The bank has revised its full-year growth forecast from 0.9 percent, to -0.5 percent.
Exposure to retail, hospitality, tourism and, most notably, energy has led to increasing balance sheet pressures for banks in Asia.
Shares of Singapore banks offer good value now that they have fallen by 26 percent year-to-date. With better capital positions as compared to during the global financial crisis, they have the capacity to retain dividend payout.
The chief investment officer issued the apology after the viral video intending to educate others about fake news backfired and led to public outcry for irresponsible behavior.
The fair's viewing rooms went live on Wednesday evening to VIP guests, who immediately overwhelmed servers and made several big purchases.
Credit Suisse announced that profit momentum remained steady despite the challenges of a coronavirus pandemic, ahead of a presentation at the annual Morgan Stanley European Financials Conference in London.
The alts investment platform has appointed a senior executive with over two decades of industry experience .
Vanguard names a new head of Asia to succeed Axel Lomholt who was serving as interim head since December 31 last year.
Newly confirmed HSBC group chief executive Noel Quinn has barely enough time to celebrate as he grapples with how to cut 35,000 jobs in the midst of a coronavirus pandemic that has claimed nearly 9,000 lives.
The deal, for an initial term of 15 years, will allow the bank to provide Prudential's health and wealth solutions to its customer base.
A transformation of UBS under new CEO Ralph Hamers will only work with a cultural change, headhunter Reto Jauch tells finews.tv. He highlights other successful Swiss examples.
MatchMove has brought in a digital-banking partner tied to Thai food conglomerate CP Group, along with others, in hopes of disrupting the remittance business in this region. The bidding for a digital full bank license in Singapore serves as a natural extension of its...
Blackrock nets a former regional head of exchange-traded funds at Citi to head its regional iShares unit.
HSBC looks beyond the current health crisis and towards the long-term, as it expresses confidence to triple the number of Greater China billionaire clients at its private bank over the next three years.
Visa's annual survey on consumer payment attitudes found that six in 10 Singaporeans would move some services from their current traditional banks to providers with no prior banking experience.
The senior executive takes on a new role, according to an internal memo shared with finews.asia, after two decades with Citi's equities and markets unit.
The world's largest wealth manager sought to soothe investor nerves amid market turmoil sparked by the coronavirus pandemic.
Singapore banks could face further headwinds after Malaysia announced a nationwide lockdown that will last till the end of March.
The suspect in the Standard Chartered Bank robbery, which took place on 7 July 2016, arrived in Singapore from the U.K. on Tuesday to face charges of robbery and money laundering.
More state borrowers will likely tighter credit conditions due to the outbreak-linked economic impact and fiscal impact from subsequent policy responses, said ratings agency Fitch.
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