After a strong Q2, what’s next for Singapore banks? Analysts see DBS, OCBC ahead on wealth
UOB is overshadowed by weaker fee outlook and asset-quality concerns, but some analysts call it a ‘value play’
Singapore's three major banks are facing mixed opinions from analysts after their second-quarter results, with a focus on wealth management as a key differentiator in a low-interest rate environment. DBS and OCBC are seen more favorably, with strong performances in wealth management and a more optimistic overall earnings outlook.
However, UOB is facing scrutiny over its wealth strategy execution and asset-quality concerns, along with a forecast of weaker fee income. The resale of properties in Sentosa Cove has been largely disappointing, with two-thirds of sales being below market value and an average loss surpassing S$1 million since 2023.
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