With no nasty surprises from the banks, the STI is steady as it goes

There were no nasty surprises in the local banks’ 1QFY2025 ended March 31 results. DBS Group Holdings and Oversea-Chinese Banking Corporation (OCBC) reported first-quarter net profits marginally above the Street’s estimates — that is, they were more or less in-line; United Overseas Bank (SGX:U11) ’s 1QFY2025 net profit was marginally below the Street’s expectations.

Among them, DBS’s trading income stood out with something of a surge although all three reported gains. All three pre-emptively increased their general provisions, and reiterated their respective ordinary dividends payouts and capital returns.