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NRA Capital Pte Ltd

Written by: Lynn Look

Monday 18 Mar 2013

Singapore Banks - Part 2

NIMs still trending down possibly for another 1-2 quarters

Net Interest Margins (NIM) dipped further in 4Q and are expected to remain under pressure for at least another 1-2 quarters. NIMs of all three local banks contracted on a q-o-q and y-o-y basis in the fourth quarter due to higher funding cost as banks build up their deposit base ahead of BASEL III and the high liquidity in the system. Bank managements think that margin squeeze may continue for another 1-2 quarters in 2013 but the extent of contraction is likely to get smaller. NIMs should head up in the

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