Singapore banks' Q2 financial results say the worst could finally be over

DBS, OCBC and UOB met earnings expectations in Q2.

According to CNBC, the latest report cards from Singapore three home-grown lenders reinforced expectations that the banking sector in one of the world's primary financial centers has seen its worst.

"Loan growth was strong, wealth management income expanded and fewer new bad loans were identified, results showed. Yet, shares of all three banks were in the red on Friday after Southeast Asia's largest lender, DBS Group Holdings, rounded up the sector's earnings season with a warning that asset quality could deteriorate in the coming quarters due to continued weakness in the oil and gas segment," CNBC said.

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