Singapore — a tiny Southeast Asian country — and Hong Kong are often seen as competitors for the role of Asia's premier financial center.
. Net profit for the second quarter jumped 17% from a year ago to 1.6 billion Singapore dollars , helped by rising interest rates in Singapore and Hong Kong.expected to cut rates this week, Gupta said the bank's net interest margin — a measure of lending profitability — is expected to inch slightly lower in the coming months.
Singapore and Hong Kong are DBS' two largest markets. Interest rates in both are influenced by developments around the world, rather than domestic monetary policies that are set based on the respective local currency's exchange rate. So, the trajectory of interest rates in the U.S. is an important influence on rates in the two Asian financial centers.
"I think margins have peaked," said the CEO. "If the Fed starts cutting, overall margins should reduce."
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Latest: Hong Kong police fire tear gas at protestersHONG KONG (AP) — The Latest on protests in Hong Kong (all times local): 5:45 p.m. Hong Kong police have fired tear gas at protesters who defied police warnings not to march in a...
Read more »
The Latest: Hong Kong police fire tear gas at protestersHONG KONG (AP) — The Latest on protests in Hong Kong (all times local): 7:40 p.m. Police in Hong Kong have fired tear gas at protesters for the second night in a row.
Read more »
Parts of Hong Kong Paralyzed by Protests After Clashes With PoliceHuge demonstrations fueled by anger over the police’s reaction to protests over a controversial extradition bill sparked violent skirmishes on Saturday, with thousands more marching again on Sunday after police fired tear gas and projectiles Saturday evening..
Read more »
Riot police fire tear gas at protesters for second consecutive dayHong Kong is protesting for the eighth weekend running, with escalating violence. Follow here for the latest.
Read more »
Police fire tear gas at Hong Kong protesters as violence escalates'Police no longer fear using excessive force,' protester Jason Lo told NBC News. 'This is unacceptable. As long as I can come out, I will continue.'
Read more »
Hong Kong Police Fire Tear Gas at Protesters in Residential Area(Bloomberg) -- Hong Kong demonstrators and police clashed for a second straight day as the city’s China-backed government struggles to quell growing discontent and amid violent clashes that have marred the historic movement in recent weeks.Riot police fired volleys of tear gas at hundreds of black-shirted
Read more »