DBS Group Holdings

The bourse operator was a beneficiary of the volatility observed in financial markets last year.

This is Genting Singapore's first time in the index, while DBS tops the list of Asean companies in the index.

“Investors are positioning ahead of the expected normality to pre-Covid-19 economic conditions," says PhillipCapital.

STI consolidates as DBS loses upward momentum, with a resumption in the rally likely towards the end of the year

On the same day, CEO Gupta said his plan to merge DBS's India unit with Lakshmi Vilas Bank won't impact DBS's dividend payment.

The proposed merger will transform DBS Bank India into the largest foreign bank by branches and the fifth largest by loans.

DBS Group Holdings has reported net profit of $1.30 billion for 3QFY2020, up 4% q-o-q, as business momentum recovers.

Earlier that morning, UOB reported 40% lower 3Q20 net earnings of $668 million.

Koh Boon Hwee is teaming with four fellow investors to try and raise US$100 million (S$137 million) for a new venture firm.

Singapore banks can expect lower net interest margins (NIMs) ahead though credit costs could ease in 2H2020. The reports come after the three local banks posted broad-based net profit declines for 1H20 last week.