Transactions made in Apr 2020:- Bought 1,000 units of DBS at $19.55- Bought 1,000 units of OCBC at $8.63

I continued to buy stocks in the banking sector in the month of April as shared in my earlier posts in Apr and Mar. Do note that this is not a buy call. Please DYODD. I am going in with a long time horizon of at least 2 years and with expectations that these banks will cut dividends or not give out dividends in the near future as they maintain high capital levels.

DBS has just announced their Q1 2020 result and maintained their dividends for this quarter at 33 cents. It is important to note that this result, similarly for UOB and OCBC upcoming Q1 2020 financial result, will not and does not capture the full impact of the Fed rate cuts. The full impact of the rate cuts will be felt in the Net Interest Margin