The Business Times
business-time-50

DBS, OCBC and UOB brace for tariff fallout despite steady Q1 results

All three banks set aside additional pre-emptive allowances to strengthen their reserves, even as they stressed that asset quality remains stable

Summarise
google-preferred-sourceAdd BT as a preferred source
Renald Yeo

Renald Yeo

Published Tue, May 13, 2025 · 05:00 AM
    • The banks stressed that the greater concern lies not in the direct impact of tariffs, but in the secondary effects.
    • The banks stressed that the greater concern lies not in the direct impact of tariffs, but in the secondary effects. PHOTO: TAY CHU YI, BT

    [SINGAPORE] Uncertainty from US tariffs loomed large as Singapore’s three local banks reported their first-quarter results over the past week.

    The macroeconomic jitters were significant enough for UOB to suspend its earnings guidance for 2025, although DBS and OCBC have kept theirs unchanged for now.

    All three banks also set aside additional pre-emptive allowances to strengthen their reserves, even as they stressed that asset quality remains stable.

    DBSOCBCUOBFinancial resultsSingapore banksTrump tariffs

    TRENDING NOW

    The eligible projects include Sun Group’s developments linked to the Asia-Pacific Economic Cooperation summit in Phu Quoc in 2027.

    Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects

    Recent cuts at e-commerce platforms such as Shopee is signalling shifting business priorities.

    E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement

    Koh Boon Hwee says humans have accepted that robots can take over the most repetitive, manual tasks, but are nervous about AI, which can also think.

    With AI, it’s not about coding better; workers need to think better: Koh Boon Hwee

    Dunearn House is within walking distance to Sixth Avenue MRT station and the upcoming Turf City MRT station.

    Frasers Property launches Dunearn House condo with prices from S$2,799 psf

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More