Singapore’s biggest bank DBS Group (DBSM.SI) will be in focus today after reporting a better-than-expected 67% rise in fourth-quarter net profit to $493 million.
The benchmark Straits Times Index (.FTSTI) fell 0.72% to close at 2,744.98 points yesterday. US stocks fell last night, briefly dropping below the 10,000 level, on concerns about escalating sovereign debt problems in Europe and an unexpected rise in US jobless claims.
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DBS (DBSM.SI) said fourth-quarter net profit rose 67% to $493 million, beating forecasts, as strong fee income and higher loans offset a 43% jump in bad-debt charges.
