DBS Bank plans to ask more detailed questions about a customer's background and how he got the money he is investing. And it will turn away those who are not suited for a product, even if they insist on buying. -- ST PHOTO: CAROLINE CHIA
SINGAPORE'S largest bank is making big changes to the way it sells investments to customers, as it continues to battle criticism over losses suffered by those who put money into its High Notes 5 product.
DBS Bank plans to ask more detailed questions about a customer's background and how he got the money he is investing. And it will turn away those who are not suited for a product, even if they insist on buying.
'We have learnt something from this and I believe that we will do things differently. Not all of it is going to be popular,' said DBS chairman Koh Boon Hwee in an interview with The Straits Times.
Read Ignatius Low's full story in Wednesday's edition of The Straits Times.
