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DBS and OCBC latest banks to suffer tough 1Q22 for WM

The wealth management businesses of Singapore lenders DBS and OCBC Bank lost momentum in 1Q22, in what seems to becoming a trend in banking performance in the region amid market uncertainty. DBS on Friday said that 1Q22 wealth management fee income fell 21% YoY to S$408 million, but was up 7% QoQ. In 1Q21, WM fees hit a record high…

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