Singapore's DBS second-quarter profit beats estimates as business picks up

SINGAPORE - Singapore's DBS Group Holdings reported a 22% fall in second-quarter net profit on Thursday after shoring up loan loss allowances in a pandemic-hit market, but its profit came just above market estimates and rose from the preceding quarter.

Smaller rival United Overseas Bank however missed analysts' estimates with a 40% fall in quarterly profit due to lower margins and higher credit costs. DBS said profit for the June quarter fell to S$1.25 billion from S$1.6 billion a year earlier, and versus an average estimate of S$1.19 billion from five analysts, according to Refinitiv data.

"DBS did better with help on treasury income and surprisingly was again able to contain costs like Q1," said Kevin Kwek, a senior analyst at Sanford C. Bernstein.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Stocks to watch: DBS, UOB, Wilmar, Sembcorp, Sembmarine, SingtelTHE following companies saw new developments that may affect trading of their securities on Thursday: Read more at The Business Times.
แหล่ง: BusinessTimes - 🏆 15. / 51 อ่านเพิ่มเติม »

DBS Q2 profit beats estimates as business picks upSINGAPORE: DBS Group reported a 22 per cent fall in second-quarter net profit on Thursday (Aug 6) after shoring up loan loss allowances in a ...
แหล่ง: ChannelNewsAsia - 🏆 6. / 66 อ่านเพิ่มเติม »