Overseas Union Bank hopes Web joint venture clicks. (First-E in joint venture with Overseas Union Bank)

Article Abstract:

Singapore's Overseas Union Bank Ltd., announce joint venture with First-E, Europe's Internet banking firm to establish Asia's first online banking business. Financial analysts see the new venture as positive for Asia banks.

European Union, Financial analysis, Alliances, partnerships, Functions related to deposit banking, Electronic Banking Svcs, Other Telecommunications, Money Transfer Telecom Services, Telecommunications services industry, Telecommunications industry, Joint ventures, Electronic banking, Electronic funds transfer systems, First-E

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Sale of property, noncore assets shakes up Singapore bank

Article Abstract:

Oversea-Chinese Banking Corp., which has excess capital of S$5.78 billion, must sell its property assets valued at S$2.7 billion, and then deal with its equity investments. The Monetary Authority of Singapore is forcing banks to sell off noncore assets to protect the economy.

Sales, profits & dividends, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Finance, Economic policy, Oversea-Chinese Banking Corporation Ltd., Banking law, Singapore. Monetary Authority

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Bank bid suits authorities

Article Abstract:

United Overseas Bank Ltd. (UOB) has made a S$10 billion bid for Overseas Union Bank Ltd. (OUB), following a S$9.4 billion bid by the Development Bank of Singapore. The Monetary Authority of Singapore has voiced its support for the consolidation of the Singapore banking sector to make it more competitive in the region.

Asset sales & divestitures, Acquisitions & mergers, NONDEPOSITORY INSTITUTIONS, Nondepository Credit Intermediation, Nonbank Credit Institutions, Mergers, acquisitions and divestments, Financial services industry, Financial services, Financial institutions, DBS Bank Ltd., United Overseas Bank Ltd.

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