CGS-CIMB maintains 'overweight' call on banks amid digibank race

Singapore

CGS-CIMB is maintaining its "overweight" call on Singapore's banks amid a flurry of developments over the contenders for the ongoing digital bank race.

"While we anticipate stiff digital competition over the medium term, financial impact to deposits and fees should be manageable," said analysts Andrea Choong and Lim Siew Khee in a sectoral flash note on Tuesday.