The Singapore research team at RHB Group Research remains positive on Singapore banks, despite a “noticeable” pullback in share prices in August. 

“Still, sector fundamentals are healthy and we remain positive on Singapore banks over the next 12 months,” the team says in a Sept 14 research note. RHB has kept its "overweight" rating for the sector unchanged.

Following share price gains of some 25% between Jan 1 to Aug 10, Singapore banks saw the gains trimmed to 18% on a year-to-date basis on Sept 13. 

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