My 3 Singapore Bank Stocks Reached New Highs!

🌟🌟🌟I was super excited yesterday when my 3 Singapore Bank Stocks rose to their highest level in 2 years.

$DBS Group Holdings(D05.SI)$  climbed 2.3% while $UOB(U11.SI)$  rose 2% and $ocbc bank(O39.SI)$  added 1.2%.

Overall $STI ETF(ES3.SI)$  rose 1.4% with gainers outnumbering losses 353 to 232 on trade of 1.6 billion shares worth SGD 1.5 billion in the Singapore markets.

DBS is the biggest bank in Southeast Asia and the largest in Singapore with market capitalisation of SGD 108.4 billion.  DBS has been my best performing Singapore stock so far. DBS has rewarded me with bonus shares in February this year on the basis of 1 bonus share for every 10 shares I held.  On top of that it has increased its dividends by 24% from 2023 to SGD 2.16 per share. 

OCBC is the 2nd largest bank in Singapore with market capitalisation of SGD 67.63 billion. Recently OCBC plans to acquire the remaining shares of Great Eastern for SGD 1.4 billion with a view to strengthen its business pillars of banking, wealth management and insurance.  

$UOB(U11.SI)$  is the 3rd largest bank in Singapore with market capitalisation of SGD 54.40 billion. After acquiring Citibank 's consumer banking business in Malaysia, Thailand, Indonesia and Vietnam for SGD 4.9 billion, UOB has a stronger foothold in South East Asia' s consumer banking business. 

This strategic move would increase by almost 10% of UOB's earnings and achieve a greater Earnings Per Share.   

DBS, OCBC and UOB pay great dividends.  The current dividend yield of DBS is 5% while OCBC is 5 47% and UOB is 5.27%.

These 3 Singapore banks are the bedrock of Singapore's economy and provide extensive financial services not only to Singaporeans but to the ASEAN region as well. 

DBS, OCBC and UOB tick all the core fundamentals of a quality stock - good profits, strong growth, wide moats, rock solid balance sheet and excellent management team. That is why they are in my core portfolio to hold long term.  The best part is the dividends which is a great source of passive income while waiting for capital growth. 

As a Singaporean, I am proud to own DBS, OCBC and OCBC as they represent the Singapore spirit of Growth, Energy and the Resilience to succeed whatever challenges that may arise. 

Go Long Go Strong Go DBS, OCBC and UOB! 🚀🚀🚀🌛🌛🌛🌈🌈🌈💰💰💰🇸🇬🇸🇬🇸🇬

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