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Almost in sync, all three Singapore banks report y-o-y earnings drop of 10% for 1QFY2022

The Edge Singapore
The Edge Singapore4/29/2022 08:07 AM GMT+08  • 1 min read
Almost in sync, all three Singapore banks report y-o-y earnings drop of 10% for 1QFY2022
All three Singapore banks have reported a 10% y-o-y drop for their 1Q earnings / Samuel Isaac Chua
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Almost in perfect sync, all three Singapore banks reported y-o-y earnings drop of 10% for their 1QFY2022 this morning.

DBS Group Holdings, the largest, recorded earnings of $1.8 billion, versus $2 billion reported for 1QFY2021. Revenue in the same period was down 3% y-o-y to $3.7 billion.

Oversea-Chinese Banking Corp has reported a 10% y-o-y dip in earnings for its 1QFY2022, on the back of a 9% dip in revenue in the same period, no thanks to softer fee income.

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