Singapore Banks May Report Robust Earnings for 4Q -- Market Talk

Dow Jones2023-02-06

0517 GMT - Singapore banks may report robust net-profit growth of 31%-79% on-year for 4Q on stronger net interest margins, Jefferies analyst David Lum says in a research note. The analyst reckons that Singapore banks' expense-to-income ratios were relatively stable in 4Q, as strong top-line growth from net-interest income would have allowed them to increase expenses for wages and investments. "DBS remains our top pick as we believe the market is still underestimating its NIM trajectory in a structurally higher interest-rate environment," he adds. Daiwa expects DBS to raise its quarterly dividend per share to S$0.49 from S$0.36, which represents a payout ratio of around 49% for 2023. DBS gains 0.8%, UOB adds 0.6% and OCBC slips 0.2%. (


(END) Dow Jones Newswires

February 06, 2023 00:17 ET (05:17 GMT)

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