DBS, OCBC and UOB are earning more from wealth management. Here’s what Singapore’s wealth boom means for dividends of local banks. What Happened? Singapore bank stocks have done well in recent years. DBS and OCBC's share prices have climbed to record highs as investors continued to favour the sector. For much of this period, investors saw Singapore banks as beneficiaries of higher interest rates, which lifted net interest margins and earnings. That tailwind is now starting to fade as benchmark interest rates decline. This could put pressure on net interest income, which has been a major driver of bank profits. Yet the latest results of DBS, OCBC and UOB showed that earnings remained resilient, helped by stronger wealth management income across the three banks. With Singapore becoming one of Asia’s key wealth hubs, more high-net-worth individuals, family offices and institutions are using the country as a base to manage their assets. For the local banks, this creates another source of income beyond lending....