- 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 an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ 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)
