DBS, OCBC, and UOB’s STI weight rises to 52.1% in April

The three banks delivered an average total return of 107%.

The combined weightage of DBS, OCBC, and UOB in the Straits Times Index (STI) increased from 39.6% at the end of 2019 to 52.1% in Q1 2025. 

Over the same period, the three banks delivered an average total return of 107%.

Between 1 and 14 April, concerns over potential first-order and second-order impacts from tariffs led to downward revisions in target prices for the banks, resulting in an average total return decline of 13.7% for the trio. 

In response, retail investors moved quickly, net buying $1.47b worth of STI bank stocks during that period.

From 14 April to 13 May, the three banks rebounded, recording an average total return of 12.3%. Retail investors continued to net buy, though at a slower pace, adding $65m during the period.

Meanwhile, the three-month compounded Singapore Overnight Rate Average (SORA) declined to 2.56% in Q1, while the banks’ combined net interest income (NII) remained above $8.0b.