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Finance

Singapore banks set tone for ASEAN peers in reducing bad debts

Lenders' profits improve as COVID recovery reduces nonperforming loans

Singapore banks buck fears that ASEAN lenders are being flooded by pools of nonperforming loans. (Photo by Shinya Sawai)

SINGAPORE -- Singapore lenders DBS Group Holdings and United Overseas Bank are pushing back bad debts after a difficult, COVID-pressured 2020, setting the tone for their regional peers in recovering from the pandemic's ill effects.

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