SINGAPORE, July 30 (Reuters) - DBS Group (DBSM.SI), Southeast Asia's biggest bank, posted a surprise quarterly loss, its first in almost five years, after it took a S$1.02 billion ($748.9 million) goodwill charge for its Hong Kong business.But excluding the one-time charge, core earnings rose 30 percent, beating market expectations, and the bank said its outlook remained healthy.
Analysts said there may be more room for writedowns on its Hong Kong business, which is a legacy from 2001 when DBS tookover Dao Heng bank in an expensive $5.8 billion deal. Full Story
Related:
DBS Has Surprise Quarterly Loss on Goodwill Charge - BusinessWeek
DBS Q2 earnings hit by impairment charge - MSN Philippines News
Singapore's DBS bank reports surprise second-quarter loss - Earth Times
DBS CEO says further writedowns for HK unit unlikely - Reuters
DBS Posts Surprise Second-Quarter Loss on $747 Million Impairment Charge - Bloomberg.com
