Banking stocks fell in London and across Europe as the Credit Suisse rescue deal failed to reassure investors.
Cryptocurrency exchange Coinbase will let customers in Singapore move funds to and from accounts via local banks, smoothing one path to investing in digital assets at a time when markets are on edge over financial stability and crypto banking. Transfers, in Singapore dollars, are facilitated by a traditional bank, Standard Chartered, and carry no fee, the company said in a statement. Hassan Ahmed, Coinbase's country director for Singapore, told Reuters in an interview the move was part of the company's international expansion strategy.
DBS Group Chief Executive Piyush Gupta earned S$15.4 million ($11.4 million) in 2022, a 13% increase in what was a banner year for Southeast Asia's biggest lender. The big payday for Gupta, 63, comes after DBS logged record net profit of S$8.2 billion last year, up 20% on the year, as banks reaped the benefits of higher interest rates. "We expect that as our digital transformation becomes more pervasive, an ROE of 15% is sustainable if interest rates do not return to the unusually low levels seen during most of the past decade," Gupta said in the annual report.