All of the city state’s top banks – DBS Group Holdings Ltd, United Overseas Bank Ltd and Oversea-Chinese Banking Corp – said they would increase dividends by an average of S$0.15 (RM0.47) per share after second-quarter profit jumped, mainly driven by lower provisions for bad loans.
SINGAPORE: Singapore banks will reward investors with higher payouts from better-than-expected earnings, just a week after the central bank lifted restrictions on dividends, marking a nascent recovery from one of their most turbulent years.
All of the city state’s top banks – DBS Group Holdings Ltd, United Overseas Bank Ltd and Oversea-Chinese Banking Corp – said they would increase dividends by an average of S$0.15 (RM0.47) per share after second-quarter profit jumped, mainly driven by lower provisions for bad loans.
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