trending Market Intelligence /marketintelligence/en/news-insights/trending/lg0VsVm86q1qjJsN4Y6IMg2 content esgSubNav
In This List

Singapore's major banks see YOY net profit growth in Q2

Blog

Banking Essentials Newsletter: October Edition

Blog

Banking Essentials Newsletter: September Edition, Part - 2

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

Video

S&P Capital IQ Pro | Powering Your Edge


Singapore's major banks see YOY net profit growth in Q2

Combined net profit for the second quarter at Singapore's three largest banks rose to S$3.06 billion from S$2.74 billion in the year-ago period.

DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. all reported year-over-year growth in net profit for the three months ended June 30.

Net interest income rose to S$4.59 billion from S$4.30 billion, while net fees and commissions climbed to S$1.65 billion from S$1.52 billion.

Meanwhile, all three lenders saw rises in their nonperforming loan ratios compared to the prior-year period. Bank executives continued to warn of persistent asset quality issues in the companies' exposure to the oil and gas sector, as they expect distress in the sector to continue until oil prices improve.

SNL Image

As of Aug. 9, US$1 was equivalent to S$1.36.

SNL Image

Click here to view SNL's profile of individual Asia-Pacific banks and view key information in tabular and graphical formats for a selected company.
Click here to set real-time alerts for data-driven articles. First, choose a delivery preference, then select Banking under Data Dispatch Asia-Pacific and click apply at the bottom of the page.