Singapore banks face uneven recovery in near term, beat Q3 estimates
Add BT as a preferred sourceANALYSTS are flagging an uneven recovery for the Singapore banks in the short term, even as the trio posted better-than-expected results in the third quarter of 2021.
The concerns reflect the wobbly reopening of economies in this region, as Covid-19 continues to spread.
On OCBC, CGS-CIMB noted that its Malaysia consumer book turned out to be a key asset quality pain point; the group's collateralisation level of 89 per cent for moratorium portfolio buffers this risk.
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