Singapore banks face uneven recovery in near term, beat Q3 estimates

ANALYSTS 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.