OCBC beats forecasts on Q1 loan growth surge, UOB roughly in line
Singapore’s Oversea-Chinese Banking Corp beat expectations with an 11 percent rise to record quarterly net profit, as the consolidation of its newly acquired Hong Kong lender Wing Hang Bank helped it post robust loan growth. But smaller rival United Overseas Bank booked a 1.6 percent rise in first-quarter profit, narrowly missing analysts’ forecasts. Despite a […]
DBS Q1 profit up 3 per cent to record $1.27 billion, beating estimates, on strong loan growth
DBS Group Holdings, Southeast Asia’s largest lender, posted first-quarter profit on Monday that beat analysts’ forecasts, helped by a double-digit rise in loan growth and strong wealth management fees. Loans grew by 11 per cent in the first quarter, defying market expectations of a slowdown, due to demand from regional corporate borrowing and secured consumer […]