Singtel may commit over $440m to digital bank venture with Grab

Singapore Telecommunications Ltd. might have to commit more than S$600 million ($440 million) to its joint venture with Grab Holdings Inc. that wants to start a digital bank in Singapore, according to DBS Group Holdings Ltd.

The venture “is a strong candidate for a full digital banking license,” DBS analyst Sachin Mittal wrote in the report published Tuesday. Singtel may need to make the investment over the “long term,” he said.

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