The Motley Fool Singapore
Which Singapore-Listed Bank Is Cheaper Than the Market Now?
The three listed banks in Singapore are DBS Group Holdings Ltd (SGX: D05), Oversea-Chinese Banking Corporation Limited (SGX: O39) and United Overseas Bank Ltd (SGX: U11). The banks make up close to 40% of the Straits Times Index (SGX: ^STI) and are loved by many Singaporean investors due to their resilience. Therefore, it is not astonishing that each of the bank’s shares rose more than 29% in 2017 while the STI only went up around 18% during the same time frame. Given the strong lead up last year, I thought it would be interesting to see which bank is still valued lower than the SPDR STI ETF (SGX: ES3), an exchange-traded fund which can be taken as a proxy for the STI. The table below shows the comparison of the banks against the SPDR STI ETF (the best values are in bold):Source: S&P