dbs is at it again

September 2, 2009 at 9:33 pm Leave a comment

No, i am not referring to another new CEO or another dispute with investors of its problematic minibonds.

i am talking about its latest decision to increase the minimum balance of POSB current account (regardless whether it is linked to POSB savings account) from $500 to $1500,anything lower will invite a penalty of $2 per month. That’s snatching Peter to pay paul.

It has suffered criticism when it imposed a minimum balance of 500 in the savings account. Yet, it don’t seem to have learn its lesson. Now,it is doing it in stealth, i have yet to see mainstream media reporting it.

In these days when banks’ earnings are suffering and reputation tarnished, they haven’t forget their motto “if we don’t squeeze the blood out of customers, who will pay our bonus”

Entry filed under: Watch your step. Tags: .

stephen roach is right A marathon indeed

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