Singapore's luxury housing market is grappling with a $2bn money laundering scandal, contributing to a significant slump in high-end bungalow sales. The scandal has also implicated DBS Group, with the bank's exposure estimated at $74 million. Despite this, DBS beat profit forecasts with an 18% rise in Q3 net profit, attributed to strong commercial lending growth. The bank also recently experienced a service outage with Citigroup, resulting in 2.5 million failed transactions. In Australia, Westpac Bank reported a 26% rise in annual profits, announced a higher dividend, and plans a $980 million share buyback. India's Bank of Baroda also reported a 28.4% increase in Q2 net profit. The money laundering case in Singapore highlights a surge in cybercrime in the city-state.
About 2.5 million Singapore payment and ATM transactions could not be completed during DBS and Citigroup's recent service outage, a minister says https://t.co/MwLhKsBqbm
About 2.5 million Singapore payment and ATM transactions could not be completed during DBS and Citigroup's recent service outage, a minister says https://t.co/9FdGj4p6n2
About 2.5 million Singapore payment and ATM transactions could not be completed during DBS and Citigroup's recent service outage, a minister says https://t.co/PAYC1aRFch
DBS's exposure to a money laundering scandal in Singapore is about $74 million, mainly from financing properties of those arrested in one of the biggest such cases in the city-state https://t.co/a8kCawWnQ8
Singapore's largest bank DBS beats forecast, quarterly profit jumps 17% https://t.co/HfhBLlbB6H
Singapore DBS Q3 profit beats view, sees steady earnings next year https://t.co/DBH0FXzjIz https://t.co/9DHXi1GHY2
Luxury properties, cars, gold bars and cash: what a $2bn money-laundering case in Singapore reveals about the surge in cybercrime: https://t.co/lcUMM1T9pd Illustration: Juan Bernabeu https://t.co/GhCifXCaan
Australia's Westpac posts higher annual profit, intends $976 mln buyback https://t.co/FekgrpKA7E https://t.co/y4qTEYA87K
Westpac’s higher dividend and stock buyback puts the Australian lender on course to narrow its share-price under performance compared to peers https://t.co/DuMFr74PGH
Westpac’s higher dividend and stock buyback puts the Australian lender on course to narrow its share-price under performance compared to peers https://t.co/zG8xf3ab2X
DBS Group's profit surpassed analyst estimates in the third-quarter, propelled by strong margin growth in commercial lending https://t.co/CTw25O2FvM
Singapore's bank DBS third-quarter net profit rises 18% on-year https://t.co/0U5n0fQc6a https://t.co/Pf7Gyt0Jdk
DBS Group's profit surpassed analyst estimates in the third-quarter, propelled by strong margin growth in commercial lending https://t.co/8QvFdeBdGV
DBS Group's profit surpassed analyst estimates in the third-quarter, propelled by strong margin growth in commercial lending https://t.co/idNLhdRtUE
Singapore's bank DBS third-quarter net profit rises 18% on-year https://t.co/SPjRPz2O2N https://t.co/cGH5alEjiU
Australia's Westpac posts higher annual profit as key markets pump up earnings https://t.co/wU0ate1KlM https://t.co/xPUCwv0v46
Australia's Westpac posts 26% rise in annual profit https://t.co/xrXJjnY4Xw https://t.co/74EJ21NQH6
💰 AUSTRALIA'S WESTPAC POSTS 26% RISE IN ANNUAL PROFIT Australia's Westpac Banking Corp on Monday posted a 26% rise in annual profits, helped by growth across key markets including deposits and mortgages, while also commencing an A$1.5 billion share buy-back. https://t.co/JbUGoKvzlV
Westpac Bank lifted its dividend and said it will buy back A$1.5 billion ($980 million) of its own shares as strength in mortgages buoyed profit https://t.co/RkwewviDPP
Singapore's high-end bungalow sales are set for their worst year in nearly a decade. Read more on how luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market ⬇️ https://t.co/ahPoDJdoNd
Singapore's high-end bungalow sales are set for their worst year in nearly a decade. Read more on how luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market ⬇️ https://t.co/bpWrst7k0j
Singapore's high-end bungalow sales are set for their worst year in nearly a decade. Read more on how luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market ⬇️ https://t.co/5GP1gzA7Ii
Luxury properties, cars, gold bars and cash: what a $2bn money-laundering case in Singapore reveals about the surge in cybercrime https://t.co/BberurHvrr 👇
India's Bank of Baroda reports 28.4% rise in Q2 net profit https://t.co/VkZpiaSS8t https://t.co/lvOtsEqnkL
Singapore's high-end bungalow sales are set for their worst year in nearly a decade. Read more on how luxury housing deals are drying up as one of the nation’s largest-ever money laundering scandals weighs on the market ⬇️ https://t.co/iZ70sj5WmX