Brokers' take
Singapore banking | Overweight UOB Kay Hian, Nov 1
LOAN growth for domestic lending picked up from 5.1 per cent year on year in August to 6.2 per cent year on year in September. Growth in low-cost savings and demand deposits was healthy at 7.8 per cent and 4.5 per cent year on year respectively. Growth in foreign currency loans was also robust at 10.3 per cent year on year. Interest rates should be marching higher again as the US Federal Reserve is widely anticipated to hike Fed funds rate by another 25 basis points in December 2017. Our top pick is OCBC, followed by DBS.
Sembcorp Marine | Buy Target price: S$2.26 Nov 1 close: S$2.01 OCBC Investment Research, Nov 1
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