Singapore conducts huge volume of international payments due to its stature as a global financial centre, a major trade finance hub and a gateway for investments into Asia.
SINGAPORE (Dec 1): UOB Kay Hian is maintaining Singapore’s banking sector on “overweight” as the recent boom in mobile payments is paving the way for Singapore to become a cashless society.
The research house’s top “buy” local banks are DBS Group Holdings and Oversea-Chinese Banking Corp with target prices of $26.10 and $12.56 respectively.
