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Singapore's DBS hikes payouts as other lenders reel from COVID

Central banks in the city-state and Thailand ease guidance on dividends

Singapore's central bank is allowing United Overseas Bank, DBS and Oversea-Chinese Banking Corp to pay out higher dividends.   © Reuters

SINGAPORE -- Singapore banks this week loosened their purse strings to reward investors on strong second quarter results, showing they are comfortable that the recovery from COVID-19 remains on track despite setbacks across Asia.

DBS Group Holdings, Southeast Asia's largest lender, on Thursday announced interim payouts to shareholders at 33 Singapore cents per share for the quarter, up from 18 cents a year ago.

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