- Singapore banks completed their 4Q22 reporting last week. See DBS's announcement dated 13 Feb 2023, UOB's announcement dated 23 Feb 2023, OCBC's announcement dated 24 Feb 2023.
- - Read this at SGinvestors.io -
- On the other hand, loan growth disappointed with opportunistic repayments taking place in 4Q22, which was not unexpected in view of rising rates.
FY23 outlook still fairly constructive, although macro risks have risen
Mid-single digit loan growth guidance for FY23, growth pace to be monitored this year:
- - Read this at SGinvestors.io -
- Mortgages may moderate in 1H23 on fewer new property loan bookings. As highlighted in our sector report following the Singapore budget, between the two banks, UOB is relatively more exposed to Singapore mortgages and SMEs.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2023-02-28
More reports on banking & finance sector:
Analyst Reports on Singapore Banking & Finance SectorRead also:
Analyst Reports on DBS Group
Analyst Reports on OCBC Bank
Analyst Reports on United Overseas Bank (UOB)
