Both UOB and DBS had beaten the Street’s estimates for net profit on better non-interest income measures.
When DBS Group Holdings (DBS) reported its results for 1QFY2024 ended March 31 on May 2, the market cheered the results by sending the share prices of all three local banks higher.
In contrast, when United Overseas Bank (SGX:U11
) (UOB) announced its results for the same quarter on May 8, the share prices of the three banks fell sharply on May 8.
