Shares of S’pore’s three banks hit record highs after another quarter of strong profits

Quick Summary:

The banks also discussed options to return excess capital to shareholders.

OCBC is basing its plans on expectations of further rate cuts, forecasting two to three rate cuts this year, and five in 2025.

DBS’ third quarter net profit rose 17 per cent to $3.03 billion, from S$2.59 billion the year before, while UOB’s net profit for the period jumped 16 per cent to a record $1.61 billion from $1.38 billion a year earlier.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Rate Higher Billion Excess Year Cuts Interest Rates Capital Cent Ocbc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 22:59:04 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 796 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23471063

View Article Analysis

About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 15 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 37 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

Publisher Details

Frequently Asked Questions