Singapore banks well placed to gain from economic rebound, rising rates

SINGAPORE – On Friday (Nov 5), DBS Bank was the latest of the three local banks to report robust quarterly profit.

South-east Asia’s largest lender reported quarterly net profit of $1.7 billion for the July to September period, up from $1.3 billion during the same period a year earlier, and beating Refinitiv analysts’ estimate of $1.57 billion.