DBS Group Holdings

The proposed merger will transform DBS Bank India into the largest foreign bank by branches and the fifth largest by loans.

DBS Group Holdings has reported net profit of $1.30 billion for 3QFY2020, up 4% q-o-q, as business momentum recovers.

Earlier that morning, UOB reported 40% lower 3Q20 net earnings of $668 million.

Koh Boon Hwee is teaming with four fellow investors to try and raise US$100 million (S$137 million) for a new venture firm.

Singapore banks can expect lower net interest margins (NIMs) ahead though credit costs could ease in 2H2020. The reports come after the three local banks posted broad-based net profit declines for 1H20 last week.

Provisions will stay high across Singapore’s banks as they face net interest margin (NIM) compression and see non-performing loans rise amid low interest rates, say analysts. The reports come as the three banks posted declines in earnings for 2Q2020.

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.

DBS likes US tech stocks and S-REITs

DBS Group Holdings reported record earnings of $2.47 billion, up 20% y-o-y, as total income grew 13% to a new high of $4.03 billion for 1Q2020 ended March.

Say goodbye to savings accounts that barely give you adequate returns on your money, and hello to the ones with the highest interest rates.