Singapore banks' offshore expansion a mixed bag

With Singapore the chair of Asean this year, there'll be more than usual regional news in the local media - in particular on its neighbours' vibrant economies. Alongside a relentless stream of stories on China's Belt and Road Initiative, investors will be constantly reminded of the vast opportunities in Asia.

How have the three local banks fared in tapping the region's rich seams of burgeoning corporates and upwardly mobile consumers and investors?

After all, DBS Group, OCBC Bank and United Overseas Bank are Asean's largest banks and regularly boast of their Asian heritage, local knowledge and network connectivity.

In dollar terms, all three understandably continue posting higher incomes from their home base, with OCBC and UOB goi…