SINGAPORE (Dec 4): DBS Vickers Securities is maintaining its “buy” for United Overseas Bank (UOB) and Oversea-Chinese Banking Corp (OCBC) with target prices of $29.50 and $13.20.
In a Tuesday report, analyst Lim Rui Wen notes that UOB is offering close to 5% yield and OCBC, at around 4%.
In particular, she prefers UOB for its strong capital position and the ongoing build-up of its liquidity buffers; continuous growth in loan book and expected NIM expansion; as well as the bank as a defensive pick in general, as it has a smaller exposure to China among the local banks and more defensive wealth management franchise.
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