Singapore
LATEST ARTICLES
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UOB’s acquisition of Citi’s consumer assets in four southeast Asia markets strengthens its status in one of the world’s fastest growing regions. The Singapore lender’s CEO Wee Ee Cheong talks to Euromoney about why this matters and what comes next.
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The Singapore lender is looking to India in search of new business and growth opportunities, its chief executive Piyush Gupta tells Euromoney. Long term, it aims to emulate onshore the country’s best private-sector lenders, HDFC and Kotak Mahindra.
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AsiamoneyIt has become fashionable to describe private credit as an opaque and fast inflating bubble that could bring crisis to the global financial system. But in Asia even banks and regulators hope it will grow to bridge the yawning financing gap.
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The 34th annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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The commodities firm still needs large banking groups and a range of options when it comes to supporting its operations.
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While the air at the Singapore Fintech Festival was full of grand ideas about GenAI, real innovation was taking place in the weeds of fintech development.
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Singapore’s DBS Bank has spent the past decade transforming itself into one of the world’s best digital banks. But a series of lengthy service outages over the past year has wrongfooted senior management, who have been left to issue apologies and pledge to do better.
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Singapore’s big-three lenders – UOB, DBS and OCBC – have won Euromoney awards for best SME bank in Asia each year since 2016, two of them taking the global award as well. Why?
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Singapore’s new digital bank Trust has put rivals on notice and pushed some to focus more intensely on innovation. But its long-term success will depend on many things – not least CEO Dwaipayan Sadhu’s ability to retain clients.
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The 33rd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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What do you get when you combine solid financials, a comprehensive franchise, digital banking prowess, a big ESG impetus and even bigger ambitions for growth? Answer: UOB, Asiamoney’s pick for best domestic bank in Singapore for 2022.
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HSBC’s Singapore franchise has really come into its own in the past few years, signalling to rivals that it’s no longer a Greater China one-trick pony, but a bank with a broad geographical footprint, including a booming Singapore and southeast Asia business.
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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HSBC’s Singapore franchise has really come into its own in the past few years, signalling to rivals that it’s no longer a Greater China one-trick pony, but a bank with a broad geographical footprint, including a booming Singapore and southeast Asia business.
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With a 120-year history in Singapore, Citi can almost be considered a local bank. The US major operates in the southeast Asian city through three entities: Citibank Singapore, Citibank Singapore branch and Citicorp Investment Bank (Singapore).
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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DBS takes home three Singapore awards from Asiamoney this year: best investment bank, best for digital solutions and best for CSR.
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With a 120-year history in Singapore, Citi can almost be considered a local bank. The US major operates in the southeast Asian city through three entities: Citibank Singapore, Citibank Singapore branch and Citicorp Investment Bank (Singapore).
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OCBC wins the Asiamoney award for best bank for SMEs in Singapore yet again, reflecting its continuous and growing relevance in this segment, its ability to think outside the box in bringing appealing products and services to its clients, and for its unwavering commitment to its customers – no easy feat in a Covid-hit environment.
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The 32nd annual Asiamoney Brokers Poll is a Vox Populi poll that identifies the leading brokerages for equities research, sales and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia.
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For a case study of a bank in Singapore that is able to adapt rapidly to changing customer behaviour, one only need look at OCBC Bank, which once again wins Asiamoney’s award for best bank for SMEs.
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Singapore’s DBS Bank had to navigate two severe headwinds in the past 18 months: the myriad disruptions caused by the Covid-19 pandemic and the difficulty of operating in a near-zero interest rate environment.
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UOB may appear a bit of a laggard in the corporate social responsibility space when compared to bigger – and more vocal – peers like DBS Bank. However, it has come into its own regarding sustainability and CSR recently; in April 2021, it appointed its first chief sustainability officer, Eric Lim, to sharpen the focus on achieving its sustainability objectives.
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A bank can always plan for the worst. But it demonstrates its skills and understanding of the market and clients from the way it responds and keeps its business humming when the worst actually happens. In Singapore, Citi did a stellar job in navigating the havoc caused by the pandemic in the past 18 months, making it Asiamoney’s pick for best international bank in the city-state.
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Singapore’s DBS Bank had to navigate two severe headwinds in the past 18 months: the myriad disruptions caused by the Covid-19 pandemic and the difficulty of operating in a near-zero interest rate environment.
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Singapore’s DBS Bank had to navigate two severe headwinds in the past 18 months: the myriad disruptions caused by the Covid-19 pandemic and the difficulty of operating in a near-zero interest rate environment.
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The lines between business and politics are often blurred in southeast Asia. Just ask the prominent founders of Ikhlas Capital, a private equity firm boasting a network of contacts with the promise of huge opportunities – and occasional trouble.
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The 31st annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, hedge fund & private equity firms, insurance companies and wealth management houses in Asia, Europe and North America.
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Banks in Singapore have produced just a handful of women trailblazers in technology and artificial intelligence; can government incentives change the gender balance?
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Tan Su Shan has worked in some of the biggest banks in the world’s busiest financial centres. Her varied experience has proved crucial in making her voice heard in a male-dominated industry.
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It is 10 years since OCBC bought ING’s Asia private bank and relaunched it as Bank of Singapore. Since then, it has built critical mass, expanded internationally and produced strong results despite lagging on tech. Where does it go next?
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Singapore has whittled the bidders for its five digital banking licences down from 21 to 14; several are well-funded partnerships with Chinese backers and a track record in disruption. But has Covid-19 moved the Monetary Authority of Singapore’s goalposts?
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Singapore’s banks have all made admirable attempts to support their clients this year as the city state has battled the Covid-19 outbreak. But DBS deserves special credit for its wider commitment to corporate social responsibility under the leadership of Piyush Gupta.
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Small and medium-sized enterprises are the lifeblood of economies. Even in a city-state like Singapore, which is packed with international names, SMEs make up 99% of the city’s enterprises, with 81% locally owned. As banking clients, SMEs need special attention and expertise. OCBC offers just that.
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DBS is an incredibly difficult bank to beat in Singapore’s digital space because it benefits from years of investment and a widespread commitment to bringing technology into every part of its business. The coronavirus has made digital more crucial than ever – and DBS bankers were readier than others.
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Citi, under Asean head and Singapore country officer Amol Gupte, has proved a leader in every part of the market.
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DBS consistently tops the league tables, proving itself over and over to be the leader in Singapore’s corporate and investment banking world.
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UOB, led by deputy chairman and chief executive Wee Ee Cheong, recorded some impressive numbers to win this award for the second year in a row. They included a record net income of S$4.3 billion ($3.15 billion) in 2019, an increase of 8% over the previous year, and a strong performance which helped soften the blow of the coronavirus.
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The first catastrophe bond to be sponsored by an Asian government has been issued by the World Bank, giving protection against damage by earthquakes and cyclones.
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Asian Infrastructure Investment Bank and Clifford Capital have launched a new financing platform to remove some of the pressure on banks. It will also position Singapore as a leader in the sector.
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The 30th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world.
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BNP Paribas’ Asia wealth management division was once a digital laggard, but thanks to its ‘design factory’ in Singapore, led by Vivien Jong, it is now a global leader, inventing ways to make the bank work better and more profitably.
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Its exchange was once buzzing with new listings – these days, the only IPOs that keep equity capital market bankers busy come from Reits. What can the city-state do to convince its best young firms to choose home over Hong Kong or New York?
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Of all the financial institutions to watch in Asia, when it comes to digital banking, DBS is the one to focus on, having set the template for banks across the world to follow.
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Founded before the state of Singapore itself, UOB is looking to the future and enthusiastically embracing technology ‒ all eyes are on its shift to digital and how this will shape the financial system in the region.
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Corporate and social responsibility is not simply about supporting the issuance of green bonds or loans. It goes far beyond that – something that DBS has understood and has worked towards.
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OCBC’s mission appears to be to make lives easier for the owners of small and medium-sized enterprises. That was more than evident in some of its key rollouts during Asiamoney’s awards period.
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The best digital bank award is always hotly contested, especially in Singapore where banks are striving to be the digital champions in the face of competition from fintech firms.
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Credit Suisse has always had a strong private banking business, not just in Singapore but across the world. This year was no different, making the Swiss firm our pick for the best private bank in Singapore.
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For the third year running, Citi’s unparalleled breadth and depth in Singapore makes it Asiamoney’s best international bank for 2019.
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DBS, led by chief executive Piyush Gupta, stands out in Singapore’s corporate and investment banking market, making it the natural winner of this award this year.
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UOB is in the middle of a radical transformation. It is shedding its image as a cautious, conservative bank and adopting an ambitious digital strategy so that it can change with the times. And it is doing so while its financials are strong.
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Expanded rankings and additional categories, including other comparative and bespoke data, are available for purchase. Please contact Mee Ling Lee at meeling.lee@euromoneyasia.com for our data packages.
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The 29th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Voters represented fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world. A total of 6,540 valid individual responses from 3,100 different institutions, including 411 hedge funds, were received.
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Singapore has become a hothouse for the fintech and banking debate, but can its banks meet the challenge?
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DBS doesn’t just talk the talk when it comes to corporate social responsibility. Singapore’s largest bank also walks the walk. And since establishing a sustainability council and appointing a chief sustainability officer in 2017, that has become all the more evident.
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OCBC Bank is a repeat winner of this Asiamoney award. But it is a repeat winner for many reasons, not least of which is its continual efforts to improve its offerings to its small and medium-sized clients – efforts that have paid off many times over.
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DBS’s digital prowess has been remarkable since it decided to focus on reinventing itself over the last three years. But the rewards it has reaped from that journey only became clear in November 2017, when DBS decided to quantify the financial benefits of digitalization.
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Credit Suisse’s private banking operation is flourishing in the city-state. In 2016, Credit Suisse’s Singapore private banking front team grew 60%, with five new teams set up to boost coverage of the growing ultra-high net-worth clientele.
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Singaporeans see Citi, led by country chief executive Han Kwee Juan, as a local bank just as much as an international one, and the numbers tell you why.
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Credit Suisse’s leadership of Singapore’s corporate and investment banking market makes it the clear winner of Asiamoney’s best corporate and investment bank award.
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It’s hard to compete against DBS, led by Piyush Gupta; the bank reported record earnings last year, with total income rising 4% to S$11.92 billion ($8.7 billion) while net profit, also up 4%, came in at S$4.39 billion. Of the income, Singapore accounted for S$7.79 billion, up 3.4%.
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A novel green loan for Singapore-listed Wilmar has highlighted the dearth of such ESG-based borrowings in Asia, but now that the agribusiness company has provided a template, the onus is on banks and borrowers to push for change in the region.
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The 28th annual Asiamoney Brokers Poll invited chief investment officers, fund managers and investment analysts to take part. Nearly 6,700 valid responses were received from voters representing fund management houses, insurance companies, pension funds, sovereign wealth funds, hedge funds and wealth managers from around the world.
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Timberland investor New Forests is encouraging Singapore to become Asia’s hub for impact investing, while solving the region’s annual pollution problem.
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DBS has become a private banking power in southeast Asia, after an acquisition spree. Through 2016-17, it has integrated the regional private banking business it bought from Société Générale in 2014, and is doing the same with the ANZ wealth management businesses it purchased in 2016.
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Digitise or perish, says DBS Bank, and Singapore’s largest bank has backed up its rhetoric by aiming to become an Asian fintech hothouse. It has renovated a 16,000 sq ft space on the island and called it DBS Asia X, filling it with funky ‘project pods’ and spaces to attract, as it describes, ‘the best and brightest FinTech startups’.
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Citi nobly says that “citizenship is core” to its mission in Singapore. To that end, its has been a strong advocate of financial literacy and youth development programmes since 2002.
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True to its roots in seeding small businesses for Singapore’s diaspora communities, OCBC continues to go after emerging businesses on the island. Its Business Growth Account and Business Entrepreneur Account are its flagship products for start-ups and growing SMEs.
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Citi’s Singapore group of offshoots reported combined profits of more than $S800 million ($594 million) for the calendar year 2016. In investment banking, Citi Singapore got 14 deals away in the year to March 31, six in M&A deals worth $8 billion, five big equity deals to raise $2.3 billion and three debt-raisings totalling $2 billion.
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With a team of 60 bankers in Singapore covering equity and debt capital markets, along with mergers and acquisitions, Credit Suisse has again topped the tables for dealflow in the city-state.
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After seven years as DBS boss, Piyush Gupta could be excused for scratching his head in frustration. In August, he brought home another record net profit for DBS of S$2.35 billion ($1.75 billion) for the first half of 2017.
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Stressed situation in oil and gas exposures weigh on annual results, but CEOs hope to see a wealth management upside.