SG Banks Q1: NII Under Pressure, Who Held Up on Wealth Management?

All three beat Bloomberg consensus, but for different reasons: DBS and OCBC outperformed on wealth management, while UOB defended earnings through lower credit provisions. With SORA averaging 1.07% in Q1 versus 2.54% a year earlier, NII compression across the board is a foregone conclusion. The real question is which bank's wealth management narrative can sustain momentum in the second half — after these three reports, which do you favor?

wow, very good offer for Sg users
avatarZash
05-12
These are some of the things to consider Singapore banks are still doing well overall, but you can definitely see pressure starting to build from lower interest rates. The big thing this quarter was seeing which banks could rely on wealth management and fee income to make up for weaker net interest income. DBS probably looked the strongest overall. Their wealth management business stayed very strong, and they continue bringing in a lot of client money, which helped support earnings. OCBC also surprised a lot of people in a good way. Their wealth management fees and non-interest income were strong, so they handled the pressure pretty well too. UOB wasn’t weak, but compared to DBS and OCBC, it looked a bit slower this quarter. They’re still pushing to grow wealth management, but the results
I'll choose DBS as it has consistently proven to deliver and beat it's peers over the years. Additionally, the more frequent distribution of dividend makes it a preferred choice for income seeking investor like myself.
avatartma
05-10
SG banks are doing very well 
avatartma
05-10
SG banks seem to be doing very well 
I'd hold: DBS With quarterly dividends that's been assured for next foreseeable few quarters, good wealth management growth, it's my top pick. I love to use their digital banking under the wealth management too. It's so convenient. So, I'll invest business that I am using. Are you a DBS client too? 😊
avatarjoolz
05-10
when people dump, it's time to buy. when people buy madly, it's time to dump. i will choose uob and trust in it's vision to reap the most returns of the 3.

🏦 Singapore Banks: Wealth Tsunami Drowning NII Pain — $DBS Takes Crown 👑

The Pulse 🌊 $DBS(D05.SI)$ $OCBC Bank(O39.SI)$ $UOB(U11.SI)$ Singapore's banking titans just dropped Q1 scorecards, and here's the verdict: Net Interest Income is bleeding, but wealth management is printing money like it's going out of style. $DBS, $OCBC, and $UOB collectively saw NII crater 6-8% YoY as SORA collapsed from 2.54% to 1.07%, yet they still beat consensus by flexing their wealth arms. $DBS is the undisputed alpha here—SGD 12B in wealth inflows (+15% YoY) crushed the game while revenue beat Bloomberg by +4.2%. Meanwhile, $UOB hit oversold RSI(14) at 28, screaming technical rebound setup. This isn't just a Q1 story; it's a wealth war where Singapo
🏦 Singapore Banks: Wealth Tsunami Drowning NII Pain — $DBS Takes Crown 👑
avatarkoolgal
05-09
🌟🌟🌟As a dividend focused investor, $DBS(D05.SI)$ remains the dividend heavyweight.  DBS is the only one of the 3 that pays dividends every 3 months. DBS's current dividend yield is 5.2% compared to $OCBC Bank(O39.SI)$ 4.3% and $UOB(U11.SI)$ 4.6%. For 2026, DBS even increased its regular quarterly dividend to SGD 0.66 plus a recurring SGD 0.15 capital return dividend each quarter thro
Yes Highly lightly possible possibly 
right now DBS > OCBC > UOB. but I hold all 3. in case the lagger got surprise, or the leader ran out of steam.
avatarL.Lim
05-08
The big3 are always reliable, but DBS stands out, it barely broke a sweat while UOB seems to have stumbled slightly, so investors went wild and shot the stock price even higher
avatarShyon
05-08
I’d still choose $DBS(D05.SI)$ into year-end because it continues showing the strongest execution among the three banks. Even with lower rates pressuring NII, DBS still delivered strong deposit growth, record wealth fees, and upgraded guidance. I also currently hold a position in DBS as I see it as the most resilient Singapore bank in a volatile market. I think Middle East tensions and global uncertainty could continue supporting Singapore’s safe-haven wealth inflow advantage. Among the local banks, DBS looks best positioned to benefit due to its scale and stronger wealth management franchise. $ocbc bank(O39.SI)$ has interesting long-term upside if its Indonesia integration succeeds, while
Deposits +9% YoY to S$629.9B (two-thirds CASA), wealth fees at a record S$907M, AUM reaching S$492B. FY2026 profit guidance upgraded from "below 2025" to "good shot at 2025 levels." The cleanest beat of the three.
All three beat Bloomberg consensus but also posted NII declines as SORA averaged just 1.07% in Q1 (vs 2.54% a year ago). The dividing line wasn't credit quality or margins — it was wealth management execution. And on that measure, the gap between the three is wider than the headlines suggest.

SG Big 3 Banks Earnings Recap: NII Falls, Who's Winning in Q1?

All three beat Bloomberg consensus but also posted NII declines as SORA averaged just 1.07% in Q1 (vs 2.54% a year ago). The dividing line wasn't credit quality or margins — it was wealth management execution. And on that measure, the gap between the three is wider than the headlines suggest. 📊 Q1 2026 Scorecard for $DBS(D05.SI)$, $UOB(U11.SI)$ and. $OCBC Bank(O39.SI)$ DBS — Deposit surge + wealth machine, guidance upgraded. Deposits +9% YoY to S$629.9B (two-thirds CASA), wealth fees at a record S$907M, AUM reaching S$492B. FY2026 profit guidance upgraded from "below 2025" to "good shot at 2025 levels." The cleanest beat of the three. UOB — The outlier: onl
SG Big 3 Banks Earnings Recap: NII Falls, Who's Winning in Q1?

STI Banks D05, U11 & O39 Beat 1Q26 on Strong NOII

The combined weightage of $DBS(D05.SI)$ $UOB(U11.SI)$ $OCBC Bank(O39.SI)$ in the Straits Times Index (STI) increased from 39.6% at end-2019 to 55.0% in February 2025, before moderating to 51.6% at present, alongside average total returns of 175% over the same period. DBS, OCBC have released 1Q26 financial results, with UOB providing 1Q26 performance highlights, with each reporting results above consensus estimates. NOII Growth Driven by Wealth and Fee Income Combined non‑interest income (NOII) for DBS, OCBC, and UOB rose to S$5.16 billion in 1Q26, up from S$4.00 billion in 4Q25 and S$4.78 billion in 1Q25, representing about 39% of combined total income. The
STI Banks D05, U11 & O39 Beat 1Q26 on Strong NOII
Ocbc always the great share to invest 
OCBC will close at 21.66 UOB will close at 36.2 OCBC won't be able to match DBS wealth management fees.
avatarNFTGR
05-07
Ocbc shall rise and catch up uob soon [Smile]