- 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.
