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3 BIG Spore banks ....:))
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FATABA
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03-Nov-2020 10:12
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A biden win is expected and if so it can be very positive for Asia at least for the short term Spore banks shld lead in the rise. Esp w a better then expected result on Wed n Thur DYODD Happy investing. |
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FATABA
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03-Nov-2020 09:21
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TMR is UOB result / morning before market opens .....hold it wld not set a neg mood to the other 2 banks on Thur. ( also coinside w US election result ) Dbs is still expected to do reasonable well and w 18c dividend. DYODD Singapore&rsquo s broad money supply grew 11.3% on year in September, inching down marginally from the 11.8% expansion logged the month before. This follows a plunge a 5.4% year-on-year contraction in government deposits in September, which also marks the parameter&rsquo s first contraction since June 2019, economists at RHB Singapore&rsquo s Research team say in an Oct 30 note. Similarly, Singapore&rsquo s foreign reserves saw the addition of US$0.5 billion ($0.7 billion), bringing the total holding for the month to US$328 billion. Meanwhile, bank lending growth for local and Asian currency units moderated to -0.2% year-on-year, improving from August&rsquo s -0.8% performance. This was heralded by a -1.8% year-on-year decline in loans to consumers due to lower lending for credit card (-13.5%), cars (-6.9%) and other segments, the RHB team observe. |
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CheeryVGoh
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02-Nov-2020 17:19
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From Monday, small and medium-sized enterprises (SMEs) in financial distress because of the Covid-19 pandemic will be able to access the Sole Proprietors and Partnerships (SPP) Scheme and Extended Support Scheme - Customised (ESS-C) to restructure credit facilities and debts owed to multiple lenders. The two schemes, both launched on Sunday, are part of a package of extended relief measures announced by the Monetary Authority of Singapore (MAS), the Association of Banks in Singapore (ABS) and the Finance Houses Association of Singapore on Oct 5.
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FATABA
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02-Nov-2020 13:01
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DBS rise 23c by lunch as compare to UOB n OCBC / mainly due to the present of more business these 2 have in Msia ( as stated in the article below ) OR we are expecting some better then expected result from DBS > anyway the gap btw UOB n DBS is 1.50 now ( wow) Dyodd |
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FATABA
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02-Nov-2020 10:58
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Singapore banks' Q3 results in focus over Malaysia debt holiday impactSpotlight on UOB and OCBC as Malaysia is a key market for the two banks DBS has negligible presence there
WITH some global banks rolling back their most dire projections on how the pandemic will hit their books this year, the focus falls on Singapore banks to see how their performance in Asia would square in Q3. As Malaysia' s loan moratoriums have been tightened from automatic qualification to targeted debt holidays for applicable borrowers since this month, analysts are looking for the impact of the payment delay on two of the trio. Malaysia is a key market for OCBC and UOB, making up about 14 per cent of OCBC' s core pre-tax profit and about 11 per cent of UOB' s overall pre-tax profits in 2019. DBS has a negligible presence in Malaysia. Malaysian loans - mostly secured - account for half of OCBC' s loans under moratorium and 60 per cent for UOB. CGS-CIMB Securities banking analyst Andrea Choong expects repayment trends of OCBC' s and UOB' s Malaysia books to hold up, given the banks' higher-tiered client segment there. UOB could be a larger beneficiary of improved asset quality indicators given its larger share of Malaysian loans under moratorium compared with OCBC. New non-performing loans (NPLs) could also be smaller than what was previously guided, Ms Choong added. UOB management previously disclosed that 16 per cent of its loan book is under moratorium, out of which about 10 per cent of loans under moratorium could become NPLs. The performance there would " impact the assessment of the eventual moratorium expiry in Singapore and their gauge of NPLs" , she said. " This would give the market a better picture of how realistic or conservative the banks' guidance for impairments is, to judge whether the worst is over." Likewise, Krishna Guha, equity analyst at Jefferies, said if collections are healthy once the moratorium has lapsed in Malaysia, the proportion of loans under moratorium for UOB should come down. Even so, analysts said that credit costs will likely stay elevated across the three banks as management remains prudent, with the economy still in the doldrums. But Tay Wee Kuang, analyst at Phillip Securities Research, said based on previous provisions, there may not be cause for any of the banks to increase provisions at a faster rate, unless there is an unforeseen uptick in specific provisions arising from big accounts. DBS analyst Lim Rui Wen also thinks that major new NPLs are unlikely due to ongoing moratorium and relief measures in place. Most of oil-and-gas-related NPLs linked to Hin Leong have also been largely provided for. With the latest extensions of support measures for individuals and SMEs facing cashflow difficulties, specific provisions may only pick up in the first half of 2021, she said. Among the three banks, she expects UOB to see the highest provisions as the bank lags the rest in terms of actual provisions, even though UOB has set aside S$260 million in regulatory loan loss reserve during the first quarter for general provisions. Similarly, Ms Choong expects DBS and OCBC to see larger quarter-on-quarter credit cost improvements, given their more " aggressive" front-loading of provisions in the first half of the year. Those of UOB will likely remain elevated, she said. Phillip' s Mr Tay noted that the rolling back of US banks' most severe prognosis of the Covid-19 situation coincided with a positive recovery in the economic data released over the past few months. " However, the Singapore economy remains subdued as the government evaluates reopening plans," he noted, adding that local banks will continue to pursue their targeted credit cost guidance. This may change only if the economy and the most deeply impacted sectors recover close to pre-Covid levels, he said. Shares of the three local banks have fallen 21-28 per cent since the start of the year, with UOB losing the most ground in percentage terms. But checks by BT also showed there has been a slight lift in optimism, judging by the marginally higher number of " buy" calls for DBS and OCBC at this point. Analysts expect net interest margin (NIM) pressures to remain for the three banks as loans continue to price downwards, but are on the lookout for signs of stabilisation this quarter. Jefferies' Mr Guha is expecting DBS to see the most compression in margins quarter-on-quarter, followed by OCBC. NIM for UOB, on the other hand, could reverse after falling sharply in the second quarter, he said. This improvement comes as the bank let go of more expensive deposits during the quarter. Revenue will likely be supported by fee income. Ms Lim believes that fee income across all banks will show sequentially better performance, driven by strong rebound in wealth management, bancassurance, and cards. However, trading income may be weaker quarter-on-quarter, due to the second quarter' s high base effect, she added. This could result in mixed overall non-interest income. UOB will kick off the third quarter results season on Nov 4, followed by DBS and OCBC on Nov 5. Shares of DBS closed at S$20.35 on Friday, down 21 Singapore cents OCBC closed at S$8.42, down four Singapore cents UOB closed at S$18.99, down 12 Singapore cents. |
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FATABA
Supreme |
30-Oct-2020 17:16
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LOL on Website SGX now ....just testing NOT approved yet. https://pulsenews.co.kr/view.php?sc=30800021& year=2020& no=1106168
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St.Maximus
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29-Oct-2020 22:57
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They increased too soon. 4th Quarter will be bad for them. Oil will fall.
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FATABA
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29-Oct-2020 16:10
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Oil major Shell increases dividend as third-quarter earnings beat forecastsGD news .....I dont expect our banks to follow ....but do spell a slow recovery of the mkt for some sectors. that have manage well |
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CheeryVGoh
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29-Oct-2020 16:07
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Approval not gotten yet, whoever who released the news pre-maturely, sure got it left right centre.
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FATABA
Supreme |
29-Oct-2020 15:53
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SAD .....our STI is now back to aro 2450 ...... All 3 banks are trading below its book value ...in fact for UOB n OCBC its 0.8X dividend stock like Singtel SIA and SATS all see new low ....... The economy is bad ......BUT We are one of the many country which has BEST control the pandemic ( mayb 2nd to Tw or NZ etc ) We are opening up ...phase3 coming ......yes we cant be having a worst qtr then Q2 ? ( which was totally close ) EVERY SELL THERE IS A BUY ......so who is buying up when retail sell ? In Q1 2021 .....let revisit this and see where Spore STI stocks are .....slow but shld have a steady return I hope . dyodd |
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FATABA
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29-Oct-2020 15:29
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This honestly was a surprise ( which DBS take down immediately ) CC is NOT approved by MAS or many countries officially . FOr DBS to be into this is very funny in some way . Let see the risk in this as against the amt it can earn from this site ?? ( I personally dont think worth it for DBS ) Time will tell. Dyodd
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CheeryVGoh
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29-Oct-2020 12:21
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DBS creates buzz with its plans for crypto currency exchangeWeb page for its digital currency exchange made public briefly on Tuesday bank says it' s still seeking regulatory nod, declines further comment
THU, OCT 29, 2020 - 5:50 AM
KELLY NG[email protected]@KellyNgBT
A DIGITAL currency exchange backed by Singapore' s largest lender DBS is in the works, although the bank is still in the process of seeking regulatory approval. Industry observers say that if approved, the DBS Digital Exchange could be one of the world' s first crypto exchanges backed by a traditional bank. A version of the exchange' s Web page, made public for a short while on Tuesday but later taken down, said the platform will list four top crypto currencies - Bitcoin, Ether, Ripple and Bitcoin Cash, against multiple fiats, including the Singapore dollar, US dollar, Hong Kong dollar, and Japanese yen. An archived version of the Web page said that the exchange will allow companies - small and medium-sized enterprises and large corporates alike - to raise capital via security tokens through the digitisation of their securities and assets. This will allow issuers to reach a wider base of investors that might not traditionally have access to such tokens. |
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CheeryVGoh
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29-Oct-2020 11:49
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Yes, profit of the banks may be lesser than Q2, but surely still very profitable. UOB' s report saying that OCBC qoq will be positive. We sure have the answers for Q3 results very soon.
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FATABA
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29-Oct-2020 10:36
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Yes, I do agree the profit is expected to drop by all 3 banks BUT all 3 will remain profitable . IN fact DBS ( shld still hv $1B profit unless they put in a very large provision) OCBC is still trading below 0.8x bk ( how many good bank w profit and a large INsurance arm trade at this value ? ) further BOTH dbs n ocbc has gd growth in wealth mgt ..AUM is growing As for UOB ...my main concern in on the loan to SME ? ( this can present unwanted lost if any fails ) ...but the price for UOB is much depressed Dyodd
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FATABA
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29-Oct-2020 10:12
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DBS Group Research ups Singapore' s FY2020 growth forecast, says recovery ' underway' but remains unevenTo that end, Seah expects an upward revision of headline GDP growth for 3Q2020 to -5.4% y-o-y in 3Q2020 from the 13.3% contraction in 2Q2020.Yet, he says, the recovery will remain uneven and growth performance across sectors will &ldquo differ considerably&rdquo . Segmentally, Seah estimates contractions from 4.6% to 34.0% in the wholesale and retail sector, business and transport services, construction, and hotels and restaurants. He also foresees growth of 1.4% to 7.5% in the information and communications, manufacturing and financial services sectors. The tourism sector, which has been badly hit by the pandemic, has continued to struggle. Likewise, the services sector is also expected to remain a drag on growth and employment. Exports and industrial production (IP) are recovering strongly, which will prompt an upward revision in 3Q2020 GDP figures. |
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St.Maximus
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27-Oct-2020 23:14
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Looks as though these analysts have already got wind of the banks' 3Q results already! Usually, we use a consensus of brokers to estimate the bank profits and their average estimate is usually close enough to the true figure. But in these turbulent times, I hesitate to estimate bank profits so ' zhunzhun' because the margin of error will be wide in these more uncertain times. How do we know the banks' debt provisions? How do we estimate even the net interest incomes with fluctuating interest rates? There are so many possibilities for error, and yet many analysts like UOB KH ' predict' a figure to the closest million (1,106m for DBS). I' d say it would be better to put a range of say 1.0-1.2 billion (for DBS), then estimating based on such precise (e.g. to the nearest million) figures. A less precise one (to the closest 0.1 billion) may be required. It may prove more accurate in the end. More precision does not necessarily mean more accuracy. Here, I am recommending a less precise estimate to get a more accurate/correct estimate. |
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CheeryVGoh
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27-Oct-2020 22:45
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FROM : UOB KH (19/10) We expect DBS and OCBC to report net profits of S$1,106m (-32% yoy and -11% qoq) and S$922m (-21% yoy but +26% qoq) respectively for 3Q20. NIM has bottomed, while wealth management fees have rebounded and credit costs moderated on a sequential basis. Asset quality remains benign. Preferred BUYs are DBS (Target: S$23.50) and OCBC (Target: S$11.48) because they have less exposure to moratorium loans but have higher loan loss coverage. Maintain OVERWEIGHT FROM : DBS (21/10) Maintain BUY for UOB and HOLD for OCBC. We believe potential negatives in 3Q20 results for UOB are largely priced in and further improvement in loans under moratorium for UOB should be viewed positively. OCBC remains a HOLD we remain watchful over potential M& A activity as it continues to apply a discount on its scrip dividend in 2Q20 Singapore banks seek to manage cost of funds to buffer against NIM decline. From July to Aug 2020, OCBC, DBS and UOB have cut interest rates on their flagship accounts by ~40-70bps. This will lower cost of deposits in 3Q20. On 3 September 2020, OCBC issued a US$1bn tier-two subordinated note due 2030 at 1.832% until call date (September 2025) while UOB priced a US$600m tier-two subordinated note due 2031 at 1.75% until call date (March 2026) as banks leverage on the current low interest rate environment to refinance maturing subordinated notes ahead of time and improve capital adequacy in the interim. |
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uiop1223
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27-Oct-2020 17:52
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To me, its simple. They can call VCF or simply a loan. Question is , can bank recovers the loans?
Results should be worse off for all 3 banks as compared to same qtr comparison. Expect 3 banks to provide more provisions. |
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CheeryVGoh
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27-Oct-2020 17:31
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I also think that Q3 results should still be good. UOB dropped more than DBS & OCBC, might be due to more exposure to construction firms' loan compare to the other 2 banks.
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uiop1223
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27-Oct-2020 17:17
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DBS and SGX power. Most of my longs are these 2 counters 👍 👍
UOB vcf may become bad loans or not? Banks now do national service may means NPL. |
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