DBS the only ‘buy’ ahead of Singapore banks’ 3Q results: Deutsche

SINGAPORE (Oct 26): Deutsche Bank Markets Research says it expects “little change” in the fortunes of Singapore banks in their upcoming 3Q16 earnings announcements on the back of slowing revenue momentum.

“We expect Singapore banks to report moderate 3Q16 results, with revenue likely to continue softening, coupled with rising commodity-related provisions,” say Deutsche Bank analysts Franco Lam and Sukrit Khatri in a Tuesday report.

Earnings for the Singapore banks sector is expected to fall 2% q-o-q on continued weakness in Singapore Interbank Offered Rate (Sibor) and Swap Offer Rate (SOR).

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