SINGAPORE (Oct 19): Recent volatility in global markets, coupled with flattish loan growth, suggests “muted” revenues are a possibility for Singapore’s banks in the third quarter.

Oversea-Chinese Banking Corp., United Overseas Bank and DBS Group Holdings will report earnings in that order at the end of this month and early next.

“Of the three banks we view UOB should produce a better quarter-on-quarter result, as its non-interest income is more skewed to basic banking fees, while DBS and OCBC are more driven by markets and wealth management respectively,” Citi says.

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