DBS OCBC 3Q24 Earnings Preview - UOB Kay Hian 2024-10-17: Healthy Growth From Wealth Management, Trading Income & Strengthening Regional Currencies

• OCBC benefits from the appreciation of MYR (+8.2%), while DBS is affected by the depreciation of US$ (-5.2%) and HKD (-4.8%). OCBC should record stronger loan growth of +2.0% y-o-y than DBS’ +0.2% y-o-y in 3Q24. We see a slight erosion in NIM q-o-q, offset by resilient growth from wealth and trading income.
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3Q24 Earnings Release Dates

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We forecast DBS’ net profit to grow 5% y-o-y but recede 3% q-o-q to S$2,713m in 3Q24.

Weakness in US$ and HKD a drag on loan growth.

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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/.

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