Published by
Reuters UK
Reuters UK
By Anshuman Daga SINGAPORE (Reuters) -Singapore lenders DBS Group and OCBC both reported 10% declines in their quarterly profits from record performances a year ago, with their wealth management businesses hit by weaker markets. “Geopolitical developments in recent weeks have created macroeconomic headwinds and financial market volatility,” DBS Chief Executive Piyush Gupta, said in a statement on Friday. “While some activities such as wealth management will be affected, our overall business pipeline continues to be healthy,” he said, adding that DBS would benefit significantly from interest ra…