Local banks' brokerage fees gain 6.4% in Q1

Singapore

COMMISSIONS at the three major local banks' broking units rose 6.4 per cent during the first quarter, with only UOB-Kay Hian Holdings showing a slight decline.

Total brokerage fees reported by DBS Group Holdings, OCBC Bank and United Overseas Bank's UOB-Kay Hian arm came in at S$120.6 million for the three months to March 31, compared to S$113.3 million in the year-ago period.