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UOB Kay Hian maintains 'overweight' on Singapore banks; sector to benefit from NIM expansion

Felicia Tan
Felicia Tan7/21/2022 06:06 PM GMT+08  • 4 min read
UOB Kay Hian maintains 'overweight' on Singapore banks; sector to benefit from NIM expansion
On the overall banking sector, UOB Kay Hian notes that the three banks do not have exposure to residential mortgages in mainland China. Photo: Bloomberg
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UOB Kay Hian analyst Jonathan Koh is keeping his “overweight” recommendation on the Singapore banking sector as rising interest rates are expected to lift the net interest margins (NIMs) of all three banks DBS Group Holdings (DBS), United Overseas Bank (UOB) and Oversea-Chinese Banking Corporation (OCBC).

Koh’s report on July 21 comes ahead of the banks’ results for the 2QFY2022.

UOB is the earliest to release its results on July 29, while OCBC will release its results on Aug 3. DBS will round up the trio by releasing its results on Aug 4.

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