Home Capital Broker's Calls

Analysts remain 'overweight' on Singapore banking sector after record 1Q, OCBC and DBS top picks

Atiqah Mokhtar
Atiqah Mokhtar5/14/2021 01:20 PM GMT+08  • 3 min read
Analysts remain 'overweight' on Singapore banking sector after record 1Q, OCBC and DBS top picks
The banks beat analysts' expectations for 1Q21, with DBS and OCBC achieving record earnings.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Analysts from UOB Kay Hian and RHB Group Research see a bright outlook for Singapore’s banking sector for the rest of the year after 1QFY2021 ended March results saw the banks beating expectations.

UOB Kay Hian analyst Jonathan Koh notes that DBS Group Holdings and Overseas-Chinese Banking Corporation (OCBC) achieved record earnings of $2 billion and $1.5 billion respectively for the 1Q, while United Overseas Bank (UOB) posted earnings of $1 billion.

The strong performance was underpinned by stabilisation in net interest margin (NIM), growth in wealth management, strong net trading income and moderation in credit costs.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now