Category: DBS Bank

Private banking: Singapore, Indonesia in private banking tug-of-war

Indonesians hold $300 billion in Singapore; controversial tax amnesty on the cards. Indonesia’s finance minister Bambang Brodjonegoro told Euromoney earlier this year that tax collection falls way short of targets and must improve to provide funding for infrastructure and other projects It doesn’t take much for Indonesia’s government officials to...

Plunging China trade loans test Singapore banks

By Saeed Azhar SINGAPORE, May 5 (Reuters) – Singapore banks, which have enlarged their China credit exposure in recent years, were hit by a drop in billions of dollars of China trade financing deals as mainland borrowing conditions became easier while offshore interest rates grew more expensive. The premium of...

Asian cities attract more overseas money than Switzerland

Jeremy Grant in Singapore Clampdowns on bank secrecy in Europe and a proliferation of billionaires in Asia helped Hong Kong and Singapore attract more overseas money over the past two years than rivals such as Switzerland, according to a report by Deloitte. The consultancy’s annual ranking of wealth centres highlights...