Latest news with #Oversea-ChineseBankingCorporation
The Standard
21-04-2025
- Business
- The Standard
Lenders lowering time deposit rates
Several banks have started to lower their Hong Kong dollar time deposit rates as US President Donald Trump presses for interest rate cuts, though some lenders are still offering promotional rates to attract savers. Trump has been ramping up pressure on Federal Reserve chair Jerome Powell to cut interest rates, even reportedly considering to remove him. However, markets currently see little chance of a rate cut in May, with a 54.2 percent probability of a 25-basis-point cut and 7.4 percent for a 50-basis-point cut in June, according to data from the CME's FedWatch tool. Oversea-Chinese Banking Corporation has lowered its three-month Hong Kong dollar time deposit rate to 3.38 percent from 3.45 percent, while keeping its six- and 12-month rates unchanged at 3.2 and 3 percent, respectively. The offers apply to new funds with a minimum deposit of HK$100,000. Bank of East Asia has cut its online three- and six-month Hong Kong dollar time deposit rates to 3.05 and 2.95 percent, respectively. The offers, requiring a minimum of HK$10,000 in new funds, are available under its SupremeGold Banking Services. China Construction Bank (Asia) has bucked the trend by raising its time deposit rates, offering 3.45 percent for three-month terms and 3.3 percent for six-months, while its 12-month rate stands at 3.1 percent. All rates apply to new funds with a minimum deposit of HK$1 million. STAFF REPORTER
Zawya
27-01-2025
- Business
- Zawya
Moves: Bank of Singapore makes six new appointments in Dubai
SINGAPORE: Bank of Singapore, one of Asia's biggest private banks, said on Monday that it has made six new appointments in Dubai to enhance its advisory and product solutions in the region. Bank of Singapore, part of Singapore's second-largest lender Oversea-Chinese Banking Corporation, said in a statement that Zeena Abou Elnaja joined its investment advisory team from Swiss bank Julius Baer. The private bank added that Mehvish Ayub joined as a senior specialist covering managed solutions and alternatives in the region from State Street Global Advisors. Bank of Singapore also welcomed Brandon Chee as a product specialist covering equity and structured products advisory, and Anish Mehta as a product specialist on the FX or foreign exchange advisory desk. It also announced Yasmine Omari as the head of wealth planning for the bank's Dubai operations and Fatima Al Zadjali as director for marketing and communications. "These hires are key for us strategically as we continue to build our Dubai hub's presence across the region," Ranjit Khanna, Bank of Singapore's head of private banking for Europe and the Middle East and chief executive for Dubai, said in the statement. Reuters reported in August last year that Bank of Singapore aimed to grow its business in the Middle East with the region contributing up to 20% of its overall revenue and private banking assets over the next three to five years from around 10%. (Reporting by Yantoultra Ngui; Editing by Saad Sayeed)
Reuters
27-01-2025
- Business
- Reuters
Bank of Singapore makes six new appointments in Dubai
SINGAPORE, Jan 27 (Reuters) - Bank of Singapore, one of Asia's biggest private banks, said on Monday that it has made six new appointments in Dubai to enhance its advisory and product solutions in the region. Bank of Singapore, part of Singapore's second-largest lender Oversea-Chinese Banking Corporation ( opens new tab, said in a statement that Zeena Abou Elnaja joined its investment advisory team from Swiss bank Julius Baer (BAER.S), opens new tab. The private bank added that Mehvish Ayub joined as a senior specialist covering managed solutions and alternatives in the region from State Street Global Advisors. Bank of Singapore also welcomed Brandon Chee as a product specialist covering equity and structured products advisory, and Anish Mehta as a product specialist on the FX or foreign exchange advisory desk. It also announced Yasmine Omari as the head of wealth planning for the bank's Dubai operations and Fatima Al Zadjali as director for marketing and communications. "These hires are key for us strategically as we continue to build our Dubai hub's presence across the region," Ranjit Khanna, Bank of Singapore's head of private banking for Europe and the Middle East and chief executive for Dubai, said in the statement. Reuters reported in August last year that Bank of Singapore aimed to grow its business in the Middle East with the region contributing up to 20% of its overall revenue and private banking assets over the next three to five years from around 10%. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
