Regional expansion is becoming increasingly expensive with regulations - a route that lenders here nonetheless must take, given the size of the domestic market, said DBS Chairman Peter Seah.
“Because of our size, all three of us have to operate outside of Singapore,” said Seah, referring to the three banks here. “For our Singapore operations alone, we are severely over-capitalised.”
Singapore banks are among the world’s most well-capitalised banks. Their core capital ratio, which is measured against risk-weighted assets, is at two percentage points above that of standards prescribed under Basel III.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Anshuman Daga; Editing by Subhranshu Sahu)