DBS OCBC 2Q23 Results Preview - UOB Kay Hian 2023-07-20: Steady & Sturdy

• We forecast 2Q23 net profit of S$2,466m for DBS (+31% y-o-y but -4% q-o-q) and S$1,722m for OCBC (+16% y-o-y but -8% q-o-q).
• - Read this at SGinvestors.io -
• Maintain OVERWEIGHT. Our top picks are OCBC (BUY, target price: S$17.50), followed by DBS (BUY, target price: S$41.50).
• OCBC provides attractive 2023/24 dividend yield of 5.9%/6.3%.

SG Banks 2Q23 Earnings

• - Read this at SGinvestors.io -

DBS (SGX:D05)

• Read more at SGinvestors.io.

Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-07-20 SGinvestors.io

---