Singapore banks reported 1H22 results

This year the trio of DBS, UOB and OCBC have contributed more than 25% of the average daily turnover of the Singapore stock market, while averaging a 3% YTD total return following the 25% average total return in 2021. Institutions have also been net sellers of the trio in the 2022 YTD, following on from net buying in 2021.

DBS beats forecasts with Q2 earnings up 7%, boosted by interest rate hikes.

United Overseas Bank (UOB) has reported a net profit of $1.11 billion for the 2QFY2022 ended June, 11% higher than the net profit of $1.0 billion reported in the same period the year before.

OCBC reported a stronger-than-expected 28% jump in quarterly profit and gave a robust outlook as rising interest rates pushed up its net interest margins.