I’ve been watching Singapore’s banks closely. While the rebound is nice to see, I’m still cautious about 2025 earnings. Pressures on net interest margins, slowing loan growth, and weaker wealth management fees—especially with a possible Fed rate cut—could weigh on results. Lower rates mean tighter margins, which hurts banks’ core income.
That said, valuations are starting to look attractive. PE ratios are low, and dividend yields are appealing—especially with DBS, which also stands out for its stable NIM and aggressive buybacks. Right now, DBS looks like the best pick to me, but if OCBC or UOB dip further, they could be worth a look.
I’m also tracking U.S. bank earnings for signs of what’s to come. If there’s weakness, it could impact local sentiment too. For now, I’m staying patient, holding cash, and watching for a better entry point.
$DBS Group Holdings(D05.SI)$ $ocbc bank(O39.SI)$ $UOB(U11.SI)$
@Tiger_SG @TigerStars @Tiger_comments 
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