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DBS, UOB and OCBC: Which of These 3 Banks Should You Buy?
By The Smart Investor  •  March 6, 2024
The earnings season is officially over. Some of the best results this season were delivered by the trio of local banks as they saw their top and bottom lines surge in tandem with rising global interest rates. Singapore’s largest bank, DBS Group (SGX: D05), pulled off an impressive performance with its 2023 net profit passing the S$10 billion mark for the first time. The other two blue-chip banks also fared well. United Overseas Bank Ltd (SGX: U11), or UOB, reported a record high net profit while OCBC Ltd (SGX: O39) saw its net profit hit S$7 billion for the first time. With all three banks reporting record results, which should you pick for your portfolio? Financial performance First, we look at each bank’s financial performance. DBS Group takes the cake with a 22.3% year-on-year jump in total income, the highest among the three banks. However, when it comes to net profit, OCBC recorded the highest year-on-year jump at 27.1%....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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