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- IronladyIronlady
  ·03-06
  I just topped up on DBS and OCBC shares. [Miser]
  DBS, UOB and OCBC: Which of These 3 Banks Should You Buy?
  We compare the three banks to see which makes the best investment choice.
  DBS, UOB and OCBC: Which of These 3 Banks Should You Buy?
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[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/281272841830688","repostId":"2417471039","repostType":2,"repost":{"id":"2417471039","kind":"highlight","pubTimestamp":1709689859,"share":"https://ttm.financial/m/news/2417471039?lang=&edition=fundamental","pubTime":"2024-03-06 09:50","market":"sg","language":"en","title":"DBS, UOB and OCBC: Which of These 3 Banks Should You Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2417471039","media":"The Smart Investor","summary":"We compare the three banks to see which makes the best investment choice.","content":"<html><head></head><body><p>The earnings season is officially over.</p><p>Some of the best results this season were delivered by the trio of local banks as they saw their top and bottom lines surge in tandem with rising global interest rates.</p><p>Singapore’s largest bank, <strong>DBS Group</strong> (SGX: D05), pulled off an impressive performance with its 2023 net profit passing the S$10 billion mark for the first time.</p><p>The other two blue-chip banks also fared well.</p><p><strong>United Overseas Bank Ltd</strong> (SGX: U11), or UOB, reported a record high net profit while <strong>OCBC Ltd</strong> (SGX: O39) saw its net profit hit S$7 billion for the first time.</p><p>With all three banks reporting record results, which should you pick for your portfolio?</p><h2 id=\"id_159122423\">Financial performance</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bc392e43fb6455cf1385347312574c79\" tg-width=\"772\" tg-height=\"262\"/></p><p>First, we look at each bank’s financial performance.</p><p>DBS Group takes the cake with a 22.3% year-on-year jump in total income, the highest among the three banks.</p><p>However, when it comes to net profit, OCBC recorded the highest year-on-year jump at 27.1%.</p><p>OCBC also registered a 28.5% year-on-year growth in operating profit before allowances.</p><p><strong>Winner: OCBC</strong></p><h2 id=\"id_3145189166\">NIMs and loan growth</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/141399176f3d35177a043574fecda350\" tg-width=\"770\" tg-height=\"401\"/></p><p>Moving on to each bank’s loan book and net interest margin (NIM), we find that loan growth remains tepid for all three banks.</p><p>DBS and OCBC both registered just a small 0.4% year on year increase in loans while UOB did slightly better at 0.5% year on year.</p><p>Surging interest rates helped to boost all the banks’ NIMs for 2023, with DBS seeing the sharpest rise of 0.4 percentage points from 1.75% in 2022 to 2.15% in 2023.</p><p>However, DBS’s NIM for the fourth quarter of 2023 (4Q 2023) was a tad lower than the 3Q 2023’s 2.19%.</p><p>UOB’s NIM was also slightly lower quarter-on-quarter at 2.02% for 4Q 2023.</p><p>Only OCBC managed to register a quarter-on-quarter NIM increase, ending at 2.29% for 4Q 2023 and 2.28% for the year.</p><p>OCBC’s 2023 NIM was also the highest among the three banks.</p><p><strong>Winner: OCBC</strong></p><h2 id=\"id_1565915614\">Cost-to-income ratio</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/607550ca8385adc17a0917738534e85a\" tg-width=\"772\" tg-height=\"291\"/></p><p>Next, we look at each bank’s cost-to-income ratio (CIR).</p><p>CIR is calculated as the expenses of the bank divided by its total income, so a lower CIR indicates that a bank’s operations are more efficient.</p><p>All three banks saw their CIR decline year on year as total income rose faster than expenses.</p><p>However, the final quarter of the year will typically see higher CIR as the bank makes provision for bonuses for their staff.</p><p>OCBC has the lowest CIR among the three banks for both 4Q 2023 and the full year, making it the clear winner here.</p><p><strong>Winner: OCBC </strong></p><h2 id=\"id_3031788196\">Return on equity (ROE)</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cbc4b16a589a128bc2467d10f9dcbd75\" tg-width=\"770\" tg-height=\"151\"/></p><p>Next, we look at the all-important return on equity (ROE) metric.</p><p>Return on equity measures the net profit generated per dollar of equity of the company and is a measure of profitability per dollar of capital.</p><p>DBS not only had the highest ROE among the trio of banks at 18% but also saw the largest year-on-year increase at three percentage points.</p><p><strong>Winner: DBS Group</strong></p><h2 id=\"id_4137803837\">Non-performing loans (NPL) ratio</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66bc785ce7ae974ba0bde0c1abe6dd6c\" tg-width=\"771\" tg-height=\"150\"/></p><p>The non-performing loans ratio (NPL ratio) looks at the proportion of loans within a bank’s loan book that are non-performing (i.e. cannot be serviced by borrowers).</p><p>Once again, OCBC holds the crown for having the lowest NPL ratio.</p><p>It also enjoyed the biggest improvement in its NPL ratio over the year with a 0.2 percentage point reduction.</p><p><strong>Winner: OCBC</strong></p><h2 id=\"id_2023529588\">Dividend yield</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98520519be683a42029818b7cda0d633\" tg-width=\"772\" tg-height=\"236\"/></p><p>Income investors will love this next characteristic – the dividend yield for each bank.</p><p>The good news is that all three banks raised their year-on-year dividends in tandem with their robust financial results.</p><p>Of the three, OCBC has the highest trailing 12-month dividend yield of 6.3%.</p><p>However, investors should note that DBS raised its quarterly dividend to S$0.54 from 4Q 2023 onwards.</p><p>On a projected 2024 dividend of S$2.16, DBS provides a forward dividend yield of 6.4%.</p><p>In addition, DBS also declared a 1-for-10 bonus issue of shares with the new shares being entitled to the increased dividend.</p><p>When adjusted for this bonus issue, DBS’s dividend yield rises to 7.1%</p><p><strong>Winner: DBS Group</strong></p><h2 id=\"id_766532340\">Valuation</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3357ea4656393dadd8aa74a202feeed\" tg-width=\"771\" tg-height=\"207\"/></p><p>Finally, we look at each bank’s valuation to determine if their shares are cheap, or expensive.</p><p>Of the three, UOB has the lowest price-to-book ratio at 1.08 times, which was a tad lower than 1.1 times back in November 2023.</p><p>OCBC’s valuation has also come down slightly from 1.14 times price-to-book to just 1.1 times.</p><p>Only DBS sports the same valuation as it did back in November at 1.45 times price-to-book.</p><p><strong>Winner: UOB</strong></p><h2 id=\"id_2063214818\">Get Smart: OCBC is the winner</h2><p>Tallying up all the attributes makes OCBC the clear winner.</p><p>However, income investors may wish to own DBS which sports the highest dividend yield.</p><p>You also need to look at each bank’s plans and prospects to decide which bank fits best in your investment portfolio.</p></body></html>","source":"thesmartinvestor_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DBS, UOB and OCBC: Which of These 3 Banks Should You Buy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDBS, UOB and OCBC: Which of These 3 Banks Should You Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-06 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/dbs-uob-and-ocbc-which-of-these-3-banks-should-you-buy/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The earnings season is officially over.Some of the best results this season were delivered by the trio of local banks as they saw their top and bottom lines surge in tandem with rising global interest...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/dbs-uob-and-ocbc-which-of-these-3-banks-should-you-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","LU0873338254.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) INC","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","SG9999001127.SGD":"United Singapore Growth Fund SGD","BK6516":"银行与投资服务概念","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","CIR":"Circor国际","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0557290698.USD":"施罗德环球可持续增长基金","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","SG9999001903.USD":"Aberdeen Standard Pacific Equity USD","LU0588545490.SGD":"Eastspring Investments - Asian Equity Income AS SGD","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","ROE":"ASTORIA US QUALITY KINGS ETF","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","LU0672654166.SGD":"FTIF - Templeton Asian Growth A (acc) SGD-H1","NIM":"纽文精选市政基金","D05.SI":"星展集团控股","SG9999002562.SGD":"LionGlobal Asia Pacific SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","LU0543330483.HKD":"TEMPLETON ASIAN GROWTH \"A\" (HKD) ACC","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","SG9999001135.SGD":"United ASEAN Fund SGD","O39.SI":"华侨银行","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0251143029.SGD":"Fidelity ASEAN A-SGD","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","SG9999000459.SGD":"Aberdeen Standard Pacific Equity SGD","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund  SGD","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU1981816686.USD":"EASTSPRING INV ASIAN MULTI FACTOR EQUITY \"A\" (USD) ACC","LU0878005551.USD":"UBS (LUX) KEY SELEC ASIA ALLOCATION OPPORTUNITY (USD) \"P\" (USD) ACC","LU1206712785.SGD":"Aviva Investors - Multi-Strategy Target Return Ah SGD","U11.SI":"大华银行","DBS":"Invesco DB Silver Fund"},"source_url":"https://thesmartinvestor.com.sg/dbs-uob-and-ocbc-which-of-these-3-banks-should-you-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2417471039","content_text":"The earnings season is officially over.Some of the best results this season were delivered by the trio of local banks as they saw their top and bottom lines surge in tandem with rising global interest rates.Singapore’s largest bank, DBS Group (SGX: D05), pulled off an impressive performance with its 2023 net profit passing the S$10 billion mark for the first time.The other two blue-chip banks also fared well.United Overseas Bank Ltd (SGX: U11), or UOB, reported a record high net profit while OCBC Ltd (SGX: O39) saw its net profit hit S$7 billion for the first time.With all three banks reporting record results, which should you pick for your portfolio?Financial performanceFirst, we look at each bank’s financial performance.DBS Group takes the cake with a 22.3% year-on-year jump in total income, the highest among the three banks.However, when it comes to net profit, OCBC recorded the highest year-on-year jump at 27.1%.OCBC also registered a 28.5% year-on-year growth in operating profit before allowances.Winner: OCBCNIMs and loan growthMoving on to each bank’s loan book and net interest margin (NIM), we find that loan growth remains tepid for all three banks.DBS and OCBC both registered just a small 0.4% year on year increase in loans while UOB did slightly better at 0.5% year on year.Surging interest rates helped to boost all the banks’ NIMs for 2023, with DBS seeing the sharpest rise of 0.4 percentage points from 1.75% in 2022 to 2.15% in 2023.However, DBS’s NIM for the fourth quarter of 2023 (4Q 2023) was a tad lower than the 3Q 2023’s 2.19%.UOB’s NIM was also slightly lower quarter-on-quarter at 2.02% for 4Q 2023.Only OCBC managed to register a quarter-on-quarter NIM increase, ending at 2.29% for 4Q 2023 and 2.28% for the year.OCBC’s 2023 NIM was also the highest among the three banks.Winner: OCBCCost-to-income ratioNext, we look at each bank’s cost-to-income ratio (CIR).CIR is calculated as the expenses of the bank divided by its total income, so a lower CIR indicates that a bank’s operations are more efficient.All three banks saw their CIR decline year on year as total income rose faster than expenses.However, the final quarter of the year will typically see higher CIR as the bank makes provision for bonuses for their staff.OCBC has the lowest CIR among the three banks for both 4Q 2023 and the full year, making it the clear winner here.Winner: OCBC Return on equity (ROE)Next, we look at the all-important return on equity (ROE) metric.Return on equity measures the net profit generated per dollar of equity of the company and is a measure of profitability per dollar of capital.DBS not only had the highest ROE among the trio of banks at 18% but also saw the largest year-on-year increase at three percentage points.Winner: DBS GroupNon-performing loans (NPL) ratioThe non-performing loans ratio (NPL ratio) looks at the proportion of loans within a bank’s loan book that are non-performing (i.e. cannot be serviced by borrowers).Once again, OCBC holds the crown for having the lowest NPL ratio.It also enjoyed the biggest improvement in its NPL ratio over the year with a 0.2 percentage point reduction.Winner: OCBCDividend yieldIncome investors will love this next characteristic – the dividend yield for each bank.The good news is that all three banks raised their year-on-year dividends in tandem with their robust financial results.Of the three, OCBC has the highest trailing 12-month dividend yield of 6.3%.However, investors should note that DBS raised its quarterly dividend to S$0.54 from 4Q 2023 onwards.On a projected 2024 dividend of S$2.16, DBS provides a forward dividend yield of 6.4%.In addition, DBS also declared a 1-for-10 bonus issue of shares with the new shares being entitled to the increased dividend.When adjusted for this bonus issue, DBS’s dividend yield rises to 7.1%Winner: DBS GroupValuationFinally, we look at each bank’s valuation to determine if their shares are cheap, or expensive.Of the three, UOB has the lowest price-to-book ratio at 1.08 times, which was a tad lower than 1.1 times back in November 2023.OCBC’s valuation has also come down slightly from 1.14 times price-to-book to just 1.1 times.Only DBS sports the same valuation as it did back in November at 1.45 times price-to-book.Winner: UOBGet Smart: OCBC is the winnerTallying up all the attributes makes OCBC the clear winner.However, income investors may wish to own DBS which sports the highest dividend yield.You also need to look at each bank’s plans and prospects to decide which bank fits best in your investment portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}