Iggy's Journal: DBS Down 5%, UOB Up 182%: Same Quarter, Opposite HeadlinesFri 6 Nov 2026 | MiddayThe NumbersUOB's quarte…
Iggy's Journal: DBS Down 5%, UOB Up 182%: Same Quarter, Opposite Headlines
Fri 6 Nov 2026 | Midday
The Numbers
UOB's quarter is up 182%, while DBS's quarter is down 5%. UOB's prior-year quarter carried S$1.361 billion in credit provisions, against S$258 million this quarter. DBS's nine-month profit rose 2% to S$8.82 billion, which it calls a record. DBS's commercial-book income was a record S$5.69 billion, up 4%, while markets trading income fell 65% to S$152 million. $DBS(D05.SG) $UOB(U11.SG)
My Personal Take
Two banks reported the same quarter and the headlines point in opposite directions, and a percentage on its own does not tell me which window it is measuring. That leaves me with two questions. What is each headline measuring, and which lines in each quarter are the ones that repeat? I am not reading a verdict into any of the bank shares yet. The full deep dive on the banks is still to come, and I will wait for it. The episode puts each headline against what sat inside the quarter.
📺 YouTube: https://youtu.be/6T808_ZBjWk
Cheers,
Iggy 🦖
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