Safe-haven flows, no Q1 Fed cut support positive earnings outlook for DBS, OCBC, UOB: analysts
All 3 lenders have little to no exposure to private credit risks, management teams say
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[SINGAPORE] Singapore’s three local lenders – DBS, OCBC and UOB – could see first-quarter net interest income supported by safe-haven deposit inflows linked to the ongoing Middle East war, analysts said.
The boost also comes as the US Federal Reserve backed away from previously expected rate cuts in the first quarter after fuel prices surged, though this may be partly offset by lower benchmark rates in Singapore and Hong Kong during the period.
The next Fed meeting is later this week, with analysts expecting the central bank to keep rates unchanged.
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