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

[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.