DBS writes off S$1bn

30 July 2010 | 1 minute read

DBS Bank today (July 30) issued its second quarter results, reporting a loss of S$300m (US$220m). That figure encompassed a one-time goodwill impairment charge of S$1.02bn was taken for DBS Bank (Hong Kong) that reflected “heightened deposit competition”. Taking out the impairment charge, DBS announced group net earnings of S$718m, a 30% rise yoy. The bank performed well in its wealth…

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