SINGAPORE (Aug 2): Singapore banks delivered second-quarter profit that beat analysts’ estimates, indicating they are well placed to weather mounting pressures from a global economic slowdown and falling interest rates.

Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. posted surprise increases in net income for the three months ended June 30, results showed Friday. Larger rival DBS Group Holdings Ltd. earlier this week saw profit climb more than projected.

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

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook