Singapore Banks - Maybank Research 2023-07-18: What To Expect For 2Q23 Earnings?

• UOB (SGX:U11) is set to report 2Q23 on 27 Jul, DBS (SGX:D05) on 03 Aug and OCBC (SGX:O39) on 04 Aug. See earnings calendar.
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Slowing momentum. Cautious guidance.

• While pre-provision operating profit (PPOP) should see positive momentum from better opex management, banks' earnings are set grow negatively q-o-q from higher provisioning. 2Q23 asset quality likely remains benign, but we expect a more cautious tone in Management guidance for 2H23.
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Peaked NIMS, weak loans; Some NoII improvements

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Thilan Wickramasinghe Maybank Research | https://www.maybank-ke.com.sg/ 2023-07-18 SGinvestors.io

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