DBS Q2 profit drops 6 pct, bad debt charges more than double

August 7, 2016 11:19 PM

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SINGAPORE Aug 8 DBS Group Holdings, Singapore's biggest lender, posted a 6 percent drop in second-quarter profit, hit by a sharp jump in provisions for bad loans as firms in the oil and gas services sector struggle to service debt.

DBS's net profit came in at S$1.05 billion ($780 million) in the three months ended June, versus a S$1.12 billion profit a year earlier.

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