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Profit at Singapore banks probably fell for a second straight quarter as they continued to boost provisions during the coronavirus crisis.
DBS and United Overseas Bank will report their second-quarter earnings on Aug. 6, followed by Oversea-Chinese Banking Corp. the next day.
Among the three, UOB might see the biggest decline in earnings. DBS&rsquo s net income may have declined 26% to S$1.19 billion ($865 million) in the three months ended June 30, according to the average estimate of 8 analysts surveyed
OCBC&rsquo s profit estimated at S$930 million, a 24% drop and UOB&rsquo s profit seen falling 33% to S$784 million.
I am currently bearish on UOB. The huge provision and reduction in dividends could push the stock lower. Do you think UOB give the market another shock in coming days?
DBS and United Overseas Bank will report their second-quarter earnings on Aug. 6, followed by Oversea-Chinese Banking Corp. the next day.
Among the three, UOB might see the biggest decline in earnings. DBS&rsquo s net income may have declined 26% to S$1.19 billion ($865 million) in the three months ended June 30, according to the average estimate of 8 analysts surveyed
OCBC&rsquo s profit estimated at S$930 million, a 24% drop and UOB&rsquo s profit seen falling 33% to S$784 million.
I am currently bearish on UOB. The huge provision and reduction in dividends could push the stock lower. Do you think UOB give the market another shock in coming days?