- We forecast net profit of S$2,446m for DBS (+36% y-o-y but +4% q-o-q) and net profit of S$1,706m for OCBC (+26% y-o-y and +31% q-o-q) in 1Q23. DBS’s and OCBC’s net interest income grew by a massive 54% and 57% y-o-y respectively but the pace of NIM expansion has started to moderate and plateau. Asset quality remains benign.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Singapore Banks' 1Q23 earnings release
- UOB (SGX:U11) will be announcing its 1Q23 results on 27 April, followed by DBS (SGX:D05) on 2 May and OCBC (SGX:O39) on 10 May 2023.
DBS (SGX:D05) – BUY; Target price S$41.80.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-04-17
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)
