net interest margin (NIM)

UOB reported a 1QFY2024 core net profit of $1.6 billion, up 5% q-o-q but down 1% y-o-y.

DBS has raised its dividend to 54 cents and also announced a 1-for-10 bonus.

CGS-CIMB remains “overweight” on the sector while DBS expects the sector to see “higher absolute dividends” for FY2022.

The three-month Singapore interbank offer rate (3M-SIBOR) and three-month swap offer rate (3M-SOR) have fallen to their respective seven-year lows, the brokerage notes.

Wickramasinghe says that although Singapore may likely witness one of its strongest contractions in the region, this may not translate directly to its banking system.

(Oct 26): United Overseas Bank fell the most in almost five months after a key gauge of loan profitability fell, overshadowing higher third-quarter net income at the Singaporean lender.

SINGAPORE (Aug 7): RHB Research is maintaining its “overweight” stance on Singapore’s banking sector with “buy” ratings for both United Overseas Bank (UOB) and DBS at target prices of $33.30 and $30.30, respectively.

SINGAPORE (Oct 10): UOB Kay Hian is keeping its “buy” call on Oversea-Chinese Banking Corporation (OCBC) with a target price of $13.38 given expectations the bank could report steady earnings growth for the third quarter of 2017.

SINGAPORE (Aug 23): Deutsche Bank says DBS Group Holdings remains its top pick within the Singapore banks sector, even after recently downgrading the stock to “hold” based on valuations following the bank’s recent run-up in share price post 2Q17 res

SINGAPORE (Aug 10): UOB Kay Hian is maintaining “overweight” on Singapore’s banking sector with DBS and Oversea-Chinese Banking Corporation (OCBC) as its top “buy” picks with target price estimates of $24.85 and $13.38 respectively.