DBS OCBC 1Q24 Results Preview - UOB Kay Hian 2024-04-16: Softer NIM But Resilient Asset Quality

• Singapore banks are expected to deliver steady 1Q24 net profits of S$2,486m for DBS (-3% y-o-y but +10% q-o-q) and S$1,824m for OCBC (-3% y-o-y but +12% q-o-q) in 1Q24, supported by resilient asset quality.
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• Maintain OVERWEIGHT on Singapore banking sector. Our top picks are DBS followed by OCBC.

SG Banks' 1Q24 Earnings

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DBS Group (SGX:D05)

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Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-04-16 SGinvestors.io

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