The fortunes of big banks are often tied to a country’s GDP growth, so when Singapore’s growth fell off a cliff in 2QFY2020, it was not surprising that the three local banks reported double-digit y-o-y declines in net profits in 2QFY2020 and 1HFY2020.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe