DBS, UOB, and OCBC reported record earnings in 2024 and raised their dividend payouts. We explore whether they’re still worth buying with close to 6% dividend yield.
What happened?
The strong share price performance of Singapore banks has caught the attention of many investors.
For example, DBS' share price reached an all-time high of S$46.85 recently after the bank reported its 2024 earnings.
Likewise, UOB and OCBC's share prices have edged higher so far this year too.
Over the past 1 year, Singapore banks have performed better than the benchmark Straits Times Index (STI).
However, with growing concerns of an economic slowdown and a fall in interest rates, I have seen discussion in the Beansprout community about whether it might still worthwhile investing in Singapore banks.
In this article, I will look at the recent financial performance of DBS, UOB and OCBC to understand what is supporting their share price, and find out more about their prospects in the year ahead....