Banks, STI stocks come out tops as Singapore Q4 corporate earnings rise 24.6%

THE trio of local lenders, as well as the constituent stocks of the Straits Times Index, turned in strong earnings in the fourth quarter of 2022 as the local economy shrugged off worries over high inflation levels and risks of a global recession.

As at Mar 8, 86 companies listed on the Singapore Exchange (SGX) had released their financial results for the quarter ended December last year. Of these, 47 companies reported a profit, and 39 ended the quarter in the red.

These companies reported a total net profit of S$5.9 billion, up 24.6 per cent from the corresponding quarter in 2021, data compiled by The Business Times showed.