One tangible benefit under an additional full bank licence is a lower minimum paid-up capital requirement of S$100 million for the unit that operates a digital-only bank, as parent banks would have already met the S$1.5 billion capital requirement.
StanChart is a well-established brand in Singapore - its"significantly rooted" label speaks precisely to that - so going full speed on digital banking may give them an advantage in scooping up further market share. The bank itself has said it is fully committed to future investments, and is"aligned" with strategies to grow Singapore's stature as a global financial services hub.
In announcing its freshly-minted status as an SRFB, the bank said it would invest another S$5 million to boost talent development and reskilling to support employment and skills across all stages of its employees' career cycle. The reality is that a"significantly rooted" label carries broader responsibilities that the bank will shoulder.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foreigners keep Singapore ‘economically relevant’, but pay attention to the Singapore worker: Pritam SinghSINGAPORE: There is a need to pay more attention to Singapore workers even as foreigners remain important in helping to “power” Singapore’s ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Root left out of England T20 squad for Australia seriesEngland test captain Joe Root has been left out of the Twenty20 squad for the three-match series against Australia but will return for the three ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Air Purifying Plants For A Fresh And Clean HomeAs anyone who lives in a crowded city will know, pollution on our streets is at critical level. But have you ever stopped to consider what the pollution levels might be like inside your house? Indoor pollution is something that we've become increasingly worried about over the past few years and
Source: YahooSG - 🏆 3. / 71 Read more »
Health authorities investigating spike in Group B Strep cases, advises caution when consuming raw fishSINGAPORE: Members of the public who consume raw fish should exercise caution, Singapore's health authorities warned as they investigate a spike ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
54 new COVID-19 cases in Singapore, including 8 in the communitySINGAPORE: Singapore reported 54 new COVID-19 infections as of noon on Sunday (Aug 30), including eight cases in the community. This brings the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
54 new Covid-19 infections in Singapore, including 8 in community and 7 imported casesSINGAPORE — Singapore has confirmed 54 new cases of Covid-19, said the Ministry of Health (MOH) in a press release on Sunday (Aug 30).
Source: TODAYonline - 🏆 1. / 99 Read more »