The dollar slipped following a media report that suggested a delay in the implementation of a major corporate tax cut.
DBS Group Holdings unexpectedly set aside 815 million Singapore dollars to cover for bad loans from the troubled oil and gas sector.
Asian shares closed narrowly mixed in Thursday trade following the softer lead from Wall Street.
All three Singapore banks beat or generally met earnings expectations, but shares took a hit on weakness in the oil and gas sector.
DBS Group Holdings, Singapore's biggest lender, reported an 8.5 percent increase in quarterly profit that came in line with market expectations.
Asian indexes closed mostly lower on Friday as investors parsed through corporate earnings in the region.
Asia markets closed higher on Thursday as corporates in the region announced earnings and markets digested the Fed's post-meeting statement.
Banking stocks in Singapore, one of the world's top financial hubs, rallied on Thursday after OCBC reported quarterly earnings that handily beat estimates.
The increase in home buying activity in Singapore has boosted demand for loans, which may be a key earnings driver for the country's three banks this year.
It may look like ANZ has been downsizing Asia operations with its recent asset sales, but the CEO said it's merely "tweaking our strategy."
Moody’s raised the outlook for Singapore banks to stable from negative on Wednesday, citing stabilizing commodity prices and improving growth conditions.
Parwati Surjaudaja, Bank OCBC NISP, says the bank's decision was driven by more than just the Indonesian government's tax amnesty program.
Singapore's second largest lender by assets OCBC said Monday its Indonesian subsidiary will start a private banking unit.
Most Asian indexes closed higher on Thursday, following a mixed close stateside.
OCBC announced Thursday it is buying NAB's private wealth business in Singapore and Hong Kong – the latest sign of consolidation in Asia's wealth industry.
Markets in Asia were subdued in Tuesday trade, with investors focused on the South Korean election and Australian federal budget.
Singapore's second-largest listed lender said first quarter earnings were aided by wealth management and insurance.
Asian markets were mixed on Wednesday, as Wall Street's rise was offset by disappointment with Apple earnings, as traders eyed the Fed.
Asia markets closed mixed as traders parsed the RBA decision's to hold steady, key bank earnings in Australia and Singapore, and the dollar.
Singapore's top lender, DBS Group Holdings reported first quarter earnings.