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DBS to benefit most from rate hikes

Jude Chan
Jude Chan7/12/2017 4:2 PM GMT+08  • 2 min read
DBS to benefit most from rate hikes
SINGAPORE (July 12): Credit Suisse is maintaining its “outperform” rating on DBS Group Holdings, with a slightly higher target price of $22.70, from $22.60 previously.
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SINGAPORE (July 12): Credit Suisse is maintaining its “outperform” rating on DBS Group Holdings, with a slightly higher target price of $22.70, from $22.60 previously.

According to Credit Suisse lead analyst Danny Goh, Singapore’s local interest rates are likely to start playing catch up with US rates, which are expected to see subsequent rate hikes.

Goh says DBS is most leveraged to local rate movements as it has the highest ratio of deposits in current and saving accounts to total deposits. DBS has a CASA of 62%, compared to UOB’s 45% and OCBC’s 50%.

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