Singapore’s banking trio logged declines in net profits for the first quarter. But their loans and net interest income rose, offering hopes of increasing profitability in the coming quarters.
SHARES of the 3 local banks saw active trading on Friday (Apr 29) morning after they all announced a 10 per cent drop in their net profit for the first quarter ended Mar 31, 2022.
OCBC reported S$1.36 billion in net profit for the quarter to March, 10 per cent lower than the record earnings of S$1.5 billion a year ago, as the local bank's wealth management fees, trading income and life insurance profit slipped.
OCBC chief executive has flagged a volatile investing environment as a headwind, and expects customers to be “not as active as last year”. This comes as the bank reported a 10 per cent dip in quarterly earnings, partly due to lower wealth management fees and trading income.
OCBC chief executive Helen Wong has flagged a volatile investing environment as a headwind, and expects customers to be “not as active as last year”. This comes as the bank reported a 10 per cent dip in quarterly earnings, partly due to lower wealth management fees and trading...
SINGAPORE’S largest bank DBS reported a net profit of S$1.8 billion for the first quarter ended Mar 31, 2022, down 10 per cent from the record S$2.1 billion posted a year ago.
SINGAPORE’S largest bank DBS reported a net profit of S$1.8 billion for the first quarter ended Mar 31, 2022, down 10 per cent from the record S$2.1 billion posted a year ago.
SINGAPORE’S largest bank DBS reported a net profit of S$1.8 billion for the first quarter ended Mar 31, 2022, down 10 per cent from the record S$2.1 billion posted a year ago.
UOB's Q1 net profit may have fallen in the first quarter amid lower trading and investment income but the bank believes improvements will be seen in the coming quarters.
