Shares of Singapore's top banks jump ahead of third-quarter earnings release
"As in the previous quarter, we expect all banks to report robust earnings growth on lower credit costs," said David Lum, an analyst with brokerage Daiwa Capital Markets.Like many banks globally, the Singapore lenders made those provisions last year when Covid weighed down economic activity — but the banks started winding down the provisions this year as the global economy bounced back.
Lum said in an October report that wealth management could do well for the Singapore banks, but trading and market-related income might come under pressure in the third quarter.In addition to earnings, the exposure to Greater China for Singapore banks would also come under the spotlight following the financial troubles at Chinese property developer
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