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Singapore banks post quarterly profit rises, sound upbeat

Published on Feb 14, 2014 9:31 AM

SINGAPORE (Reuters) - Singapore's DBS Group Holdings and Oversea-Chinese Banking Corp posted increases in quarterly profit fuelled by mortgage and trade loans, and were upbeat about growth prospects.

DBS missed expectations but boosted its full-year dividend to 58 cents from 56 cents a year earlier. It said in presentation notes that its outlook is positive and it also sees a strong performance from capital markets.

OCBC's quarterly profit came in ahead of the market consensus.

"Looking ahead, our overall outlook remains optimistic, given the positive macroeconomic environment and the underlying growth prospects in our key markets," OCBC chief executive Samuel Tsien said in a statement.

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