Richard Otsuki

1 week ago | finews.asia | Richard Otsuki

OCBC: Tariffs Could Have Low Single Digit Impact on LoansSingapore-based OCBC outlined potential headwinds from tariff-related risks, including a low single digit impact on its loan book. OCBC maintained its financial targets for 2025 including a net interest margin of 2 percent in the region, mid-single digit loan growth, a cost-income ratio in the low 40s, 20 to 25 basis points of credit costs, 60 percent dividend payout ratio and share buybacks of S$2.5 billion ($1.9 billion) over two years.

1 week ago | finews.asia | Richard Otsuki

Grandtag Opens New Office in SingaporeHigh net worth insurance broker Grandtag Financial Consultancy has opened a new and bigger office in Singapore to house its enlarged headcount in the city-state. Grandtag Financial Consultancy has opened a new office in Singapore, according to a statement. The office is 40 percent larger than the high net worth insurance broker’s previous location, housing the city-state’s headcount which has more than doubled over the last two years.

1 week ago | finews.asia | Richard Otsuki

Raffles Family Office Adds Duo to Board, Front OfficeExternal asset manager Raffles Family Office has strengthened its board and front office with two new appointments. Raffles Family Office has appointed Terence Seow as managing director, board advisor, according to a statement, tasked with supporting strategic guidance. He has over 40 years of experience in banking and financial services, having held senior positions at Citibank, DBS, Bank of Singapore and other major financial institutions.

1 week ago | finews.asia | Richard Otsuki

OCBC Boosts Credit Allowance for Macro RisksSingapore-based OCBC allocated a higher credit allowance in the first quarter of the year in anticipation of greater uncertainty in the economic outlook. OCBC’s net profit fell 5 percent year-on-year to S$1.9 billion ($1.5 billion) in the first quarter of 2025, according to the bank’s financial results.

1 week ago | finews.asia | Richard Otsuki

DBS: Structural Gains From Wealth Versus PB-Only BusinessThe private banking business is generally «quite lumpy», according to DBS CEO Tan Su Shan who believes that a bank that covers the full wealth continuum is better positioned to capture the structural growth trend. In the first quarter of 2025, DBS’ private banking arm saw net new money of S$3 billion ($2.3 billion), according to DBS CEO Tan Su Shan during a media briefing, which included a S$2 billion outflow.