Financial Services

Staff Reporter

, Singapore

Published:

1 year ago

495 views

The Merlion, with the Marina Bay Financial Centre in the distance, which houses the offices of DBS, HSBC, and Standard Chartered Bank. Photo by Anthony Lim via Unsplash.

SG banks to report ‘softer’ earnings for Q4

DBS may declare a special dividend, according to analysts.

Singapore’s big three banks are expected to report “seasonally softer” earnings for Q4 2024, with more citizens having travelled overseas.

Business activity during the quarter decreased amidst heightened leisure travel and year-end festivities, according toa report by CGS International.

Net interest margin of the three banks is expected to be mixed, with DBS likely recording a small expansion, and UOB and OCBC slipping.

All three banks should have excess capital of around $2.5b to $4b each. DBS, in particular, may declare a special dividend, said CGS International analysts Andrea Choong and Lim Siew Khee.

Meanwhile, UOB has the potential to declare a share buyback program, or even a special dividend. This is based on a mentioned $2.5b in excess capital which it shared on its Q3 2024 briefing.

For OCBC, its insurance income could rebound. It is expected to report seasonally softer fees.

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DBS

OCBC Bank

UOB

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