ALL three of Singapore’s banks posted double-digit profit growth for the fourth quarter, with DBS Bank and OCBC Bank leading the way as their bottom lines rose 31 per cent each.
For the whole of 2017, OCBC grew net profit by 19 per cent to S$4.1 billion. UOB raised FY17 net profit by 9 per cent to S$3.4 billion, while DBS saw net profit improve 3 per cent to S$4.4 billion.
DBS, celebrating its 50th anniversary, was especially generous with its dividend payouts. Its payout for 2017 represented a dividend yield of 5.18 per cent as at Feb 13, compared to UOB at 3.73 per cent, and OCBC at 2.94 per cent.