The mainstream financial media loves to talk about our local bank stocks. And I don’t deny that these stocks are also my personal favourite.
It’s a question that has been repeated ad nauseum.
“Should I sell DBS Group?”
“What bank should I buy?”
“Do you think banks will keep going up?
And I can understand why.
After all, the three biggest banks in Singapore make up close to 40% of the Straits Times Index (STI). It’s natural for investors to be curious.
And frankly, there’s good reason to do so, since these banks are the key pillars of Singapore’s economy.
So, here’s a good breakdown on the potential growth drivers for our local banks come 2021.
Wealth management poised for strong growth
Singapore is a growing financial hub.
A Deloitte International Wealth Management Centre Ranking in 2018 puts Singapore as the second-largest wealth hub in Asia, behind Hong Kong....