Iggy’s Journal: DBS’s Profit Fell 5% to S$2.81 Billion and Missed Forecasts. UOB Missed Too, for a Different Reason Thu …

Iggy’s Journal: DBS’s Profit Fell 5% to S$2.81 Billion and Missed Forecasts. UOB Missed Too, for a Different Reason

Thu 5 Nov 2026 | Morning

The Numbers

The STI closed on Wednesday 4 November at 5,268.63, down 0.66 points or 0.01%, after trading between 5,192.31 and 5,276.09. The Business Times reported that gainers outnumbered decliners 392 to 198, with bank weakness offset by REIT and industrial gains. The US session came after SGX had closed. The Dow rose 1,569.40 points or 3.03% to 53,356.12, the S&P 500 rose 119.70 or 1.58% to 7,688.62 and the Nasdaq rose 364.50 or 1.44% to 25,736.51. The Motley Fool attributed the rally to fading election uncertainty after the US midterms and lower oil prices. Business Times headlines: DBS’s third-quarter profit fell 5% to S$2.81 billion on weaker trading income and missed forecasts; Peter Seah will retire as DBS chairman after 16 years, with Anthony Lim to succeed him; Centurion Accommodation REIT’s nine-month net property income of S$117.7 million beat forecast by 4.8%.  $DBS(D05.SG)  

My Personal Take

Two banks have reported in two days, and the Business Times headlines say both missed forecasts. The reasons differ on paper. UOB’s profit fell 15% from the prior quarter because the earlier quarter’s divestment gains were absent, and the DBS headline points to weaker trading income. One word, “missed”, covers two different lines. The one I want to compare next is net interest margin, to see whether it moved the same way at both banks.

Cheers,

Iggy 🦖

Not financial advice. Iggy’s Forensic Compliance Standards apply.