Domestic banking units (DBU) funding is being supported by foreign currency deposits and funding costs are expected to trend downwards as liquidity remains flush, say CGS-CIMB analysts Andrea Choong and Lim Siew Khee in a September 30 note. The analysts are maintaining “neutral” on the sector, recommending “hold” on all three banks with target prices of $20.46 for DBS, $9.38 for OCBC and $20.58 for UOB.

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