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Singapore: Shaking the money tree: What lies ahead for Singapore’s banking sector
Singapore: Shaking the money tree: What lies ahead for Singapore’s banking sector
Sunday, 14 August 2016 – Mention Singapore as a financial centre and the image that comes to mind is the Marina Bay skyline. DBS is at Marina Bay Financial Centre. Across the road at Raffles Place are the impressive buildings of United Overseas Bank and OCBC Bank.
For years, local banks have gone from strength to strength, as has Singapore as a financial centre.
But there are cracks in the all-powerful facade. Consulting firm McKinsey & Company recently predicted that a “powerful storm” would shake up the Asia-Pacific banking industry in the wake of slowing global growth and a rise in bad loans. Read More?