Cheekg98 1st Gear November 9, 2008 Share November 9, 2008 (edited) agree with u ... at least the other 2 local banks are not retrenching openly ... i guess sometimes the reward system has made it become this way ... Edited November 9, 2008 by Cheekg98 ↡ Advertisement Link to post Share on other sites More sharing options...
Modykoh 1st Gear November 9, 2008 Share November 9, 2008 me feeling the same. cut the ang mo can save few of the hundred .. they may justify that is a pre amp measurement and nto wise to take action only when - ve... Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 9, 2008 Share November 9, 2008 YES agree ... UOB run by locals are better managed ... Link to post Share on other sites More sharing options...
Modykoh 1st Gear November 9, 2008 Share November 9, 2008 for them, only here to make monies..don't even borther the welfare of the local. ask them to go back to see if they can make the same amount like herre.. and some of our local stupppid fellow thinks that they are bloody great... Link to post Share on other sites More sharing options...
Longg8 Clutched November 9, 2008 Share November 9, 2008 i agree..i think among the 3 banks..the best managed bank is UOB.... no wonder it is the largest mkt cap bank among 3.. haha. if you do some analysis on the 3 banks, OCBC has the lowest expense/income ratio of 40% while UOB has 44%... DBS YTD Net income is 1.6b which is the same as UOB which has a smaller asset base. meanwhile if you look at the Q3 performance of all 3 banks, i will say it is OCBC. main contributing factor is due to GE contribution of over 100m to Q3 NPBT.... blah blah blah..... so why is OCBC is always look upon as a bank waiting to be acquired? haha.. pardon my nonsensical post... Link to post Share on other sites More sharing options...
Check13 3rd Gear November 9, 2008 Share November 9, 2008 banks jialut now also lah.. went to a few banks to run errands and you see many of the Relation Manager swapping flies. No one dare to buy any pdt from these retail banks anymore. Now economy is bad, I think the amt of loan applications should fall, plus banks are moving up the bar for loan approval, their profit should drop... vicious cycle. I guess more handshakes to come... I pity those bankers that had bought new houses and new cars 1-2 years ago due to the bull mkt.. now sweat liao.. Y pity or worry for them? You think they give a damn about man on the street when they have a cigar on the left, a wine on the right and 2 mouths in the middle? Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 9, 2008 Share November 9, 2008 (edited) i think so far ocbc interest margin is the best among the 3 local banks... at least justify the angmo CEO there ... Edited November 9, 2008 by Cheekg98 Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 9, 2008 Share November 9, 2008 (edited) Banker gives up millions http://www.straitstimes.com/Breaking%2BNew...ory_300336.html Edited November 9, 2008 by Cheekg98 Link to post Share on other sites More sharing options...
oomph Neutral Newbie November 9, 2008 Share November 9, 2008 It only shows that DBS has a lot if fats lor feels like its taking the opportunity to get rid of "dead wood". I'm sure corporate loyatly would have gone out of the minds of dbs employees right now. with all that misselling going on, how do you think DBS is going to get better by getting rid of people ? Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 10, 2008 Share November 10, 2008 DBS cutting more than HSBC HSBC may cut 600 jobs HONG KONG - THE Asian arm of UK bank HSBC Holdings, HSBA.L may cut 600 more staff as economic conditions worsen, Hong Kong's Standard newspaper reported on Monday, citing unnamed sources. HSBC spokesman Gareth Hewett declined to comment. In September, the bank said it was cutting 1,100 jobs in its investment banking operation, or 4 per cent of the unit's total, including about 100 in Hong Kong, where the bank's Asian unit is based. HSBC was scheduled later on Monday to release its interim management statement and third-quarter results for its US business. -- REUTERS Read also: Deutsche Post to cut jobs, costs Link to post Share on other sites More sharing options...
Josho 1st Gear November 10, 2008 Share November 10, 2008 Bad times.... very bad times.... My bosses went to China to get more business, hoping it will be nice for my coy. *praying* Link to post Share on other sites More sharing options...
Chongster 6th Gear November 10, 2008 Share November 10, 2008 to be fair, the desks trading bonds, packaging derivatives all shaking legs. Link to post Share on other sites More sharing options...
oomph Neutral Newbie November 10, 2008 Share November 10, 2008 i agree..i think among the 3 banks..the best managed bank is UOB....no wonder it is the largest mkt cap bank among 3.. haha. if you do some analysis on the 3 banks, OCBC has the lowest expense/income ratio of 40% while UOB has 44%... DBS YTD Net income is 1.6b which is the same as UOB which has a smaller asset base. meanwhile if you look at the Q3 performance of all 3 banks, i will say it is OCBC. main contributing factor is due to GE contribution of over 100m to Q3 NPBT.... blah blah blah..... so why is OCBC is always look upon as a bank waiting to be acquired? haha.. pardon my nonsensical post... you did your analysis right - OCBC is too big for anyone to acquire. Especially now with large banks suffering losses from US sub prime fallout. all our 3 local banks have *MINIMAL* exposure to sub-prime losses simply because we didn't reach the US. even discounting the minibonds issue, I'd think this crisis at this stage is not as bad as the SARS one where no one was walking into banks. that said look at the results Q3'08 results: DBS $1b OCBC $0.7b UOB $0.9b Thats $2.6b of profits for thre banks in a bad quarter. Annualized Thats >$10b a year !!!! Can you call that a crisis for local banks ? Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 10, 2008 Share November 10, 2008 how many headcounts in these units ? Link to post Share on other sites More sharing options...
Cheekg98 1st Gear November 10, 2008 Share November 10, 2008 yupz ... maybe u shd teach accounting to that angmo. here's another good samaritan who wrote a good article ... http://www.channelnewsasia.com/stories/sin.../388781/1/.html Link to post Share on other sites More sharing options...
Solar Turbocharged November 10, 2008 Share November 10, 2008 me feeling the same. cut the ang mo can save few of the hundred .. they may justify that is a pre amp measurement and nto wise to take action only when - ve... and someone said singapore needs foreign talents to provide jobs for singaporeans? great vision! Link to post Share on other sites More sharing options...
Solar Turbocharged November 10, 2008 Share November 10, 2008 (edited) i think Temasek in deep trouble too ... its investment in one of australia company went bust too ... i think the name of co is ABC learning centre ??? as for IR, SG govt sure support one cos' it cannot go bust too ... if not, they will be slapping their own face its true.. here you go... our dear ms ho lost A$400mil here... http://business.smh.com.au/business/invest...dmh=dm16.344795 they bought in 2007, that time exchange should be 'bout 1.2, so, after conversion, near S$500mil. Edited November 10, 2008 by Solar Link to post Share on other sites More sharing options...
Modykoh 1st Gear November 11, 2008 Share November 11, 2008 imo, it may be better to cut the bonuses, wht need to pay few of the millions ??? just, benefits, cut down operation cost by mean of more productivities etc etc .. if all this fails, then retenchment exercise, ppl will understand...the first approach is to save the business and save the job. seem like cutting headcount is the easywaqy out to shown good nos when report come...hianz...!!! ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Lawyer beating staff caught on cctv
Lawyer beating staff caught on cctv
Mcdonald prepares for staff layoff, citing shift in strategy to focus on digital and delivery
Mcdonald prepares for staff layoff, citing shift in strategy to focus on digital and delivery
Cutting ties with parents
Cutting ties with parents
Borneo motor cut sales staff comm
Borneo motor cut sales staff comm
Concerns About Fast-Food Delivery Staff & Their Motorcycles
Concerns About Fast-Food Delivery Staff & Their Motorcycles
Ex-SMRT Staff on why SMRT kaput
Ex-SMRT Staff on why SMRT kaput
Laser cutting service
Laser cutting service
Feel bad for cutting queue - must apologize
Feel bad for cutting queue - must apologize