Ocbc, Singtel, Virtual Bank Licence

Ocbc, Singtel

OCBC in talks with Singtel about virtual bank license, say sources

.@OCBCBank in talks with @Singtel about virtual bank license, say sources

21.8.2019

. OCBC Bank in talks with Singtel about virtual bank license, say sources

[SINGAPORE] Oversea-Chinese Banking Corp ( OCBC ) is in talks with companies including Singapore Telecommunications about seeking one of the city-state's planned virtual bank licenses, according to people familiar with the matter. Read more at The Business Times.

[SINGAPORE] Oversea-Chinese Banking Corp (OCBC) is in talks with companies including Singapore Telecommunications about seeking one of the city-state's planned virtual bank licenses, according to people familiar with the matter.

OCBC's discussions are preliminary ahead of more details on the conditions for the new license applications which the MAS is expected to issue later this month, the people said. The eventual choice of partners may change depending on licensing conditions, they added.

"We are open to forging new partnerships and ventures that allow us to serve new segments and new markets," OCBC's head of digital and innovation Pranav Seth said in an emailed reply to questions, while declining to comment on any talks on a virtual license application.

The Monetary Authority of Singapore (MAS) said in June it plans to issue as many as five new digital bank licenses to non-bank firms as part of efforts to strengthen competition in financial services. The UK and Hong Kong are among major economies that have allowed licenses for virtual banks, creating a new generation of rivals for traditional lenders.

In Hong Kong, Standard Chartered holds a 65 per cent stake in one of the territory's new virtual banks, with PCCW, HKT Trust & HKT Ltd and Ctrip Financial Management (Hong Kong) Co owning the balance.

Read more: The Business Times

UOB, OCBC and DBS lead in study of Asean sustainable bankingAMONG 35 Asean banks assessed, only the three Singapore banks and a Thai financial institution met at least half the criteria in a survey of their performance in environment, social and governance (ESG) integration. Read more at The Business Times.

OCBC to push for growth in Greater Bay AreaDespite the ongoing protests in Hong Kong, OCBC Bank said it will be pushing ahead with its plans to grow in China's Greater Bay Area. Chief executive Samuel Tsien said last Tuesday the bank is on track to reach its target - previously cited as $1 billion in profit by 2023...

UOB, OCBC and DBS lead in study of Asean sustainable bankingAMONG 35 Asean banks assessed, only the three Singapore banks and a Thai financial institution met at least half the criteria in a survey of their performance in environment, social and governance (ESG) integration. Read more at The Business Times.

Saudi Aramco asks banks to pitch for roles in planned IPO: sourcesSaudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with ...

Saudi Aramco asks banks to pitch for roles in IPO: sourcesSaudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with ...

WhatsApp in talks to launch mobile payments in Indonesia: SourcesJAKARTA (REUTERS) - Facebook Inc's messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation's fast growing e-commerce sector, people familiar with the matter said.. Read more at straitstimes.com.

Write Comment

Thank you for your comment.
Please try again later.

Latest News

News

21 August 2019, Wednesday News

Previous news

Shamed Chinese tourists apologise after smashing up ancient stalactite

Next news

In high-tech Japan, cash is still king