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ING's history in Canada dates back to 1997 when it founded ING Direct Canada, the first ING Direct operation in the world. [66] By July 2011, ING Direct Canada had over 1.7 million clients, employed over 900 people and had over US$37.6 billion in assets.
In October 2009, OCBC acquired ING Asia Private Bank as a result of ING's restructuring plan, following a government bailout of ING Group in 2008, [6] due to the financial crisis in the late 2000s. After completed the acquisition, Bank of Singapore was launched on 29 January 2010 from the combination of ING Asia Private Bank and OCBC Private Bank.
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
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Under Indian law, this move allowed ING to increase its total equity holdings in Vysya Bank from 20% to 44%. Peter Alexander Smyth and Jacques PM Kemp were appointed to the board of the newly formed ING Vysya Bank. ING Vysya Bank then appointed Bart Hellemans as CEO and managing director (MD) and G Mallikarjuna Rao as chairman of the board.
The MAS Electronic Payment System, or MEPS in short, is an SGD-only online interbank payment and fund transfer system in Singapore. [1] It went online in July 1998, and is owned and operated by the Monetary Authority of Singapore (MAS). The irrevocable transfer of funds and the real-time nature of transfers are some of the key features of MEPS.
Until 1985, subscribers' telephone numbers in Singapore were five and six digits. Five digits were introduced in 1960s, whereas 5-digit and 6-digit phone numbers were introduced in 1960s as fixed lines grew, but in that year, these changed to seven digits as the introduction of new towns arose (Tampines, Jurong East, Bukit Batok, Yishun and Hougang) and a large number of new numbers were required.
Using the 6-digit postal code to look up the Central Public Lirbary in the OneMap application. Due to Singapore being a small city-state and most buildings having singular, dedicated delivery point, the postal code can be used as a succinct and precise identifier of buildings in Singapore, akin to a geocode.