Singapore banks stocks gain an average 1.4%
Average annualised return was as admirable.
While Singapore’s three largest banks have, so far, an average decline of 2.8% this year, the triumvirate finished strong on Wednesday averaging a 1.4% gain and outperforming Bloomberg Asia Pacific Banks Index which gained 0.1%.
According to SGX, the combined turnover of DBS, OCBC, and UOB was $187 million, 70% better than the last five sessions, pegged only at an average daily combined turnover of $110 million.
As of the end of last week, the banks averaged 5.1% in annualised total returns, way higher than Bloomberg Asia Pacific Banks Index’s 2.7%, with OCBC generating a 2.2% total return and DBS and UOB both generating a decline in total return, of 5.2% and 5.3% respectively.
The three banks also maintain an average return on equity (ROE) of 10.9%, and average P/B ratio of 0.97, which is level with their average P/B ratio at the end of the March 2016 quarter, SGX said.