DBS Breaks $55 While UOB Slides: Would 2026 Be Harsh For SG Banks?
Singapore’s two largest banks released their earnings today. $DBS(D05.SI)$ hit a record high, while $UOB(U11.SI)$ plunged 3%. Let’s take a look at the key highlights from their reports.
DBS: Delivered strong results despite softer margins; record income and higher dividend show balance-sheet resilience. 2026 guidance implies only a slight dip in earnings, cushioned by wealth-management momentum.
UOB: Hit hard by heavy provisioning; 2026 margins likely to fall further. Management prioritizes prudence and coverage, but profit recovery depends on credit-cycle stability.
DBS breaks $55 with record income!
Q3 results were resilient and beat estimates. NIM narrowed but diversified income offset pressure. Lower commercial-book NII due to rate decline, partly offset by strong non-interest income growth. Total Income hit a record high, driven by strong wealth management and deposit growth
Net Profit: S$2.95 b (-2% YoY) vs estimate S$2.72 b (beat 8.46%)
Net Interest Margin (NIM): 1.96% (down from 2.11%)
Dividend: 75 Singapore cents per share (60 c ordinary + 15 c capital return) vs 54 c a year ago
2026 outlook
Net Profit expected to dip slightly from 2025. Total Income expected to stay around 2025 levels despite rate headwinds
Commercial-book non-interestn income would be high-single-digit growth while wealth-management Income would be mid-teens growth
UOB: Margins weakening further into 2026
Sharp profit slump driven by heavy credit-loss provisions. S$1.36 b total allowances (including S$615 m in pre-emptive general provisions).
CEO said "We proactively set aside general allowances to strengthen provision coverage, supported by a strong capital base.” Dividend plan remains unchanged.
Net Profit: S$443 m (-72% YoY) vs estimate S$1.35 b.
Net Interest Margin (NIM): 1.82% (down from 2.05%)
2026 Outlook:
NIM: Expected at 1.75–1.80% (below 2025’s 1.85–1.90%)
Loan Growth: Low single digits; Fee Income: High-single- to double-digit growth
Profitability under pressure from narrowing spreads and elevated provisions
Will $OCBC Bank(O39.SI)$ follow which company's trend?
Take profit of DBS as it hits a record high? Or buy the dip of UOB?
Would banks suffer in 2026?
Leave your comments to win tiger coins~
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In contrast, $UOB(U11.SI)$ profits slumped due to heavy provisions and weaker margins. Management’s prudence in building reserves is wise, but the steep profit drop and cautious guidance highlight ongoing challenges. Investors are rightly pricing in near-term headwinds for UOB.
For $ocbc bank(O39.SI)$ , I expect results between DBS and UOB — steady but moderate. I’d trim DBS to lock in profits after its strong run and wait for more clarity before buying UOB’s dip. With rate cuts likely in 2026, banks may face further NIM pressure, though fee and wealth income could cushion the impact.
@Tiger_SG @Tiger_comments @TigerStars
然而，我们的3家新加坡本地银行已经在为这一转变做准备，并拥有替代收入来源来减轻影响。
我们的新加坡银行 $星展集团控股(D05.SI)$ $华侨银行(O39.SI)$ 和 $大华银行(U11.SI)$ 专注于利润丰厚的财富管理和私人银行业。银行可以通过投资产品、咨询服务和投资组合管理来管理高净值个人和零售客户的资产，从而产生大量费用。
此外，管理投资基金和其他资产管理服务的费用提供了稳定的、非利息的收入来源。
较低的利率也可能转化为银行贷款的增加，因为较低的利率降低了客户的借贷成本。
@Tiger_SG @TigerStars @Tiger_comments @TigerClub @CaptainTiger
2026 tests adaptation over expansion: rate normalization caps upside, but robust balance sheets and income diversity ensure no rout. DBS offers relative safety; blend holdings for yield and growth.
这就是我的星展银行股票仅通过长期购买和持有就上涨了136%的原因。此外，我还获得了星展银行每3个月支付一次的诱人股息。
做多做强去DBS🚀🚀🚀🌛🌛🌛🌈🌈🌈💰💰💰
@Tiger_SG @Tiger_comments @TigerStars @TigerClub @CaptainTiger
Both DBS and OCBC beat analysts expectations. While DBS has shown stronger fundamentals, its current premium valuation makes OCBC potentially more attractive.
Slow and Steady Wins the Race. 🚀🚀🚀🌛🌛🌛🌈🌈🌈💰💰💰
@Tiger_SG @Tiger_comments @TigerStars @CaptainTiger @TigerClub
Check them in the history - “community distribution“
DBS (D05) could see prudent profit-taking after strong gains, but holding may be beneficial for long-term investors confident in its solid fundamentals and growth prospects
UOB (U11) may be undervalued; buying the dip could be attractive if the weakness stems from short-term factors, but investors should monitor potential structural or regional risks
OCBC (O39) is likely to track the trends of its peers, but its diversified revenue from wealth management and insurance businesses may offer more stability in volatile markets
Bank performance will hinge on global economic conditions, interest rate trends, and market volatility; while growth is possible, risks from recessions, policy shifts, or geopolitical events could weigh on bank stock valuations
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@Huat99
@Snowwhite
Lets see how will this impact overall FY2025 [Surprised]
星展银行的市场情绪非常积极，价格不断攀升，而大华银行已经在缓慢下滑
有趣的是，这两个宠儿会有如此截然不同的结果和结局
预计2025年净利润将小幅下降。尽管面临利率阻力，总收入预计将保持在2025年左右的水平
商业账簿非利息收入将实现高个位数增长，而财富管理收入将实现15%左右的增长