Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit


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leejay

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Sep 18, 2006
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I feel that no company would execute 900 heads unless they are in extreme doldrums.
 

eow

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Jun 22, 2004
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#3
oh dear.... it is safe to still put my saving with dbs?
 

reachme2003

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Oct 6, 2003
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yes, lah! remember that all deposits with banks here are guaranteed by our govt and backed against 150 billion of our reserves. sleep well.



Yes, it's still safe ... refer to Para 6 of this joint press release by MAS and MOF ...
 

Dec 14, 2003
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Toa Payoh
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yes, lah! remember that all deposits with banks here are guaranteed by our govt and backed against 150 billion of our reserves. sleep well.
Just wondering how do we actually know the govt actually has USD$150 billion?

Is there a website we can find out if the Singapore govt has that much reserves?

It's all on papers only.......for us to feel secure but are we really secure?
 

Dec 19, 2007
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#8

huggable

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Nov 2, 2004
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#9
That's a pretty big lay-off. Furthermore, the bank is 38% in the red. :sweat:

Let's hope the economy can pick up.
 

reachme2003

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Oct 6, 2003
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ok. ask president nathan, who accordingly to many singaporeans, holds the third key in the cpf's logo.

Just wondering how do we actually know the govt actually has USD$150 billion?

Is there a website we can find out if the Singapore govt has that much reserves?

It's all on papers only.......for us to feel secure but are we really secure?
 

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reachme2003

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Oct 6, 2003
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#12
right! dbs must act like they are responding to the situation. eg. 80 million set aside for compensating its customers over mis-selling.


It's less 38% profit, not a 38% negative profit..
 

sORe-EyEz

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Jun 28, 2005
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#14
That's a pretty big lay-off. Furthermore, the bank is 38% in the red. :sweat:

Let's hope the economy can pick up.
is that why some ATMs got no cash inside at some places (just yesterday 3 nearby my home cannot dispense any note$$?.... :sweat:

i wonder how safe my savings is... :sweat:
 

reachme2003

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Oct 6, 2003
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#16
still wondering? could be cockup by certis cisco personnel. rest easy!


is that why some ATMs got no cash inside at some places (just yesterday 3 nearby my home cannot dispense any note$$?.... :sweat:

i wonder how safe my savings is... :sweat:
 

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drakon09

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Aug 12, 2005
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Well, it had to happen sooner or later.
 

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