![]() Its unsecured term loans are priced from 5 per cent a year while secured term loans start from 4 per cent a year, according to its website. The bank can also use a firm’s intellectual property as collateral, he said, adding that it provides working capital to some start-ups from the National University of Singapore’s entrepreneurial arm with mature products that are ready to be tested.ĭespite its strong start, the bank will need to contend with global headwinds such as slowing economic growth and rising interest rates, which could weaken firms’ ability to repay their loans.īut Dr Geng said GLDB uses data mining and analytics to manage uncertainties – for example, by dynamically pricing its loans based on a firm’s level of risk. This gives it a more accurate picture of the firms’ revenue, profit and other financial data, said Dr Geng.įor example, it could provide a larger loan if a firm indirectly supplies goods and services to an “anchor buyer” that is an established company, he said. Its platform, which taps technologies such as artificial intelligence and the blockchain, allows it to collect data about these companies by tracking their role in supply chains. GLDB lends to firms that might not have the credit history or collateral needed to borrow funds from traditional banks. The lender is currently supporting its expansion here by growing its workforce – largely made up of local staff – by 50 per cent to 130 people this year, hiring in areas such as risk management, compliance and business development. ![]() As we look ahead, GLDB is committed to deepening our roots in Singapore to meet the needs of our clients here,” he said. “GLDB is incorporated in Singapore, and I would like to think that we are a Singaporean bank in essence. However, he said that Singapore is the bank’s priority. “This forms ecosystems which not only facilitate trade but also ease the way of doing business and lower overall transactional costs,” said Dr Geng. ![]() Greenland holds a majority stake in GLDB. The group uses a supply chain platform that serves as a bridge to connect buyers and suppliers from around the world and within China. The bank might set up a subsidiary in China after it grows to meet certain conditions, and if the business environment is suitable, he said. ![]() But it is not ruling out bringing its services to China, where it already has a competitive edge from Greenland’s presence, he said. GLDB currently does not plan to obtain licences in other markets. “This country is a window to others in the region and we want to continue playing a role in promoting trade flows across the region,” Dr Geng told ST on Wednesday at the bank’s office in Mapletree Business City during a week-long visit here. Singapore is also one of the biggest economies in Asean, and a leading financial and trading hub with high digital penetration, he said. In GLDB’s first media interview, Dr Geng said that Asean is China’s largest trading partner, which gives the bank plenty of opportunities to cater to firms doing business in the region. He took the reins in October from Mr Goh Soon Hong, whom the bank announced as its CEO in June and stepped down due to health reasons, said Dr Geng. GLDB has a new chief executive, Mr Melvin Teo, who was previously DBS’ country head for China and Indonesia. These players can serve micro, small and medium-sized enterprises (MSMEs) and non-retail clients.
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