Latest news update: Singapore’s DBS denies Myanmar’s link to outage as services return to normal

DBS Bank, Southeast Asia’s largest bank, said late Wednesday that its online services are back to normal after two days of outage.

The Singapore-based bank said a glitch left many customers unable to log into their accounts. DBS said the unrest began Tuesday morning.

“Since then we have been working around the clock, along with our external engineering service providers, to fix the issue and services were restored at 2 am,” Shi Tse-kun, president of DBS Singapore, told clients in a video address.

However, the problems returned on Wednesday. “The same problem has recurred, and while the situation is less severe than it was yesterday, we know that many of you are still unable to access,” he said.

The bank said late on Wednesday that it had restored the service. “Please be aware that our digital banking services are back to normal,” DBS wrote on social media.

DBS denied speculation in Myanmar that the unrest was somehow linked to the sale of Treasuries there.

“There have been rumors that the disruption of DBS’s digital banking service is linked to the sale of Treasuries by Myanmar’s Government of National Unity,” the bank wrote on Twitter. “There is no truth in this. DBS has not sold any such bonds.”

The timing was indicated by the Myanmar media, noting that the events are linked. The pro-democracy outlet Mizzima reported that “After a lot of NUG bond purchases in Singapore on Monday night, internet banking services for POSB Banks and DBS, the Singapore-based banks, were disrupted.”

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