While Singaporeans started returning to work and school on Tuesday, banks are not rushing to reopen branches that have been closed temporarily during the circuit breaker period.
Bank branches across Singapore saw brisk activity on June 2, the first day of the «Safe Re-Opening» period – the first phase of Singapore's three-phased approach to resuming business operations following the circuit breaker period.
According to «CNA,» there were «snaking queues» at various bank branches located in the heartlands as early as 9 a.m., as they opened for the first time since April, when banks across Singapore temporarily shuttered a large number of branches due to the reduced traffic as a result of enhanced social distancing measures.
Last month, the Monetary Authority of Singapore said it would allow customer service locations of financial institutions, including insurance companies, fund managers, and brokers, to reopen more locations from June 2 to process essential customer transactions, and allow more on-site staff to meet increased customer needs.
Many Branches Still Closed
Many of bank branches, however, remain closed for the time being. Twenty-nine DBS/POSB branches and 23 UOB branches are still closed, with the banks saying they will gradually reopen them as business activities resume. DBS said all its Treasures and Treasures Private Client centers will remain closed during the safe re-opening period as a measure to minimize community spread of Covid-19.
OCBC's 22 temporarily closed branches have not reopened, while Maybank said it plans not to reopen its eight temporarily closed branches during Phase 1.
Twelve of the Standard Chartered's 15 branches have resumed operations, according to a notice on its website. The bank is also resuming limited in-person meetings for clients to meet their relationship managers on an appointment-only basis, but all Priority Banking lounges remain closed until further notice.
More Precautionary Measures
UOB said it has enhanced precautionary measures by applying self-disinfecting coating at high-touch areas, including branch counters and meeting areas, at its branches island-wide. The commercial-grade coating has been used on its ATMs since April.
«As we move into the Safe Re-Opening phase, we wanted to do all we could to create a safe environment for our people and customers and to minimize the potential for the spread of the virus,» Benny Chan, head of channels Singapore, group channels and digitalization, UOB, said in a media release on Tuesday.
