The Straits Times Archives - ÂÒÂ׶ÌÊÓƵ Know More. Risk Better.® Tue, 18 Oct 2022 13:59:00 +0000 en-US hourly 1 /wp-content/uploads/cropped-favicon-512x512-1-32x32.png The Straits Times Archives - ÂÒÂ׶ÌÊÓƵ 32 32 Singapore banks fight for market share in fixed deposits and savings accounts https://www.straitstimes.com/business/banking/local-banks-fight-for-market-share-in-fixed-deposits-and-savings-accounts%20https://www.pressreader.com/singapore/the-straits-times/20221011/282084870704727#new_tab Mon, 10 Oct 2022 13:58:52 +0000 /?p=10121 Mr Pramod Shenoi, head of Asia-Pacific financials research at ÂÒÂ׶ÌÊÓƵ, the debt research unit of ratings agency Fitch, said banks are also trying to shore up their liquidity. ÂÒÂ׶ÌÊÓƵ data...

The post appeared first on ÂÒÂ׶ÌÊÓƵ.

]]> Mr Pramod Shenoi, head of Asia-Pacific financials research at ÂÒÂ׶ÌÊÓƵ, the debt research unit of ratings agency Fitch, said banks are also trying to shore up their liquidity. ÂÒÂ׶ÌÊÓƵ data showed deposit growth slowed at all the three local banks in the second quarter of 2022, compared with the first quarter. Mr Shenoi said UOB stood out because deposit growth fell quarter on quarter by 1 per cent. OCBC saw a deposit growth of below 1 per cent. Only DBS managed to still have a deposit growth of above 1 per cent. The local banks have also taken the fight to savings accounts to shore up their current and savings accounts (Casa). The Casa ratio, which measures the percentage of deposits in current and savings accounts as a percentage of total deposits, has declined for all three banks in the current quarter. “The higher the Casa ratio, the more margin the bank can make,” said Mr Shenoi.

The post appeared first on ÂÒÂ׶ÌÊÓƵ.

]]>