Singapore banks top estimates but flag caution in weak markets
Singapore lenders DBS Group (DBSM.SI) and OCBC (OCBC.SI) gave cautious outlooks on Friday after reporting 10% declines in quarterly profits amid weaker economic growth, though their performances still beat analysts’ estimates.
Singapore’s DBS bets on post-pandemic recovery, profit up on lower credit costs
Singapore’s DBS Group Holdings (DBSM.SI) flagged strong loan growth and lower credit costs ahead after a rebound in its mainstay home market fuelled a better-than-expected 37% jump in quarterly net profit for Southeast Asia’s biggest lender.
