- December’s 3M-SORA was up by 39bps m-o-m to 3.08%. 4Q22 3M-SORA was up 252bps y-o-y.
- Singapore domestic loans grew 0.67% y-o-y in November, below our estimates, while Hong Kong’s domestic loans declined 3.02% y-o-y in November. CASA balance dipped slightly to 20.7%.
- Maintain OVERWEIGHT.
- - Read this at SGinvestors.io -
- SGX is another major beneficiary of higher interest rates.
3M-SOR and 3M-SIBOR continued to climb in December
- - Read this at SGinvestors.io -
- The 4Q22 3M-SORA average of 2.68% was 125bps higher than its 3Q22 average of 1.43% and improved by 252bps y-o-y.
- The 4Q22 3M-SIBOR average of 3.96% was 149bps higher than its 3Q22 average of 2.47% and improved by 352bps y-o-y.
Recovery of treasury income to boost SGX’s earnings
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Glenn Thum Phillip Securities Research | https://www.stocksbnb.com/ 2023-01-13
More reports on banking & finance sector:
Analyst Reports on Singapore Banking & Finance Sector
Read also:
Analyst Reports on DBS Group
Analyst Reports on OCBC Bank
Analyst Reports on United Overseas Bank (UOB)
