Dark clouds ahead for Singapore banks after robust Q3 earnings

Singapore

THERE are bubbling risks on the horizon for the three Singapore banks, which just capped their results session for the third quarter that was driven mainly by stronger non-interest income from the wealth management business as well as fees.

Analysts flag that profitability will trend lower for the trio as central banks cut rates, and asset quality sours on a hodgepodge of concerns: the US-China trade war, unrest in Hong Kong, and the continued malaise in the oil-and-gas segment.