Singapore Banks' 4Q 2023 Net Interest Income Likely to Moderate -- Market Talk

Dow Jones01-24

0433 GMT - Singapore banks' 4Q interest income could moderate, as wealth management fees and net trading income are likely to be soft, UOB Kay Hian analysts say in a note. Oversea-Chinese Banking Corporation is one of UOB KH's top bank picks; OCBC's interest income growth is expected to moderate to 3.00% on year. In comparison, DBS's interest income is expected to fall 7.00%. The analysts say DBS's 4Q loan growth will likely remain subdued by weakness in corporate loans and repayments by customers. UOB KH maintains a buy rating for both banks, it targets DBS at S$40.25 and OCBC at S$17.00. DBS shares are at S$31.79 and OCBC's are at S$12.89.(amanda.lee@wsj.com)

 

(END) Dow Jones Newswires

January 23, 2024 23:33 ET (04:33 GMT)

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