• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Singapore Banks' 1Q 2004 Results Show Encouraging Trend May 04 Product Image

Singapore Banks' 1Q 2004 Results Show Encouraging Trend May 04

  • Published: May 2004
  • Region: Singapore
  • Standard & Poors

FEATURED COMPANIES

  • DBS Bank Ltd.
  • United Overseas Bank Ltd.
  • MORE

Abstract
SINGAPORE (Standard & Poor's) May 13, 2004--Standard & Poor's Ratings Services said today the first-quarter 2004 results of the three Singapore bank groups signaled an encouraging trend amid a gradually improving economy. In tandem with the economic pickup and as the banks' rehabilitative measures bear fruit, asset quality has been improving. For the quarter ended March 31, 2004, the average NPA ratio (net) of the three banks--DBS Bank Ltd. (A+/Stable/A-1), Oversea-Chinese Banking Corp. (OCBC Bank; A/Stable/A-1) and United Overseas Bank Ltd. (UOB; A+/Stable/A-1)--continued to improve to 2.2%, compared with 2.6% at the end of fiscal year 2003. With the trend in declining impaired assets, profitability (as measured by return on average assets {ROAA}) is likely to continue benefiting from the...

Companies mentioned in this report are:
- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. READ MORE >

- DBS Bank Ltd.
- United Overseas Bank Ltd.
- Oversea-Chinese Banking Corp. Ltd.

Note: Product cover images may vary from those shown

RELATED PRODUCTS