- Singapore banks delivered resilient earnings in 3Q23 (DBS: +16% y-o-y, OCBC: +21% y-o-y) with NIM expansion y-o-y, enhanced cost discipline and benign asset quality. Geopolitical uncertainties have increased. The banks can better weather the volatilities due to strong capital adequacy and stable asset quality.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Singapore Banks' 3Q23 earnings summary
- DBS Group (SGX:D05)’ and OCBC Bank (SGX:O39)’s 3Q23 results were slightly above our expectations. Assuming that consensus estimate of S$1,483m excluded one-off expenses of S$97m for Citi integration cost, UOB (SGX:U11) would have performed in line with expectations.
DBS and OCBC outperform in NIM expansion.
- 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/ 2023-11-14
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)
