- See Earnings Calendar – 3Q25 results season for Singapore banks kicks off with DBS reporting its results on 5 Nov 25, followed by UOB on 6 Nov 25 and OCBC on 7 Nov 25.
Maintain MARKET WEIGHT.
- - Read this at SGinvestors.io -
- NIMs are under pressure due to lower benchmark interest rates, such as SORA, although the pace of decline is expected to be slower in 2H25 and 1H26.
Macro uncertainties linger.
- - Read this at SGinvestors.io -
- In Singapore, 3Q25 GDP growth of 2.9% has outperformed expectations. Singapore’s outlook is clouded by external risks, especially from US protectionist trade policies and global demand uncertainties. Ministry of Trade and Industry expects a moderation in GDP growth to 1.5 to 2.0% in 2026, slightly lower than the 2025 forecast of 1.5- 2.5%, due to weaker external demand, especially from major economies like the US and China, and headwinds facing the manufacturing sector.
Fed switches emphasis to supporting economic 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/ 2025-10-21
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)
