- Singapore banks under our coverage (SG Banks) generally had a good quarter for wealth fees on improved investor sentiment and continued strong net new money inflow. NIM, though, remains under pressure, and UOB's decision to accelerate the build-up of its performing loan coverage dampened overall sector earnings.
- - Read this at SGinvestors.io -
- We stay NEUTRAL on the sector. Top Pick: DBS.
3Q25 results a mixed bag.
- SG Banks posted a 10% q-o-q and 19% y-o-y decline in 3Q25 PATMI, weighed down by a jump in credit cost resulting from higher non-performing assets (NPAs) and the accelerated build-up of performing loan coverage at UOB. DBS’ results beat estimates on better-than-expected non-II, OCBC’s numbers were in line, while UOB’s results were a miss due to higher-than-expected credit cost.
- - Read this at SGinvestors.io -
Wealth management (WM) fees shine but NIM still under pressure.
- Read more at SGinvestors.io.
