- 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 the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ 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)
