Singapore bank earnings: Wealth management a common focus, driving stronger Q2 results

Wealth management has become a common focus for Singapore’s banks, with an analyst saying the country’s stability and attractiveness to global capital flows are supporting the sector’s growth. It comes as the three local banks wrapped up a strong earnings season, with UOB and OCBC reporting higher second-quarter profits on Aug 7. Chin Hui Leong, Co-Founder of The Smart Investor, discusses what DBS', UOB's and OCBC's Q2 earnings tell us about how the business model of Singapore banks is changing, and what it means for Singapore as a wealth and investment hub.