Written by: Lynn Look
Wednesday 21 Sep 2016
Singapore banks - 2016 Half year Review
Half-time report card – a number of surprises
Sharp NIMs contraction at both UOB and OCBC in 2Q due to falling SIBOR while DBS bucked the trend. DBS which has more SIBOR pegged loans than its peers surprised market with a 2bp q-o-q improvement due to better balance sheet management during the quarter. However, the impact of the lower SIBOR will be felt in 3Q for DBS. UOB’s NIMs fell the most by 10bp from Q1 as the bank’s NIMs narrowed due to excess liquidity bumped up prior to Brexit while OCBC’s fell 7bp.
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