Chart of the Day: Check out this comparison of Singaporean banks' net interest margin

NIMs for UOB, OCBC dipped 6bp.

According to CIMB, there was divergence in the banks‟ margin guidance. DBS thinks its NIMs (+2bp in 1Q) can stay stable, with perhaps pressure on funding costs in the region weighing down margins. 

CIMB said that NIMs for UOB and OCBC were down 6bp. Both blamed it on lagged mortgage re-pricing. OCBC said that 40% of its margin squeeze derived from this and guided that the pressure could persist in future quarters.

"UOB said lagged mortgage re-pricing contributed to 30% of its margin squeeze, with the rest of it attributed to low spreads for 1Q‟s incoming chunky loan deals," CIMB said.

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