DBS Group Holdings fell for the first time in more than a week in Singapore trading after the Southeast Asia’s biggest bank by assets was cut to “sell” from “buy” at Royal Bank of Scotland Group Plc.
DBS dropped 1.1% to $14.62 at the close, with $107.4 million shares changing hands, the most actively traded stock by value on the Singapore exchange today.
The Singapore-based lender’s earnings may “disappoint” in the short term amid the city-state’s low interbank rate and rising costs, RBS analyst Trevor Kalcic said in a report yesterday
