SINGAPORE (Dec 20): DBS Group Research says it expects Singapore banks to deliver “resilient” earnings growth of close to 8% in FY19, following a record year in FY18 with earnings rising 27% y-o-y.

“While growth in non-interest income may be moderated due to weaker market-related income, stronger net interest income and low credit costs should still continue to support the banks’ performance,” says analyst Lim Rui Wen in a 2019 outlook and strategy report.

Overall, the research house forecasts an uplift in net interest margins going into 2019, with an improvement of at least 6-7 basis points y-o-y.

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