DBS, OCBC, UOB’s big sell-off: Was it their Q3 numbers or a broader market de-rating?
Strong year-to-date performance underscores their continued relevance to investors amid the recent volatility
[SINGAPORE] The shares of the three Singapore banks dived last week as they reported mixed Q3 2026 financial numbers. But imagine how ugly things might have been if their shares had not already taken a beating in early October after some analysts flagged the risk of their financial performance falling short of the market’s elevated expectations.
Ironically, OCBC – which led the sell-off in early October – was the only one that managed to beat analysts’ forecasts. Its net profit for Q3 2026 increased 3 per cent to S$2.04 billion.
DBS reported a 5 per cent decline in Q3 2026 net profit to S$2.81 billion. UOB’s net profit for the quarter came in at S$1.25 billion, up 182 per cent against an exceptionally depressed Q3 2025 net profit of just S$443 million.
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