reflection of its smaller China exposure.

As CIMB Research's Mr Kenneth Ng and Ms Jessalynn Chen noted in their analysis of the three banks' results: "While its peers saw treasury, trade and loan fees bloom on the back of China-related activity, UOB's coyness with China trade loans left it shy of a non-net interest income driver in the first quarter when Asean customer flows slow."

In the case of DBS, they noted that one factor driving its first-quarter growth was customer hedging on yuan trades. However, they believe that the weakening of the yuan in the current quarter might lead to a slowdown in some of these hedging activities.

Similarly, for OCBC, the analysts noted that while part of the bank's improved spread on its net interest margins had come from corporate and consumer loans, it also received a boost from higher yields on the excess yuan placed in the market.

They said: "Management clarified that OCBC's exposure to China trade was mainly through the importers of basic raw materials and commodities. The Greater China non-trade loans go towards funding the large Chinese corporates' business expansion into Asean, and not to China infrastructure or property."

Yet, strangely enough, during much of the quarter under review, UOB's stock price outperformed that of DBS, presumably because of its lower China exposure and the vast Asean business franchise which it has developed.

But the CIMB analysts said: "After the year-to-date outperformance, we reckon that UOB will now lag."

They have also turned positive on OCBC, which is acquiring Hong Kong's Wing Hang Bank to expand its outreach in China, because of the lender's rising loan spread and sustainable loan growth.

But traders are mindful that getting hitched to China's growth bandwagon can be a double-edged sword, since sentiment can suddenly turn sour if there is a sudden negative flow of news out of the mainland.

It was only recently that concerns were raised over a possible bad debt crisis in the Chinese banking system, following the default on a bond payment by a mainland state-owned company.

That, in turn, cast a pall over China lenders listed in Hong Kong and foreign lenders with big China exposure such as HSBC Holdings and Standard Chartered Bank.

In his report, Citi Research analyst Robert Kong said that DBS had confirmed it had analysed its China exposures and "remains wholly comfortable with the quality of the book".

"Our sense is that DBS is enjoying the strongest and the broadest-based business momentum, while UOB is facing more near-term challenges."

Barclays Capital Equity Research's Ms Sharnie Wong noted that UOB reported flat margins as its China growth strategy is more conservative and it is less exposed to China-related trade loans.

Whether that turns out to be a boon or bane as the three lenders pursue their different China strategies, the next few quarters will bear watching.

engyeow@sph.com.sg

[greengiraffe]

http://www.businesstimes.com.sg/premium/...e-20140716

PUBLISHED JULY 16, 2014
Regulations clouding banks' regional drive
But DBS chairman Peter Seah says S'pore banks have to expand overseas
BYJAMIE LEE
leejamie@sph.com.sg @JamieLeeBT

Mr Seah: DBS has set its sights on being a leading bank in Asia, and this includes eventually being in Malaysia - a market where, unlike its two competitors, it is not in. - PHOTO: ARTHUR LEE
[SINGAPORE] Regional expansion is becoming increasingly expensive with regulations - a route that lenders here nonetheless must take, given the size of the domestic market, said DBS chairman Peter Seah.
"Because of our size, all three of us have to operate outside of Singapore," said Mr Seah, referring to the three banks here. "For our Singapore operations alone, we are severely over-capitalised."
Singapore banks are among the world's most well-capitalised banks. Their core capital ratio, which is measured against risk-weighted assets, is at two percentage points above that of standards prescribed under Basel III.
DBS has set its sights on being a leading bank in Asia, and Mr Seah said this includes eventually being in Malaysia - a market where, unlike its two competitors, it is not in. "We would like to be there," he said.
But national regulators have become more inward-looking, and want banks to park additional capital within their domestic jurisdictions, Mr Seah noted. "Conceptually, that does not take into account the overall strength of the organisation," he said.
At a time of higher capital requirements, then, the expectation is for banks to price their loans and products at a higher rate than before, noted Mr Seah.
"If the world requires a stricter capital regime, and if it's consistent ... the issue would be whether banks have sufficiently attractive returns to attract shareholders," he said.
"If you need more capital to make the same dollar, then if you want to keep your return on equity at the same level, you need to price up."
But Mr Seah also highlighted worries over regulatory arbitrage, which would create an unfair advantage for banks operating under a looser regulatory framework.
"We have to be concerned about whether the capital and liquidity requirements are going to be consistently applied worldwide by all regulators and regimes. Because if it is not, then you will have regulatory arbitrage, meaning for the same dollar of capital, I can do less," said Mr Seah.
"But somebody with more lenient capital requirements can price down."
In a wide-ranging interview, Mr Seah also noted the board is keenly watching risks that include those out of Greater China, but endorses the strategy as a long-term one.
"You either believe that China is going to be your long-term market for growth, or you don't."
When the offshore renminbi market opened in Hong Kong some 10 years ago, DBS was the largest player in the market, Mr Seah said. "And to be honest, we made a lot of money from the offshore renminbi (trade)."
Profits from Greater China currently make up a third of DBS's earnings.
"When we feel that there are potential credit issues, we slow down our growth," said Mr Seah, adding that the board structure of DBS allows the bank to take a close look at risks in China. Mr Seah chairs DBS's Hong Kong unit, and CEO Piyush Gupta takes the post of deputy chairman.
DBS bagged the gold award for Best Managed Board for large-cap companies at the Singapore Corporate Awards yesterday.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...t-20140802

PUBLISHED AUGUST 02, 2014
Housing loans not affected by softer property market
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT

DBS Group Holdings does not expect to see bad loans in its housing loan book click higher on the back of a moderation in property prices or a potential slump in the sector here given that the bulk or some 85 per cent of its loans are for owner-occupied homes.
"It's around 85 per cent or even higher and that could be principally why our portfolio quality is better," said DBS chief executive Piyush Gupta.
Mr Gupta was asked to comment on why the bank's loan book is not displaying pressure from a softening property market when United Overseas Bank (UOB) revealed just a day earlier that its non-performing loan had climbed 7.3 per cent in the second quarter from a year ago to S$2.3 billion as payments by some high-end property buyers deteriorated.
Even so, both banks' NPL ratios remained healthy with UOB's unchanged at 1.2 per cent for the quarter while DBS' bad loan ratio improved to 0.9 per cent over the period from 1.2 per cent a year back.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...l-20140910

PUBLISHED SEPTEMBER 10, 2014
Riady: Jakarta bungled in stalling DBS deal

But he says country should be judged by reforms over the past decades
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT

Mr Riady: Easy for business people to criticise governments
[SINGAPORE] The chief executive of one of Indonesia's biggest conglomerates, Lippo Group's James Riady admitted that the Indonesian government made a "big mistake" when it stonewalled Singapore bank DBS Group Holdings' S$7.3 billion takeover of Bank Danamon last year.
"Do I agree with what happened? I absolutely do not. I think it sends a wrong message. Once in a while, governments make mistakes and I think this was one big mistake they made," said Mr Riady at a panel discussion at the Asean Business Council (ABC) forum on Tuesday themed "Leadership and transformation in Asean".
Mr Riady was responding to a question on whether protectionistic policies in some Asean member countries, such as the Indonesian government's move to tweak foreign ownership limits in local banks which led DBS to pull the plug on the deal last year, were standing in the way of Asean aspirations to build a single, unified market.
He, however, added that to gain a proper perspective on Indonesia's policy in the banking sector, it should not be viewed through the narrow lens of just a single point of time but over the past decades.

[greengiraffe]

http://www.businesstimes.com.sg/premium/...s-20140923

PUBLISHED SEPTEMBER 23, 2014
Can-do spirit helps non-grad mark 35 years in DBS
Amy Low kept up with changes, held her own among graduates

BYSIOW LI SEN
lisen@sph.com.sg @SiowLiSenBT

'Blimey O'Reilly': Ms Low earned this moniker, after an Irish expression of disbelief, by her being able to help her colleagues out of fixes
[SINGAPORE] If bank employees are stereotyped as graduates with a penchant for job hopping, then Amy Low, 57, is an aberration on both counts.
The non-graduate has just marked 35 years with DBS Bank, during which time the A-level holder rose from being a clerical assistant in the trade finance department in 1979 to her current job - as vice-president (VP) of trade services, technology & operations, leading a team of 49 people.
Among the 10 per cent of DBS' VP population in Singapore who are not degree holders, she is a long way from her first rank-and-file job with the bank.
The Singapore banking industry, like others here, is grappling with a tight labour market, an ageing workforce and increasing use of technology. Not only do industries here need to ensure that their workers can keep up with the changes, they need to provide them the opportunities to do so.