Big 3 Singapore banks face rising asset risk: Moody's

DBS, OCBC, UOB have posted record net profits, stable asset quality and strong capital for H1 2019 but further improvement in profitability will be difficult as global growth slows

Published Tue, Aug 13, 2019 · 09:50 PM

Singapore

SINGAPORE'S three largest banks by assets - DBS, OCBC and UOB - will face rising asset risk and slowing income growth in 2019 as economic conditions worsen, despite posting record results for the first half-year, Moody's Investors Service said in a report released on Tuesday.

Simon Chen, Moody's vice-president and senior analyst, said: "DBS, OCBC and UOB posted record net profits, stable asset quality and strong capital for H1 2019, but further improvement in profitability will be difficult amid slowing global growth, and the potential for an escalation of the US-China trade conflict.