Singapore banks DBS, OCBC post 10% falls in Q1 profits

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Net profit at DBS, Southeast Asia’s biggest bank, fell to S$1.8 billion ($1.30 billion) in January-March from a record S$2 billion a year earlier but came in above an average estimate of S$1.63 billion from six analysts, according to Refinitiv data.

Second-ranked OCBC posted a quarterly profit of S$1.36 billion, down from S$1.5 billion a year earlier, but this also came above an average estimate of S$1.2 billion from six analysts, according to Refinitiv data.

($1 = 1.3868 Singapore dollars)