Singapore's OCBC bank suffers brief outage, shares gain 1%
SINGAPORE — Southeast Asia's fourth largest bank OCBC suffered a short outage on Monday that affected its digital and card banking channels.
At 9.43 a.m. Singapore time, the bank said in a Facebook post that it was facing «technical problems impacting our banking channels.»
About an hour later at 10.37 a.m., OCBC announced that card and branch services were restored, followed by ATM services.
Shares of the Singapore-headquartered lender gained 1.05% in afternoon trade.
In a statement to CNBC, OCBC sought to assure customers there was no security breach.
«We want to assure them that their monies remained safe and customer data was secured throughout. We are investigating the cause of the technical problem and will provide an update as soon as we can,» an OCBC spokesperson said.
In May, Singapore's largest bank DBS was handed an an additional capital requirement after it suffered two service disruptions in February and March.
The Monetary Authority of Singapore said after the March outage that it was «unacceptable» and the lender had «fallen short of expectations.»
MAS then announced that DBS had to apply a multiplier of 1.8 times to its risk-weighted assets for operational risk, bringing its total additional regulatory capital to approximately 1.6 billion Singapore dollars, or $1.2 billion.
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