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Local banks show their resilience

They post better-than-expected profits in Q3 despite deteriorating economy and sharply higher bad loan provisions

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Published Mon, Oct 31, 2016 · 09:50 PM

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    Financial snapshot

    Singapore

    THE third-quarter results of the three local banks showed some things in common - they continued to defy predictions by posting better-than-expected profits despite sharply higher bad loan provisions.

    And amid slower economic growth, loans didn't shrink all that much; in fact it was up at DBS and United Overseas Bank (UOB) and saw a mild contraction at OCBC.

    DBSUOBOCBC

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