Moving into the 2nd half of 2021, investors are getting excited to jump back into bank stocks with the
recent update from MAS, releasing the dividend cap that was placed onto banks in 2020. With our 3 local banks,
DBS (SGX: D05),
UOB (SGX: U11), and
OCBC (SGX: O39) just released their 1H 2021 results, many investors are wondering if they are too overvalued at this point or is there still more upside to go? In this article, I will go through the 1H 2021 results of our 3 local banks as well as discuss if they are still a great investment at its current valuation.
Operating Performance
| Year on Year Difference |
Revenue |
Profit Before Allowances |
Allowances Made |
Net Profit |
| DBS |
S$7.443 billion (-4%) |
S$4.313 billion (-8%) |
S$89 million (-95%) |
S$3.712 billion (+54%) |
| UOB |
S$4.903 billion (+5%) |
S$2.827 billion (+9%) |
S$383 million (-44%) |
S$2.011 billion (+29%) |
| OCBC |
S$5,486 billion (+7%) |
S$3,621 billion (+12%) |
S$393 million (-72%) |
S$2.661 billion (+86%) |
...
