Coronavirus pandemic will likely end the strong profit growth in Singapore banks

Coronavirus pandemic will likely end the strong profit growth in Singapore banks

After a strong run last year, the profitability of Singapore banks is expected to fall sharply in 2020. That’s due to the coronavirus pandemic, as well as a crash in oil prices that brought down some of the major energy traders in the Asian financial center.

A glimpse of that earnings hit could come this week as DBS Group Holdings, the largest bank in Singapore and Southeast Asia, is scheduled…

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