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Singapore Banks
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zhuge_liang
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26-Mar-2007 12:53
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DBS will be permitted to open up to 8 new branches in India, while UOB will be allowed to open 1 branch by July, said the Business Times citing India's Commercial Secretary GK Pillai. |
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zhuge_liang
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02-Feb-2007 20:30
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Banks rallied after the Monetary Authority of Singapore late on Thursday announced that it would allow banks to offer unsecured loans to people with annual incomes of as low as $20,000 from $30,000 with effect from mid-2007. Dealers said the move has raised hopes that banks would be able to tap into a new customer base. But analysts such as Kenneth Ng of CIMB said potential additions to banking system loans would be just $630 million. "That's a drop in the ocean versus current loans of $194.6 billion. We see a positive, although a small impact," he said. "We expect the banks to be more cautious of this segment as NPLs (non-performing loans) occurence is expected to be higher," said Ng. |
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Nostradamus
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31-Oct-2006 18:13
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Commercial bank lending in September rose to $194 bln from $181 bln a year ago as lending to businesses continued to pick up and mortgage loans remained robust, the Monetary Authority of Singapore said. Lending to business rose to $102 bln in September from $89 bln a year ago, while loans to consumers rose to $92 bln from $91 bln. Within the business sector, demand for fresh loans came from manufacturing firms, building and construction companies, and financial institutions, the MAS said. Growth in consumer loans continued to come from mortgages, which grew to $63 bln in September from $61 bln a year ago. |
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Nostradamus
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13-Oct-2006 11:09
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UBS says it has raised its target prices for UOB and OCBC in the belief that that banks here will continue to improve their margins and surpass expectations of loan growth. The investment bank has raised its target price for UOB to $19.10 from $17.60 and for OCBC to $8.00 from $7.85. "We think a sustained rebound in margins and upside surprises in loan growth are the catalysts for further re-rating. Already core return on equity is near the record and moving higher in an environment of more normalized interest rates and what appear to be the best loan opportunities in over a decade," UBS said in a note to clients. "The market seems to be underestimating loan growth, which we think could surprise on the upside as Singapore enters a new phase of secular growth. In particular, we expect construction and housing loans to be strong in this reflationary environment. We revise our 2007 loan growth assumption from 7% to 12%." DBS remains UBS's top pick among banks here because of its perceived leverage to both the loan growth and interest rate cycle, UBS said. Earlier, UBS said it had raised its target price for DBS to $25.00 from $21.50. |
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Nostradamus
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12-Oct-2006 00:33
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CSFB said that while DBS remained its top pick, UOB enjoys a cheaper valuation as it has a forecast PE 12.4x vs DBS' 13.9x. |
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Nostradamus
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09-Oct-2006 19:39
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Analysts said the Oct. 27 debut of China's top lender ICBC also hit regional bank stocks as some investors cut their exposure to Southeast Asian banks so that they could invest in ICBC instead. |
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Nostradamus
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05-Oct-2006 22:36
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Banks led gains as investors bet that a pickup in construction, thanks to the city-state's two casino projects, could boost loan growth in the country. Kenneth Ng, an analyst with CIMB-GK Research, said in a note that he had raised his estimate for loan growth for Singapore's banks next year to 8% from 5.3%. "Construction is the main area of surprise domestically," said Sunil Garg, the regional financials analyst at JP Morgan in Hong Kong, adding that "valuations are reasonable". Shares in DBS trade at 14.4x their forward earnings, compared to an average of 15.6x for Asia Pacific banks, Reuters data showed. |
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YongJiu
Veteran |
05-Oct-2006 16:29
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This seem to be a good news for OCBC player =) |
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Nostradamus
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05-Oct-2006 12:30
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CIMB-GK says it has raised its target prices for DBS, UOB and OCBC because it expects strong growth in their lending. "Singapore system loans grew 5.4% ytd, well ahead of 2005's 2.2% and 2004's 4.4%," CIMB-GK said in a note to clients. "We believe that Singapore loans have room to expand to 10% in 2007 and 2008." The brokerage has increase its loan growth assumptions for both DBS and UOB to 9% from 6% and for OCBC to 6% from 4%. However, the brokerage is keeping its "neutral" rating on the banking sector because it expects the pickup in loan growth momentum to be mitigated by muted margin expansion. "Despite anecdotal data on economic reflation, the recent run-up in share prices has left little on the table for investors," CIMB-GK said. The brokerage said that DBS is its top pick from the sector, that it is keeping its "outperform" rating for the stock and that it has raised its target price to $22.55 from $20.25. It has raised its target price for UOB to $18.52 from $17.00 and for OCBC to $6.83 from $6.75. But it said that in in view of the limited upside for these stocks, it had lowered its rating for UOB to "neutral" from "outperform" and for OCBC to "underperform" from "neutral". |
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bsiong
Supreme |
02-Aug-2006 11:37
Yells: "The Greatest Wealth is Health" |
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FYR: http://www.remisiers.org/research//Spore%20Banks1%20Aug06%20cs.pdf |
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