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UOB, OCBC to benefit from mortgage rate hikes this year, says DBS

Chan Chao Peh
Chan Chao Peh4/2/2019 05:33 PM GMT+08  • 2 min read
UOB, OCBC to benefit from mortgage rate hikes this year, says DBS
SINGAPORE (Apr 2): DBS Vickers Securities is remaining bullish on Singapore’s banks as a dividend yield play, while highlighting rising mortgage rates as the sector’s bright spot amid higher cost of funds this year.  
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SINGAPORE (Apr 2): DBS Vickers Securities is remaining bullish on Singapore’s banks as a dividend yield play, while highlighting rising mortgage rates as the sector’s bright spot amid higher cost of funds this year.

In a Tuesday report, analyst Lim Rui Wen says UOB will benefiting from hikes in mortgage rates in 1Q19, as it was the first to increase it Singdollar fixed deposit rates during February this year.

According to UOB, its mortgages based on fixed deposit rates may grow up to 70 basis points.

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