DBS 2Q Net Income Misses Estimates

DBZ, the largest bank in Southeast Asia, reported a net income of 1.13 billion Singapore dollars for the second quarter, falling short of the 1.16 billion estimate. Unlike other Singapore banks, DBZ's allowances for credit and other losses were 304 million. The bank traditionally gives out $0.30 per share in dividends. DBZ is focusing on expanding its wealth and loans business in Asia, having acquired ANZ Retail banking and wealth units. It aims to grow in Indonesia and Taiwan to counterbalance slow growth in Singapore. The bank faces risks from bad loans in the oil and gas sector, though its CEO sees stabilization. OCBC's chief, however, notes no visible recovery in this sector.

What was DBZ's reported net income for the second quarter?

• 1.13 billion sing dollars

• 1.20 billion sing dollars

• 1.16 billion sing dollars

• 1.10 billion sing dollars

Which bank is the largest in Southeast Asia?

• UOB

• OCBC

• HSBC

• DBZ

What recent acquisition did DBZ complete to expand its business?

• UOB Corporate banking

• ANZ Retail banking and wealth units

• HSBC Retail banking

• OCBC Wealth management

In which countries is DBZ hoping to expand its business?

• Vietnam and Philippines

• Malaysia and Thailand

• Indonesia and Taiwan

• Japan and South Korea

What industry poses a risk to local lenders due to bad loans?

• Retail

• Oil and Gas

• Technology

• Real Estate