Tag "DBS"
DBS Ups Stake in China’s Shenzhen Bank in S$376 Million Deal
DBS Group announced its intention to raise its stake in China’s Shenzhen Rural Commercial Bank, a move valued at S$376 million (approximately US$285 million), according to Reuters. The transaction is subject to regulatory approvals. The bank is set to increase
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DBS Set to Integrate All Investment Funds onto Euroclear’s Platform
DBS Bank has entered into an agreement with Belgium-based clearinghouse Euroclear to integrate all of its investment funds onto the latter’s funds platform. Euroclear’s platform will offer a comprehensive solution for the trading, custody, and distribution services of DBS Bank‘s
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Malaysia’s KWAP Gets S$180M Green Loan from DBS for Aussie Office Refinancing
DBS Bank has provided a green loan of AUD 207 million (S$180 million) to Malaysia’s Retirement Fund (KWAP). The loan is designated for refinancing a high-grade green office building in Melbourne, Australia. The office tower, entirely owned by KWAP, is
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UBS, SBI, and DBS Pioneer World’s First Blockchain-based Repo Transaction
UBS, SBI, and DBS have successfully completed the world’s first live repurchase transaction (repo) using a digitally issued bond on a public blockchain. This development represents a step forward in integrating blockchain technology into mainstream financial practices. The groundbreaking transaction,
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MAS Unveils Five New Industry Pilots Under Project Guardian
The Monetary Authority of Singapore (MAS) has teamed up with the financial industry to expand initiatives related to asset tokenisation. The goal is to enhance the foundational capabilities necessary to scale tokenised markets, ultimately driving institutional adoption of digital assets.
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DBS to Step up Hiring Engineering Talent to Fix Complex Software Bugs, Says CEO Piyush
DBS’ CEO Piyush Gupta revealed that software bugs or technical glitches were the root cause of four out of the five major service disruptions experienced by the bank in 2023, according to The Straits Times. Recognising the need for stronger
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810,000 Failed Logins, 2.5M Transactions Affected by DBS and Citi’s Service Disruption
The impact of the DBS and Citibank digital banking disruption on 14 October was wide, with up to 810,000 attempts to access the digital banking platforms of both banks failing between 2.54 pm and 4.47 am the following day. Approximately
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DBS Apologises for Service Disruptions, Sets Aside S$80 Million for System Resiliency
DBS had issued an apology for the series of digital banking disruptions this year and outlined a comprehensive roadmap to improve its technology resiliency. The bank said it is addressing the issues at hand with utmost priority and has taken
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DBS Faces 6-Months Freeze on IT Changes, New Ventures, and Branch/ATM Reduction
The Monetary Authority of Singapore (MAS) has imposed a six-month pause on non-essential IT changes at DBS Bank and prohibited the bank from acquiring new business ventures in response to recent disruptions to its digital banking services. DBS had experienced
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MAS to Take Supervisory Action Against DBS and Citibank After Service Disruptions
The Monetary Authority of Singapore (MAS) has instructed DBS Bank and Citibank to investigate why they were unable to fully recover their systems within the set timeframe during a recent banking services disruption. MAS requires all banks to have in
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