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Retail Asia07/09/2020

DBS’s private banking arm saw net new money inflows surge in the first half of 2020 driven by a diversified range of client segments. Net new money inflows surged by 170 percent in the first half for DBS Private Bank which saw assets under management (AUM) climb 9 percent in the same period, according to […]

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Retail Asia05/09/2020

Learn to Trade Online- It’s an Intricate Affair Trading online may not be as easy as you think. Also, it is riskier than many perceive it to be, especially if you are involved in guess work, and haven’t done your homework. Many of us have capitalized on online money making opportunities, leaving no stone unturned. […]

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Retail Asia03/09/2020

The firm joins a string of international banks that have registered with Chinese authorities to set up onshore brokerages after the financial market supervisor loosened the rules on foreign access to financial markets. DBS Bank has received approval to establish a securities brokerage joint venture in China, which will provide brokerage, securities investment consulting, securities underwriting and […]

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Retail Asia27/08/2020

Citi’s treasury and trade solutions unit promotes its former head of trade finance for Asia Pacific to lead the region’s trade unit. Citi Treasury and Trade Solutions (TTS) appoints Kanika Thakur as its Asia Pacific trade head, effective immediately, according to a statement. Thakur succeeds Vishal Kapoor was named head of TTS for Citi Hong Kong in May this […]

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Retail Asia24/08/2020

He joins from Maritime Bank, a Vietnamese bank where he was CEO for four years before taking up its deputy chairman position earlier this year. Deutsche Bank has appointed seasoned banker Huynh Buu Quang to lead the bank’s expansion of its franchise in Vietnam, pending State Bank of Vietnam approval. As chief country officer Vietnam, Huang will be based […]

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Retail Asia21/08/2020

The bank is the sole financier for one of the world’s largest inland floating solar photovoltaic systems to date. DBS Bank has provided a $40 million loan facility to Sembcorp Industries to build a 60 megawatt-peak (MWp) floating solar photovoltaic (PV) system on Tengeh Reservoir in Tuas, Singapore, the bank announced on Thursday. The reservoir, scheduled […]

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Retail Asia20/08/2020

U.K.-based enterprise data management company Solidatus said it will accelerate its growth plans in the region, following a strategic investment by Citi. Citi, the first major investor in the startup, will also implement the Solidatus platform internally at a global enterprise level, according to an announcement on Tuesday. Solidatus’ software helps organizations to gain greater insight […]

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Retail Asia19/08/2020

The bank hopes to equip its employees with skills in these areas, under a partnership with cloud services provider Amazon Web Services (AWS). DBS Bank will accelerate the use of artificial intelligence (AI) and machine learning (ML) across its business by training its staff in these skills with the launch of the AWS DeepRacer League, the bank […]

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Retail Asia19/08/2020

The Singapore-based subsidiary of leading Chinese retail fintech Lufax has announced a strategic partnership to meet rising demands for digital financial services in Thailand. Lu will work with Kasikornbank to jointly build a digital wealth management platform, which will be jointly operated and managed by both parties, to serve retail investors in Thailand, the company announced in […]

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Retail Asia18/08/2020

Asia will contribute a much higher percentage to UBS’ earnings going forward, according to Edmund Koh, the head of the company’s business in the region. One reason is the region’s faster recovery from the corona-crisis. Asia contributed 30 percent to the profit of UBS in the first half of 2020, the first time that the […]

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Retail Asia17/08/2020

The co-branded solution to address investor needs during times of stress and uncertainty and has a built-in dollar-cost averaging feature. French asset manager Amundi and OCBC Bank on Wednesday announced the launch of the Amundi-OCBC Momentum Fund – a mixed-asset product that invests in global bonds and equity ETFs. According to its prospectus, the Momentum Fund lets the portfolio […]

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Retail Asia14/08/2020

The solution aims to improve productivity and remove inefficiencies in the sector’s procurement and payment processes.DBS Bank has partnered with Singapore fintech Doxa to pioneer a procure-to-pay solution for Singapore’s construction sector, according to an announcement on Thursday. DBS worked with the main contractor Tiong Seng Group and its supplier network to validate the construction industry’s […]

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Retail Asia14/08/2020

Following a review by its new CEO, the bank will wind down all of its non-European corporate banking operations and stop providing trade and commodity finance. «We will serve clients in segments where we can achieve scale, so we will focus on the Netherlands and Northwest Europe, where we will invest and grow,» CEO Robert Swaak, […]

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Retail Asia12/08/2020

The French insurer is reportedly considering the sale of its Singapore business as part of plans to raise funds by divesting peripheral operations. The firm is working with an adviser on the potential sale, which could take place in the next few weeks, Bloomberg reported on Tuesday, citing people familiar with the matter. The business, […]

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Retail Asia10/08/2020

The bank recorded a decline that was steeper than predicted by analysts, owing to soaring provisions for loan losses and shrinking lending income during the Covid-19 pandemic. OCBC’s net profit for the second quarter of 2020 was S$730 million ($533 million), up 5 percent from the previous quarter and 40 percent lower compared to a year […]

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Retail Asia10/08/2020

DBS Private Bank has appointed a successor to Piere DeGagne, the former head of fund selection and advisory who is leaving the bank. John Ng was appointed as DBS Private bank’s new head of fund selection and advisory last month to replace DeGagne, who is returning to Canada this month for personal and family reasons, according […]

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Retail Asia07/08/2020

A five-fold surge in allowances primarily focused on coronavirus-linked risks drove net profits at DBS to tumble 26 percent in the first half. DBS Group posted a net profit of S$2.41 billion ($1.76 billion) in the first half of 2020, a 26 percent year-on-year drop, according to a statement. This was driven largely by a […]

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Retail Asia06/08/2020

HSBC stay on course with its China ambitions with the latest target to hire 2,000 to 3,000 wealth planners over the next four years for its mainland business. HSBC’s will seek to broadly expand its count of wealth planners in Asia with much of the growing focus placed on China where it could hire up […]

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Retail Asia04/08/2020

Standard Chartered in Asia has been rejigging its mix of employees in recent years with a focus on upping headcount in certain markets while increasing digital penetration in others. Since 2018, Standard Chartered has steadily increased its number of employees in Singapore by 1,200 to reach 10,000 while maintaining its global headcount relatively stable at […]

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Retail Asia04/08/2020

HSBC’s pre-tax profits plummeted in the first half by 65 percent year-on-year as the Asia-focused lender further boosted loan loss provisions to ready for more headwinds. HSBC registered $4.32 billion in pre-tax profits compared to $12.41 billion in the same period last year and analyst forecasts of $5.67 billion, according to compilations made by the […]

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