SINGAPORE (Aug 19): DBS Group will continue to face downward pressure on its earnings over the coming quarters, says BMI Research.
This stems not only from the recent failure of oil services firm Swiber, which filed for judicial management, but also from the bank's broader exposure to the sector as well as Singapore's weak lending environment, the firm says.
While the two other Singapore banks -- Oversea-Chinese Banking Corp. and United Overseas Bank -- have largely avoided the acute fallout from Swiber, the banks face similar risks as the oil services sector remains under pressure, the Fitch group company adds.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
