- DBS, OCBC and UOB delivered 1Q24 results that exceeded expectations. DBS’s results are significantly above our expectation. DBS and OCBC provide attractive 2025 dividend yields of 6.8% and 6.3% respectively.
- - Read this at SGinvestors.io -
Singapore Banks delivered strong earnings in 1Q24
- Banks delivered strong earnings in 1Q24 (DBS: +15% y-o-y, OCBC: +5% y-o-y) with a pick-up in loan growth, a recovery in wealth management, and a surge in trading income. The good results demonstrate resiliency.
Pick-up in loan growth accompanied by healthy expansion in net interest income.
- - Read this at SGinvestors.io -
- NIM was largely unchanged at 2.14% for DBS, 2.27% for OCBC and 2.02% for UOB. Net interest income grew at single-digit pace of 7% y-o-y for DBS and 4% y-o-y for OCBC.
Wealth management revival.
- Read more at SGinvestors.io.
