- The Monetary Authority of Singapore (MAS) has taken further action against DBS (SGX:D05) following various incidences of digital banking service outages this year. These include barring DBS from reducing local branch and ATM network, as well as undertaking acquisitions for the next six months.
- - Read this at SGinvestors.io -
MAS takes action on DBS ...
- On the back of various disruptions to DBS’s banking services that had occurred this year, MAS announced yesterday that it has imposed a six-month pause on DBS’s non-essential IT changes (except for those related to security, regulatory compliance and risk management) to ensure that DBS maintains focus on restoring the resilience of its digital banking services.
- - Read this at SGinvestors.io -
- For now, MAS kept the multiplier of 1.8x to DBS's risk weighted assets for operational risk, which was imposed after the Mar and May 2023 incidents.
… following several service disruptions this year,
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2023-11-02
Read also RHB's most recent report:
2026-05-28 DBS - A Core Holding For SG Bank Investors; Stay BUY.
Previous report by RHB:
2026-05-04 DBS - Non-interest Income Lifts 1Q Earnings To A Decent Start.
Price targets by 4 other brokers at DBS Target Prices.
Listing of research reports at DBS Analyst Reports.
Relevant links:
DBS Share Price History,
DBS Announcements,
DBS Dividend Payout Dates & Corporate Actions,
DBS News
