Our material matters identification process

IDENTIFY

Indentify

We identify matters that may impact the execution of our strategy. This is a group-wide effort involving inputs from all business and support units, and takes into account feedback from stakeholders.

PRIORITISE

Prioritise

From the list of identified matters, we prioritise those that most significantly impact our business and relationships with stakeholders.

INTEGRATE

Integrate

Where relevant, material matters are integrated into our balanced scorecard.

OPERATING ENVIRONMENT

Material matters
What are the risks?
Where do we see the opportunities?
What are we doing about it?

Challenging macroeconomic environment

The macroeconomic environment, characterised by lacklustre global growth, falling commodity prices and market volatility, gives rise to business and credit risks.

As regional and global competitors grapple with weaker earnings prospects and pull out of Asia, we see an opportunity to further expand in the region.

Evolving regulatory landscape

The Basel Committee continues to calibrate capital requirements, which may affect banks' existing business models.

With capital well above regulatory requirements, we are in a strong position to serve existing and new customers. We also have greater flexibility for capital and liquidity planning.

DIGITAL TRANSFORMATION

Material matters
What are the risks?
Where do we see the opportunities?
What are we doing about it?

Digital disruption and changing consumer behaviour

Technology and mobility are increasingly shaping consumer behaviour. Traditional banks risk losing their relevance as fintechs rise to capture market share in niche segments.

Digital disruption is also an opportunity if we successfully transform ourselves to capitalise on the shift towards digital and leapfrog the competition.

Cyber security

The prevalent threat of cyber attacks on financial institutions remains one of our top concerns.

A well-defined cyber security strategy and capability gives confidence to customers and can differentiate us.

RESPONSIBLE BANKING

Material matters
What are the risks?
Where do we see the opportunities?
What are we doing about it?

Combating financial crime

Financial crime, including money laundering and corruption, has corrosive effects on society and gives rise to compliance and reputational risks.

By contributing to Singapore's reputation as a clean and trusted financial centre, we can uphold our reputation as the safest bank in Asia. Such a reputation can help us attract customers and investors.

Fair dealing

Failure to observe fair dealing guidelines gives rise to compliance and reputational risks.

Customers are more likely to do business with us if they believe that we are fair and transparent. This will lower the cost of customer acquisition and free up resources for stakeholder value creation.

Responsible financing

The public demands that banks lend only for appropriate corporate activities. Failure to do so gives rise to reputational and credit risks.

We see an opportunity to make a positive impact to society and the environment through our lending practices. This will in turn make us appealing to investors who are increasingly looking to invest in sustainable companies.

PEOPLE

Material matters
What are the risks?
Where do we see the opportunities?
What are we doing about it?

Talent management and retention

Failure to attract and retain talent impedes succession planning and expansion into new areas such as digital.

Talented and engaged employees will enable us to be nimble and agile in responding to changes in our operating environment.

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