OCBC, DBS, UOB report earnings amid market sell-off

CNA4 hours ago11:51

OCBC's third-quarter net profit has beat expectations, coming in at S$2.04 billion. It is the only one of Singapore’s big three banks to meet analysts' expectations, thanks to record earnings from its banking business. DBS and UOB both fell short, with weaker trading and investment income weighing on results. The three banks are facing selling pressure, amid a wider market sell-off. But how much of this is linked to developments globally, like in the US? Should Singaporeans who own bank shares be worried? CNA speaks to Tan Kee Wee, Partner at Waveney Economics.

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