DBS second quarter results slide on Swiber affair

By Jonathan Breen
08 Aug 2016

DBS Group's profits stumbled during the second quarter of 2016 as the bank had to put provisions aside to deal with potential effects from its exposure to troubled energy services firm Swiber Group.

Total income rose 6% over the first half of the year to S$5.78bn ($4.3bn), but through the second quarter net profit slipped 6% from S$1.12bn a year ago to S$1.05bn, the bank said on Monday.

The second quarter’s total income and profit before allowances were higher than the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial