Singapore Banks - More Confident On FY23 Outlook
DBS GROUP HOLDINGS LTD (SGX:D05)
OVERSEA-CHINESE BANKING CORP (SGX:O39)
UNITED OVERSEAS BANK LTD (SGX:U11)
- The 3 listed Singapore banks – DBS (SGX:D05), OCBC (SGX:O39) and UOB (SGX:U11) closed 2022 with net profit reaching new highs. Initial assessment of a very challenging 2023 is beginning to give way to a more sanguine view.
- Read this at SGinvestors.io -
- Stay OVERWEIGHT, Top Picks: DBS and OCBC.
Expect mid-single digit loan growth in 2023.
- Read this at SGinvestors.io -
- In FY22, sector loan growth was a muted 1.9% y-o-y.
- See DBS's announcement dated 13 Feb 2023, UOB's announcement dated 23 Feb 2023, OCBC's announcement dated 24 Feb 2023.
NIM to expand 20-35bps in 2023.
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2023-03-08
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)
