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The flies in the ointment in Singapore bank results
Ist Teil von
Euromoney, 2019-02
Ort / Verlag
London: Euromoney Institutional Investor PLC
Erscheinungsjahr
2019
Link zum Volltext
Quelle
BSC - Ebsco (Business Source Ultimate)
Beschreibungen/Notizen
[...]the Singaporean banks looked pretty robust in everything except income that relies on other people’s good moods. UOB CEO Wee Ee Cheong said he expects “ongoing global uncertainties to continue to weigh on business sentiment in the near term”; Samuel Tsien, CEO at OCBC, said loan growth would slow in the year ahead, with more volatility to come in Asian markets, and that both trade flows and overall liquidity had reduced; Piyush Gupta at DBS spoke of a synchronized economic slowdown. [...]there is an argument that the best times, in the medium term, are behind them: that the combination of trade tensions, rising global interest rates, volatile asset prices, spooked high net-worth investors and the steady incursion of non-banks into the low-hanging fruit of financial services are going to make it steadily harder for Singapore’s big three to keep growing so consistently.