DBS' share price has performed better than UOB and OCBC after it reported a record profit. We find out what if DBS is still a better buy for income investors.
What happened?
The share prices of Singapore banks have been fairly strong so far this year.
DBS is trading close to an all-time high of $35.69, after completing its bonus issue and announcing a record first quarter profit.
OCBC is also trading at close to an all-time high reporting a record first quarter net profit.
As we shared earlier, both DBS and OCBC are Singapore blue chip stocks which managed to grow their profits in the first quarter of 2024.
DBS and OCBC have gained 17.7% and 11.4% respectively so far this year, outperforming UOB which has a more modest gain of 7.2%.
Nevertheless, Singapore banks have outperformed the Straits Times Index (STI), which has risen by 3% year-to-date.
Let us dive deeper into the...