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Singapore lenders DBS Group and OCBC gave cautious outlooks this week after reporting 10% declines in quarterly profits amid weaker economic growth, though their performances still beat analysts' estimates.
SINGAPORE: DBS Group reported a 37% rise in quarterly profit, supported by an improvement in asset quality at Southeast Asia's largest bank but the result was shy of market estimates.
SINGAPORE (Bloomberg): DBS Group Holdings Ltd agreed to buy Citigroup Inc’s consumer banking assets in Taiwan, as South-east Asia’s largest lender pushes ahead with plans to boost its regional presence.
HONG KONG: Singapore's soon-to-launch online-only banks will find it hard to carve out space in the city-state's market, DBS Chief Executive Piyush Gupta told the Reuters Next conference.
SINGAPORE: DBS Group expects to report higher profit before allowances next year after Southeast Asia's largest bank beat estimates with a 31% rise in third quarter net profit, aided by growth in fee income and improving asset quality.
SINGAPORE: DBS Group Holdings Ltd and Standard Chartered Plc are among the lenders planning to bid for Citigroup Inc consumer banking assets in Asia as the US lender divests units across five markets in the region, according to sources.
HONG KONG: Hong Kong’s central bank asked lenders to report their exposure to debt-laden China Evergrande Group on concerns over potential systemic risks to the region’s financial system, according to people familiar with the matter.