Recently, Singapore’s three major banks have announced their 2024 second quarter financial reports. Despite the risks of funding and interest rate cuts, Singapore’s DBS Bank, Oversea Chinese Banking Corporation, and United Overseas Bank performed very strongly, with revenue continuing to increase strongly in the second quarter. Among them, DBS Group increased by 4% year-on-year, reaching S$2.8 billion. Return on equity reached 18.2%, in line with market expectations.
Rising Job Opportunities
According to the Singapore Salary Survey Report released by the job search platform Jobstreet, jobs in the technology and financial fields will become the most popular occupations in Singapore. According to recent job vacancy data released by Singapore’s Ministry of Manpower (MOM), among managers and administrators and professionals, business development managers and software, network and multimedia developers have the highest vacancy ratios.
Job advertisement in the banking industry have increased significantly by 68% post-COVID-19, and salaries have also increased by 10% to 34%, especially for positions below senior management.
Conclusion
In summary, Singapore’s major banks have demonstrated robust performance in the second quarter of 2024, with DBS Group leading the way in revenue growth and return on equity. Concurrently, the job market is thriving, particularly in technology and finance, with notable increases in job advertisements and salaries. These trends highlight a resilient financial sector and a burgeoning demand for skilled professionals in key industries, setting a positive outlook for Singapore’s economic landscape.
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