Economics

The Worst May Be Over for Singapore's Top Banks

Income seen rising at least 19% on interest and wealth mgmt
DBS to report 4Q results Feb. 8; OCBC and UOB on Feb. 14

Signage is displayed at a DBS Group Holdings Ltd. branch in the central business district of Singapore, on Friday, Feb. 10, 2017. DBS is scheduled to release earnings results on Feb. 14.Photographer: Nicky Loh/Bloomberg

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By Chanyaporn Chanjaroen

February 4, 2018 at 8:30 PM UTC

This article is for subscribers only.

The worst may be over for Singapore’s three biggest banks.

A stronger economy, higher interest rates and rising wealth is expected to boost income at DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. After several quarters hit by bad loans, a Bloomberg survey shows they’re poised to post double-digit profit growth for the three months ended Dec. 31. -- the first time all three will do so since 2014.