Singapore likely to assess COVID-19 impact on digital bank licence seekers

Bidders for five Singapore digital bank licences on offer will have to factor in how the COVID-19 outbreak has impacted their funding and profitability plans, as the central bank kicks off interviews with applicants over the next few weeks, three sources aware of the matter said.

Singapore has drawn interest from 21 applicants seeking to shake up its banking landscape in what would be its biggest liberalisation in two decades.

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