DBS rolls out lending initiative, rebates for Singapore SMEs facing headwinds
Singapore's largest lender DBS is extending more support to small and medium-sized enterprises (SMEs) in the Republic, as they brace against economic headwinds.
More local businesses are expecting a drop in their revenue and profit margin as the economy slows, with trade tensions being a top concern among them, as seen from a survey by the Singapore Chinese Chamber of Commerce and Industry in August.
"More recently with the ongoing issues arising from the US-China trade war, our SME customers are facing overall weaker market sentiments and as a result, the lack of consumer confidence has negatively impacted sales revenues and trade flows," said Joyce Tee, the bank's managing director and group head of SME banking, in emailed replies to The Business Times.
Full story here.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
SMEs
One in three Singapore SMEs expect AI to replace or take over jobs: survey
Singapore companies make inroads into Japan
Fintech KPay aims to triple Singapore merchant base, double local workforce
Singapore SMEs in contractionary mode for fifth straight quarter: OCBC
B2K’s second-generation leaders paw a new path in pet products
Finding a growth vector with digital solutions