SINGAPORE (Oct 22): DBS is maintaining its “overweight” recommendation on Singapore banks within Asean and Singapore and continues to prefer OCBC over UOB for its healthier asset quality, Greater China expansion and its wealth management platform.

In a report out on Thursday, analyst Lim Sue Lin says 3Q15 will not be an “exciting” quarter and expects non-interest income to be mixed across the three Singapore banks.

“UOB should see a better quarter after a weak 2Q while OCBC may see a slight dent to its insurance income due to marked-to-market losses as credit spreads narrow,” says Lim.

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