Singapore Banking Monthly - Phillip Securities 2024-04-05: Interest Rates Decline Halted

• The banks had a positive March performance. The DBS share price continued to perform the best, with a 7.4% increase, while OCBC share price and UOB share price improved by 3.8% and 4%, respectively.
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3-month SORA & 3-month HIBOR flat in March

• Singapore interest rates were flat in March, halting the 5bps decline in the previous two months. The 3-month SORA was flat m-o-m at 3.64%. Nonetheless, March’s 3-month SORA rose by 29bps y-o-y but was 2bps lower than the 1Q24 3-month SORA average of 3.66% (4Q23: 3.74%).
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Singapore loan growth declined to the lowest in 15 months

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

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)