DBS/POSB should sell their stake to UOB or OCBC?

[lolabunny]

From dead , you changed the story to mentally incapable. The meeting indeed occurred at OUB Centre and Wee walked across. Lien Ying Chow was frail but lucid. This was after the Paillert / Dhanabalan debacle where DBS paid $1 M each to UOB and OUB for offending them.

Are you the gardener at Holland Hill. You seem to like mentioning the place.

He got crush on Mrs Lien. It is obvious.

 

[theDoors]

 

[theDoors]

Jul 7, 2010
DBS chief says 'sorry'

Chief executive, Mr Piyush Gupta said: 'We are sorry for what happened. We took numerous measures to minimise inconvenience caused by the temporary disruption in services. -- PHOTO; REUTERS

Observers question bank's outsourcing of critical IT functions
By Gabriel Chen & Harsha Jethnani

DBS Bank apologised to customers yesterday after Monday's big systems crash that left customers and businesses in the lurch and in the dark for about seven hours.

Chief executive, Mr Piyush Gupta said: 'We are sorry for what happened. We took numerous measures to minimise inconvenience caused by the temporary disruption in services.

'We have commenced a full scale investigation and I am treating this matter with utmost priority.'

Mr Gupta's comments come after Monday's massive network failure that knocked out more than 1,000 ATMs..

Irate customers could not access the bank's internet and mobile banking facilities, while payments made on DBS debit and credit cards could not be processed.

To cope with the situation, DBS made arrangements to deploy additional staff at branches and its call centre. Cheques were honoured and urgent cash withdrawals up to $500 were permitted.

 

[theDoors]

It's up to banks to look at mergers: MAS

http://business.asiaone.com/Business/News/My+Money/Story/A1Story20100629-224423.html

Consolidation would give local players more financial muscle for expanding into overseas markets such as China and India.

Thu, Jul 01, 2010
The Business Times

(SINGAPORE) If Singapore's local banking scene does eventually narrow from three players to two, the consolidation will be driven purely by business merit and not with a regulatory whip, says the Monetary Authority of Singapore (MAS).

'MAS does not and cannot, dictate the precise number or configuration of local banks. The banks themselves have to evaluate the strategic and financial merits of any merger,' a MAS spokesman said.

The regulator was responding to remarks made by Minister Mentor Lee Kuan Yew last Friday that consolidation is needed as the Republic may not be big enough to accommodate all three existing players - DBS, UOB and OCBC. Consolidation would give local players more financial muscle for expanding into overseas markets such as China and India, Mr Lee told some 600 bankers at the annual dinner of The Association of Banks in Singapore.

'The government had encouraged the local banks to consolidate in the past, in order to benefit from economies of scale, to gain the size to develop into significant regional players, and to attract talent. This helped enhance the viability of Singapore banks that can hold their own in the local market and compete in selected international markets,' the MAS said.

In 2001, the government liberalised the banking sector and gave foreign banks greater freedom to operate here. Since then, the number of local banks have shrunk from seven to three.

'Even as the local banks seek to expand abroad, we must ensure that we have a competitive domestic banking sector which provides a full suite of financial services to consumers,' MAS explained. 'Ultimately, it is to our advantage to continue to have financially-strong banks whose long term interests remain aligned with Singapore's interests, and which contribute to a sound and competitive financial sector that effectively services the needs of the economy,' it added.

This article was first published in The Business Times.

 

[theDoors]

We all know DBS record when it comes to protecting jobs.


DBS cuts 900 jobs, reports 38% fall in Q3 profit

Date : 07 November 2008 1405 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/388278/1/.html

SINGAPORE: Singapore's DBS Group, Southeast Asia's biggest bank by assets, said on Friday it would be laying off 900 staff to trim costs amid the global credit crisis. The bank also reported a drop in third quarter net profit.

Chief executive Richard Stanley said most of the cuts, which would be carried out at the end of the month, will come from its offices in Singapore and Hong Kong and will account for 6 per cent of the workforce. He added that this was the largest lay offs ever.

The job cut will be across all businesses and all levels. The bank did not want to specify if the affected staff would come from DBS or POSBank.

Labour chief disappointed with DBS' sudden retrenchments

Date : 14 November 2008 1708 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/389845/1/.html

SINGAPORE: Labour chief Lim Swee Say has expressed his disappointment in the sudden decision by DBS Bank to cut 900 jobs.

In a statement, Mr Lim said that the bank had not consulted with the DBS Staff Union on other alternatives to cutting costs. As a result, the perception on the ground is that DBS Bank decided on retrenchment as a first resort.

He added that this has weakened the trust between the management and union, and that the reaction on the ground is critical and highly negative. Mr Lim said that "trust takes a long time to build, but a short time to destroy."

His message came in an eight-paragraph statement to the media, which urged companies not to use retrenchment as the first resort.

 

[krafty]

hey,twit,what have you got to say?

hey peasant, I ain't got no time to waste with you.

go back to where you belong!