Is anyone else having an irrational fear that the lesser known banks in Singapore like CMIB and ICBC might be pushed over the edge and shut down due to the COVID-19?

I know about SDIC, but we are marching on towards a depression, the likes of which we haven’t experienced before

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Colin Lim

15 Apr 2020

Financial Services Consultant at Colin Lim

U mentioned SDIC... and do you know there is MAS? Before any financial institutions open busines in SG, MAS has a set of criteria for them to fulfill before giving them the licence.

the answer is no, I don't think so. we also need to know these 2 banks history..

icbc:

https://www.scmp.com/business/china-business/ar...

CiMB I suppose is 1 of the largest bank in Malaysia... 1 of Malaysia minister is from CIMB CEO.

#planwithcolin

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15 Apr 2020

Like you said, there is sdic, so what is to fear? if sdic were to default, the whole country or region will probably in crisis mode.

in the unlikely event they want to close shop, maybe the 3 big banks will come out buy over their assets at a cheap.

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