At 9.43 a.m. Singapore time, the bank said in a social media post on Facebook that it was facing “technical problems impacting our banking channels.”
Moreover, approximately an hour later, at 10.37 a.m., the bank also announced that card and branch services were recovered, followed by ATM services.
Also, in the afternoon trade, shares of the Singapore-headquartered lender gained 1.05%.
“OCBC sought to assure customers there was no security breach,” a bank spokesperson told CNBC.
“We want to assure them that their monies remained safe and customer data was secured throughout. We are investigating the cause of the technical problem and will provide an update as soon as we can,” an OCBC spokesperson said.
Earlier in May, Singapore’s largest bank, DBS, implemented an additional capital need after it suffered two service outages in February and March.
The Monetary Authority of Singapore stated after the disruption carried out in March that it was “unacceptable” and the investor had “fallen short of expectations.”
Furthermore, MAS announced that DBS needs to apply a coefficient of 1.8 times to its risk-weighted assets for operational risk, which brings its total regulatory capital to approximately 1.6 billion Singapore dollars, or $1.2 billion.
- Published By Team Genuine Reporter