Policy & Regulations
Despite the potential benefits of Libra, concerns raised about the way it would function are “not trivial,” MAS managing director Ravi Menon said.
UOB is the only Singapore bank that’s still run by a family after Oversea-Chinese Banking Corp. and others chose outsiders as their CEO or merged.
Menon’s term extension comes as the US-China trade war and weaker global demand clouds the outlook for Singapore.
Virtual banks typically have lower operational costs than traditional lenders that rely on brick-and-mortar branch networks.
OCBC becomes the latest foreign bank seeking to capitalize on China's financial-industry loosening.
Citigroup Inc., which held second place in 2017, was dropped from the annual ranking together with DBS Group Holdings Ltd.
Indonesia is among the markets where BNP Paribas is exploring an onshore presence.
Chinese millionaires are increasingly looking to set up offshore structures to protect their fortunes from the mainland’s newly toughened tax regime
In return, Malaysia offered stakes in railway and pipeline projects as part of China’s Belt and Road Initiative.
Most of the former BNP bankers are based in Hong Kong, with the remainder in Singapore.
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