The tariffs on SG are based on trade deficits, not how much SG tariffs US products. I doubt there's anything SG can do to prevent or avoid this. Relatively speaking it's still in a better place in comparison to it's neighbours.
UOB, DBS, OCBC: Can Earnings Offset Lower NIMs?
3 SG banks will release earnings since May 7.
Analysts expect DBS and OCBC net income to decline yoy. DBS is likely to report a 4.4% y-o-y decline in net income of $2.95 billion while OCBC's net income is expected to drop by 5.7% y-o-y to $1.98 billion in the 1QFY2025.
Meanwhile, UOB will see its net income increase by 1.1% y-o-y, albeit its slowest pace of growth since 2QFY2024.
Rate cuts may lead to softer net interest margins (NIMs) across all three banks, which may weigh on interest income.
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How do you expect three bank earnings?
Are declining NIMs already priced in the stock?
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