- 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.
- - Read this at SGinvestors.io -
3Q24 Earnings Release Dates
- - Read this at SGinvestors.io -
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.
- 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/ 2024-10-17
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)
