S’pore banks likely to sustain strong earnings this year but uncertainties prevail: Analysts

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A DBS analyst expects earnings will rally by more than 30 per cent across the banking sector this year.

S'pore banks likely to sustain strong earnings this year but uncertainties prevail: Analysts

Prisca Ang

SINGAPORE – Local banks are likely to keep raking up robust earnings this year but lenders still face uncertainties surrounding the Covid-19 pandemic, analysts told The Straits Times.

DBS, OCBC and UOB all topped market expectations by reporting strong first-quarter net profit, largely driven by broad-based growth with record fee income. This was in line with the earnings of their global peers.

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