DBS is expected to take the biggest hit at a projected 8 per cent cut to profits and dividends, Citi said. It also cut its earnings and dividend estimates by 4 to 5 per cent for OCBC, and 5 per cent for UOB.
BT FILE PHOTO
THE surprise rate cut by the US Federal Reserve overnight has only added to the skittishness about the strength of economic growth ahead, and with that, banks here have become enveloped in further uncertainty.
As it is, Singapore banks had warned last month of a revenue...