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Chart from STI

DBS, OCBC, and UOB post combined net interest income of $8.3b in 4Q23

4Q23 marks the 5th consecutive quarter that the combined NII of the big three was above $8b.

DBS Group Holdings (DBS), Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) have reported a combined net interest income (NII) of $8.3b in 4Q23, data from the Straits Times Index (STI) showed.

The trio of STI banks have reported a combined NII of above $8.0b for five consecutive quarters, with 4Q23 being the fifth.

“Prior to 2Q22, the three banks had reported as many as 17 consecutive quarters of combined NII between $4.0b and $5.0b, before higher interest rates saw the combined quarterly NII increase to above $6.0b in 2Q22, above $7.0b in 3Q22, and surpassing $8.0b in 4Q22,” STI reported.

For the full year (FY23), the trio reported an NII of $33b and a non-interest income (NOII) of $15b. 

The FY23 combined NII was up 22% from FY22, whilst the combined NOII of the trio was up 18% from FY22. 
 

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