Singapore's DBS Group Holdings, Southeast Asia biggest bank, and United Overseas Bank (UOB) are among the banks set to report their lowest quarterly profits in two years, as historically low oil prices and bad loans in the struggling oil sector continue to cause stress. DBS is expected to report SGD436m ($307m) in soured loans, as well as a dip in profits of 6.6%, to SGD936m. Profits at UOB are set to hit a three-year low of SGD730m, and the forthcoming lenders' report is expected to focus on Q4 and the outlook for 2017.
Singapore's DBS Group Holdings, Southeast Asia's biggest bank, and United Overseas Bank (UOB) are among the banks set to report their lowest quarterly profits in two years, as historically low oil prices and bad loans in the struggling oil sector continue to cause stress. DBS is expected to report SGD436m ($307m) in soured loans, as well as a dip in profits of 6.6%, to SGD936m. Profits at UOB are set to hit a three-year low of SGD730m, and the forthcoming lenders' report is expected to focus on Q4 and the outlook for 2017.