Less stellar Q3 seen for DBS, UOB

AHEAD of the release of third-quarter financial results, analysts are expecting the earnings of DBS Group Holdings and United Overseas Bank (UOB) to have moderated from a stellar second quarter on slower loan growth, softer capital market and weak wealth management fees.

For Oversea-Chinese Banking Corporation (OCBC), its July-September performance, on a quarter-on-quarter basis, is expected to receive a boost from the absence of unrealised mark- to-market losses from its Great Eastern insurance unit, BNP Paribas analyst Frank Yuen wrote in a note.

DBS, OCBC and UOB are expected to post net profits of $839 million, $648 million and $703 million respectively for the quarter ended September, surveys done by Bloomberg show.