Market Leader reports that according to the recent statement made by DBS, Singapore’s biggest bank, it’s net profits increased by 15% in Q2 2015. In absolute figures, this is some $800 million.
The mentioned statement says that Singapore’s biggest bank showed the best results relative to the same period last year - April-June 2014. It should be noted that the results were reached amid an economic slowdown in Singapore.
According to DBS representatives, the profit growth became possible mainly thanks to an increase in the net margin, which was equal to 8 basis points. At the same time, the bank increased the dividends from 0.28 SGD per share up to 0.30 SGD per share. It should also be noted that DBS is the holder of the biggest credit portfolio in South-Eastern Asia.
FOREX
Meanwhile, Masterforex-V Academy reports that the Singaporean Dollar is losing a bit of tis value against its American counterpart, which means that USDSGD is rallying. This is happening after a break above a major level of resistance located at 1,3745. At this point, the price is moving close to 1.3648. Masterforex-V Academy experts assume that a break above the mentioned level will give way to further local highs somewhere around 1,3936 (which is the next target) or even higher. At the same time, the bottom of the MF sloping channel as well as pivot 1,3293 are treated as the key levels of support fro now.
