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DBS rises more than UOB and OCBC after record profit. Still a better buy?
By Beansprout  •  May 30, 2024
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...
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.
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