Iggy's Journal: All Three Banks Miss My 4.7% Yield Hurdle, and OCBC Is Only 1bp Above My 3.2% Floor

Iggy's Journal: All Three Banks Miss My 4.7% Yield Hurdle, and OCBC Is Only 1bp Above My 3.2% Floor

Mon 9 Nov 2026 | Midday

The Numbers

DBS, UOB and OCBC all report a fully phased-in CET1 ratio of 14.0%. Their transitional ratios differ: DBS is at 15.9%, UOB at 14.6% and OCBC at 15.5%. Each bank gives a different reason for the fall since June. At the 6 November close, DBS yields 4.56%, UOB 4.31% and OCBC 3.21%.

My Personal Take

If all three banks report the same 14.0% headline, why do their transitional ratios sit so far apart? That is the question I started with, and it leaves me with one more. Does the same capital number tell me the same thing about each bank's capacity to pay a dividend? I am not putting a verdict on the shares in this entry. The free video and the Substack piece walk through it, and the Members Edition goes further. One more thing: my voice is hoarse in the video. I had a bad flu over the weekend, and I apologise for how it sounds.

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Their transitional ratios differ: DBS is at 15.9%, UOB at 14.6% and OCBC at 15.5%. Each bank gives a different reason for the fall since June. At the 6 November close, DBS yields 4.56%, UOB 4.31% and OCBC 3.21%.\n\nMy Personal Take\nIf all three banks report the same 14.0% headline, why do their transitional ratios sit so far apart? That is the question I started with, and it leaves me with one more. Does the same capital number tell me the same thing about each bank's capacity to pay a dividend? I am not putting a verdict on the shares in this entry. The free video and the Substack piece walk through it, and the Members Edition goes further. One more thing: my voice is hoarse in the video. I had a bad flu over the weekend, and I apologise for how it sounds.</body></html>","htmlText":"<html><head></head><body>Iggy's Journal: All Three Banks Miss My 4.7% Yield Hurdle, and OCBC Is Only 1bp Above My 3.2% Floor\n\n<img data-align=\"center\" src=\"https://community-static.tradeup.com/news/4f3efaa855c7f787ae40aaa0d2f7d00e\" tg-width=\"896\" tg-height=\"1200\">\nMon 9 Nov 2026 | Midday\n\nThe Numbers\nDBS, UOB and OCBC all report a fully phased-in CET1 ratio of 14.0%. Their transitional ratios differ: DBS is at 15.9%, UOB at 14.6% and OCBC at 15.5%. Each bank gives a different reason for the fall since June. At the 6 November close, DBS yields 4.56%, UOB 4.31% and OCBC 3.21%.\n\nMy Personal Take\nIf all three banks report the same 14.0% headline, why do their transitional ratios sit so far apart? That is the question I started with, and it leaves me with one more. Does the same capital number tell me the same thing about each bank's capacity to pay a dividend? I am not putting a verdict on the shares in this entry. The free video and the Substack piece walk through it, and the Members Edition goes further. One more thing: my voice is hoarse in the video. I had a bad flu over the weekend, and I apologise for how it sounds.</body></html>","text":"Iggy's Journal: All Three Banks Miss My 4.7% Yield Hurdle, and OCBC Is Only 1bp Above My 3.2% Floor Mon 9 Nov 2026 | Midday The Numbers DBS, UOB and OCBC all report a fully phased-in CET1 ratio of 14.0%. Their transitional ratios differ: DBS is at 15.9%, UOB at 14.6% and OCBC at 15.5%. Each bank gives a different reason for the fall since June. At the 6 November close, DBS yields 4.56%, UOB 4.31% and OCBC 3.21%. My Personal Take If all three banks report the same 14.0% headline, why do their transitional ratios sit so far apart? That is the question I started with, and it leaves me with one more. Does the same capital number tell me the same thing about each bank's capacity to pay a dividend? I am not putting a verdict on the shares in this entry. The free video and the Substack piece walk through it, and the Members Edition goes further. One more thing: my voice is hoarse in the video. 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