DBS Group Holdings has reported earnings of $2.41 billion for 1H2020, falling 26% y-o-y with an increase in general allowance owing to risks from the Covid-19 pandemic, in results released August 6.

For 2Q2020, the bank registered earnings of $1.25 billion, which is 22% lower than the $1.60 billion posted a year ago.

In line with calls made by the Monetary Authority of Singapore, the bank has lowered its dividend for the quarter to 18 cents from 33 cents last quarter. In addition, a scrip dividend scheme will be applied. 

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