New business: Singtel logos, previously stylised as SingTel, are displayed outside its building in Singapore. Its joint venture with Grab Holdings to start a digital bank in Singapore is a strong candidate for a full digital banking licence. — AFP
SINGAPORE: Singapore Telecommunications Ltd (Singtel) might have to commit more than S$600mil (US$440mil) to its joint venture with Grab Holdings Inc that wants to start a digital bank in Singapore, according to DBS Group Holdings Ltd.
The venture “is a strong candidate for a full digital banking licence, ” DBS analyst Sachin Mittal wrote in the report published yesterday.
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