Singapore Banks' 1Q Earnings Momentum May Flatline -- Market Talk

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Singapore Banks' 1Q Earnings Momentum May Flatline -- Market Talk

Dow Jones04-26

0712 GMT - Singapore banks are likely to see their overall earnings momentum flatline in 1Q with net interest income having peaked and slower non-interest income recovery, says Maybank Research analyst Thilan Wickramasinghe in a note. Higher funding costs could also reduce net interest margins but rising expectations for delayed rate-cuts may provide some offset to keep loan yields supported, Wickramasinghe says. Loans growth could still be pressured due to a weak North Asia, high rates and a strong Singapore dollar impacting foreign currency translation, he adds. Maybank has a buy rating for DBS, with a target of S$37.66. It has a hold rating for UOB and OCBC with a targets of S$30.88 and S$14.05, respectively. DBS shares last at S$34.44, UOB at S$30.45 and OCBC at S$14.25.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 26, 2024 03:12 ET (07:12 GMT)

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Ngohiang
·04-26
LOLs this guy wants to buy $DBS shares, so he 'reports' crap pieces like these...
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Loans growth could still be pressured due to a weak North Asia, high rates and a strong Singapore dollar impacting foreign currency translation, he adds. Maybank has a buy rating for DBS, with a target of S$37.66. It has a hold rating for UOB and OCBC with a targets of S$30.88 and S$14.05, respectively. 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