Singapore Banking - UOB Kay Hian 2016-05-04: 1Q16 Roundup ~ Pull-back From Trade Loans; Well Capitalised
OCBC OVERSEA-CHINESE BANKING CORP O39.SI DBS GROUP HOLDINGS LTD D05.SI Banking – Singapore 1Q16 Roundup: Pull-back From Trade Loans; Well Capitalised
- Banks reported single-digit growth in net interest income despite a contraction in trade loans.
- Fees were generally lower yoy with drag from market-sensitive sources. The exception was DBS, which benefitted from its bancassurance partnership with ManuLife.
- The deterioration in asset quality was mild while fully-loaded CET-1 CAR improved 0.4-0.8ppt qoq to above 12%.
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