Singapore Banks' 2Q Earnings Could Fall

Dow Jones07-16

Singaporean lenders' 2Q earnings could weaken on falling interest rates, says Citi's Tan Yong Hong in a note.

He expects the lower Singapore and Hong Kong interest rates to have cut net interest margins by six to eight basis points. U.S. dollar deposits funding Hong Kong-dollar loans likely dragged NIMs lower, but declines could have been offset by non-interest income.

Robust wealth and loan-related fees from 1Q are likely to have moderated in 2Q, while the Singapore dollar's strength against the U.S. dollar and Hong Kong dollar could have depressed growth in assets under management.

He expects DBS's profit to be in line with expectations and OCBC's to beat slightly. UOB could miss estimates due to its higher sensitivity to interest rate movements.

Citi has a buy call on DBS and neutral ratings for OCBC and UOB.

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LuCkyTiger
07-16
LuCkyTiger
boom last 2 years already.. time is over

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U.S. dollar deposits funding Hong Kong-dollar loans likely dragged NIMs lower, but declines could have been offset by non-interest income. </p><p>Robust wealth and loan-related fees from 1Q are likely to have moderated in 2Q, while the Singapore dollar's strength against the U.S. dollar and Hong Kong dollar could have depressed growth in assets under management. </p><p>He expects <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>'s profit to be in line with expectations and OCBC's to beat slightly. <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> could miss estimates due to its higher sensitivity to interest rate movements. </p><p>Citi has a buy call on DBS and neutral ratings for OCBC and UOB.</p>","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>Singapore Banks' 2Q Earnings Could Fall</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{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Banks' 2Q Earnings Could Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-07-16 10:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Singaporean lenders' 2Q earnings could weaken on falling interest rates, says Citi's Tan Yong Hong in a note. </p><p>He expects the lower Singapore and <a href=\"https://laohu8.com/S/HKRHF\">Hong Kong</a> interest rates to have cut net interest margins by six to eight basis points. U.S. dollar deposits funding Hong Kong-dollar loans likely dragged NIMs lower, but declines could have been offset by non-interest income. </p><p>Robust wealth and loan-related fees from 1Q are likely to have moderated in 2Q, while the Singapore dollar's strength against the U.S. dollar and Hong Kong dollar could have depressed growth in assets under management. </p><p>He expects <a href=\"https://laohu8.com/S/D05.SI\">DBS</a>'s profit to be in line with expectations and OCBC's to beat slightly. <a href=\"https://laohu8.com/S/U11.SI\">UOB</a> could miss estimates due to its higher sensitivity to interest rate movements. </p><p>Citi has a buy call on DBS and neutral ratings for OCBC and UOB.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","D05.SI":"星展集团控股","O39.SI":"华侨银行"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2551119638","content_text":"Singaporean lenders' 2Q earnings could weaken on falling interest rates, says Citi's Tan Yong Hong in a note. He expects the lower Singapore and Hong Kong interest rates to have cut net interest margins by six to eight basis points. U.S. dollar deposits funding Hong Kong-dollar loans likely dragged NIMs lower, but declines could have been offset by non-interest income. Robust wealth and loan-related fees from 1Q are likely to have moderated in 2Q, while the Singapore dollar's strength against the U.S. dollar and Hong Kong dollar could have depressed growth in assets under management. He expects DBS's profit to be in line with expectations and OCBC's to beat slightly. UOB could miss estimates due to its higher sensitivity to interest rate movements. 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