United Overseas Bank

UOB's bad loans take shine off profit

Troubles in the oil and gas services industry took the gloss off United Overseas Bank’s results, with bad loans increasing the most in more than a year.The Singaporean lender declared S$799 million (588 million dollars) of new nonperforming assets in the three months to September, overshadowing a better-than-expected profit figure that was driven by higher interest income and wealth-management fees.

3 November 2017

Singapore cryptocurrency firms facing bank account closures

Singapore banks have closed accounts of several companies which specialise in providing cryptocurrency and payments services, according to two local bodies which represent financial-technology firms.Noting that cryptocurrency firms have had similar problems with their banks in other countries, the head of Singapore’s Cryptocurrency and Blockchain Industry Association, or Access, asked the government to step in.“From our analysis, it appears to be common among leading FinTech hubs,” Access Cha

26 September 2017