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Worsening O&G sector continues to be a drag on DBS' returns

Samantha Chiew
Samantha Chiew11/8/2017 03:20 PM GMT+08  • 2 min read
Worsening O&G sector continues to be a drag on DBS' returns
SINGAPORE (Nov 8): Maybank Kim Eng is maintaining its “hold” call on DBS Group with a higher target price of $22.75.
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SINGAPORE (Nov 8): Maybank Kim Eng is maintaining its “hold” call on DBS Group with a higher target price of $22.75.

This came on the back of DBS’ results announcement on Monday. The group’s 3Q17 earnings dropped 25% to $802 million from a year ago.

This was due to an 87% increase in net allowances to $815 million as residual weak oil and gas support services exposures were classified as non-performing assets (NPAs).

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