This amount is a 0.21 percentage point impact on OCBC Bank’s Group capital ratios. There will not be any impact on its dividend policy.
The Monetary Authority of Singapore has imposed an additional capital requirement of $330 million, on OCBC Bank over deficiencies in the bank’s response to a wave of spoofed SMS phishing scams last December.
The amount is based on a multiplier of 1.3 times of the bank’s risk-weighted assets for operational risk as at March 31.
