Singapore banks shine in 'World's Safest Banks 2017' rankings

SINGAPORE banks DBS, OCBC and UOB shone once again in trade publication Global Finance's "The World's 50 Safest Banks 2017" rankings.

DBS Bank took 11th position, OCBC 13th and UOB 14th. They took the first three positions of Asia rankings in that order.

As the "Safest Bank in Asia", DBS will be invited to Global Finance's awards and 30th anniversary celebration in Washington, DC, in the US, on Oct 14 during the International Monetary Fund and World Bank annual meetings.

In an Aug 22 report, Maybank Kim Eng Research said that it kept its "neutral" rating on Singapore banks.

Exposure to the beleaguered oil and gas sector remains a drag, it said.

Separately, OCBC Investment Research on Sept 14 upgraded DBS from a "hold" to a "buy", citing positive developments in its wealth segment and an improvement in the outlook for the local property market.