Singapore banks likely to see slower Q3 growth amid weak loans, flattish interest margins

THE trio of local banks – DBS , OCBC and UOB – are likely to post slower growth for the third quarter ended September 2023, with earnings expected to be weighed down by weak loans and minimal expansion in net interest margins (NIMs), analysts said.

The Singapore banks are due to report their Q3 results in the coming weeks. This will begin with UOB on Oct 26, followed by DBS on Nov 6 and OCBC on Nov 10.

While analysts still see some room for NIMs to grow, the figures are expected to remain largely flattish.