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NRA Capital Pte Ltd

Written by: Lynn Look

Thursday 5 Jul 2012

Singapore Banks Quarterly: 1Q12 Results Review (Part 4)

Mirror mirror on the wall, who’s the fairest of them all?

Our top pick for the sector is UOB which still offers a decent 15% upside. OCBC is a BUY on weakness as it is trading close to our fair valuation of S$9 while DBS is an AVOID as it is the most vulnerable of the three local banks should events in the Eurozone turn worse due to its higher credit risk profile compared to its peers.

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