Singapore's DBS expects record profits to continue on higher-for-longer rates spglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spglobal.com Daily Mail and Mail on Sunday newspapers.
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18 May, 2021 Author Regina Liezl GambeRebecca Isjwara
Singapore s three major banks will continue to face pressure on their margins this year, though they may maintain their earnings momentum as the pace of loan growth may improve with the expected economic recovery, analysts say.
DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. reported unchanged net interest margins in the first quarter of 2021 over the fourth quarter of 2020. However, NIMs, a key measure of banks profitability, were lower than the year-ago period at all three lenders. For example, DBS, the biggest bank in Southeast Asia by assets, reported that its NIM fell to 1.49% in the March quarter, from 1.86% a year ago.