More consolidation in Singapore?

OCBC chief financial officer, Chris Matten talks about bank capital, regionalization and consolidation in Singapore.

Is the consolidation over in the Singapore banking sector, or is there more to go

That's a hard one to call. Put it this way, there is no reason why there shouldn't be another round of consolidation in the near future. There's no reason why a country the size of Singapore needs more than two banks. On the other hand, there's no compelling reason why the existing three should merge. You reach a certain size and certain mergers can become counterproductive. So it's a hard one to call. You could end up with a steady-state of two, or a steady-state with three.

Is it politically difficult to have another merger now, because of the unemployment...

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