SINGAPORE Feb 14 DBS Group Holdings,
Southeast Asia's biggest bank. posted a 6 percent increase in
core quarterly profit, missing expectations as it took higher
provisions for bad debt charges.
Oversea-Chinese Banking Corp, Singapore's
second-biggest bank, beat analysts forecasts by posting an 8
percent rise in quarterly profit helped by strong loan growth.
DBS, Southeast Asia's biggest bank, earned S$802 million
($633.3 million) excluding exceptionals in the three months
ended December, compared to the S$843 million average forecast
of six analysts polled by Reuters.
It earned S$760 million a year earlier. Including one-off
items such as the sale of its stake in a lender in the
Philippines, DBS posted a net profit of S$973 million.
OCBC reported a net profit of S$715 million in the three
months ended December, compared to an average forecast of S$676
million by six analysts. OCBC earned S$663 million in the fourth
quarter of 2012.
Singapore banks are facing a slowdown in mortgages in the
wake of central bank's crackdown on the housing market, which
has fueled strong loan growth for domestic banks since 2010.
($1 = 1.2663 Singapore dollars)
(Reporting by Saeed Azhar; Editing by Matt Driskill and Edwina