Banks represent the pillar of the economy. They also often form the bedrock of many stock indices, and the Straits Times Index (SGX: ^STI) is no exception. Our local banks DBS Group Holdings Ltd (SGX: D05), United Overseas Bank Ltd (SGX: U11) and OCBC Ltd (SGX: O39) together make up close to 37% of the local index. Because of this, their business performance will have an outsized effect on the direction of the overall index. The COVID-19 pandemic has impacted all three banks as revenue and net profit have tumbled. As businesses come under stress, the banks have had to increase their provisions for bad loans, which in turn have cut into profits. An important question investors may have is: have banks’ earnings bottomed? Can they start to see a nascent recovery next year? As all three banks have announced their business updates and earnings reports for the third quarter of 2020, we are doing a quick round-up to review how they are faring....