DBS

Some banks posted 49% year-on-year growth

NIMs will rise but the expansion could decelerate due to higher funding costs.

DFI Retail Group is the outperformer.

But it is still higher than the average since 2011.

ThaiBev, Frasers L&C, and DBS were top stocks.

Investments in AI are at an accelerating pace for DBS, UOB, and OCBC.   Banks in the Lion City have been deploying AI and big data at an accelerating pace, analysts from Maybank said.   Amongst the banks that are investing in these technologies are DBS, OCBC, and UOB.   For instance, DBS allocated $1b annually for the past four years. In fact, the bank sent out 30 million personalised insights to 3.5 million customers.   Another bank investing in such tech is UOB, which sought to spend $500m to scale digital offerings until 2026, on top of the average $535m spent on technology yearly in the past four years.   OCBC also made its technological investments such as the AI lab it already launched in 2019.    “These investments are now reaching commerciality, enabling the banks to leverage customer data and relationship-driven insights,” read the report.   What these advancements are doing is to allow banks to leverage customer data as well as relationship-driven insights.   For example, in retail banking, it is initially translating into serving up personalised product offerings including discounts and targeted deals.   The advanced tech also offers customised insights on customer spending habits and automated assistance on payments and subscriptions are becoming standard offerings on their digital apps.

RHB said there will be tailwinds from hikes in federal funds rate.

Airlines can access up to US$20b in savings from payment processing fees.

Of this, 8 were small and medium enterprises.

This will be for the five million DBS/POSB customers. 

Yangzijiang Shipbuilding was the top active stock with a 2.92% increase.

Repo transactions will finish within hours instead of one to two days.

Sembcorp Industries was the top active stock with a 5.17% increase.

It is the world’s largest real estate green loan in Asia to date.

The Chinese government is looking to slowly ease its travel restrictions.

It’ll benefit them over the next three quarters, but asset quality may deteriorate after.