SINGAPORE (Nov 2): DBS Group Holdings is upgrading Oversea-Chinese Banking Corp (OCBC) to “buy”, saying it will continue to benefit from the rising rate cycle.

With NIM expansion now visible and CET1 ratio at 13.6% above OCBC’s comfortable range, DBS says this may remove overhang on the stock price due to its lower dividend yield compared to peers should the lender decide to pay higher dividends.

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