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DatabankNovember 22 2022

Singapore’s banks increase profitability but risks loom

Increasing interest rates and debt risk could spell trouble for banks. Barbara Pianese reports.

by Barbara Pianese

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Singapore’s three biggest banks, United Overseas Bank, DBS Bank and Oversea-Chinese Banking Corporation (OCBC), continue to report growth and profitability as they benefit from an environment of higher interest rates.

In October, Singapore’s central bank tightened monetary policy in October for the fifth time in 12 months.

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Barbara Pianese

Barbara Pianese is the Latin America editor at The Banker. She joined from Mergermarket, where she spent four years covering mergers and acquisitions across Europe with a focus on the consumer sector. She holds an MA in International and Diplomatic Affairs from the University of Bologna having studied in Brazil and France as well.

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