S’pore banks Q2 earnings: DBS, OCBC shares could go higher; asset quality concerns resurface at UOB
Analysts remained upbeat on DBS and OCBC, while taking a more mixed outlook on UOB.
Singapore banks DBS, OCBC and UOB reported a rise in second-quarter earnings, with analysts predicting further share price growth for DBS and OCBC. UOB's asset quality concerns may impact near-term profitability. DBS closed at $75.85, while OCBC and UOB closed at $31.19 and $41.95 respectively on August 12. DBS upgraded its 2026 targets and raised its price target, while OCBC's fee income, trading and insurance contributed to its strong second-quarter earnings.
UOB's non-performing assets increased by 90% year on year, attributed to a large real estate account in Greater China.
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