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 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?
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