It is not only the customers of BOI who stand to gain from this initiative, but it also improve the internal efficiencies within BOI where activities related to physical payment acceptance and reconciliation will be reduced dramatically.
Clients who activate the “Citibank Global Wallet” would be able to buy the foreign currencies at preferred rates online, and can withdraw them at ATMs overseas or make transactions through debit cards when traveling abroad, Hu said.
Many are no longer feeling the love after the bank hiked its annual compensation bill to $2 billion arising from the Hayne commission, and saw its share price slide around 7 per cent over the next several sessions.
The Commonwealth director of public prosecutions, which is prosecuting the case, said it was unable to comment on matters before the courts.
Martin said in an interview that “We continue to double down on Asia, pivot to Asia, grow Asia wealth.
Total business loans grew 1.1 percent to S$422.7 billion in August versus a month ago while total consumer loans fell 0.2 percent to S$262.1 billion in August, marking the fourth straight month of contraction.