Both Oversea-Chinese Banking Corporation (SGX: O39), or OCBC, and United Overseas Bank (SGX: U11), or UOB, release results tomorrow morning, 7 August 2026. Neither bank declared a dividend for the first quarter of 2026 (1Q2026). Both run semi-annual payment schedules. Tomorrow brings the first dividend decision of the year from two of Singapore’s three local banks. The first quarter gave income investors a clear baseline. It also left the two banks pointing in opposite directions.

Will OCBC’s fee engine keep running?

OCBC ranks as Singapore’s second-largest banking group. It runs commercial banking, wealth management and insurance across more than 19 markets. Great Eastern Holdings (SGX: G07), its subsidiary, carries the insurance arm. The bank counts Singapore, Malaysia, Indonesia and Greater China as its core markets. For 1Q2026, the group reported total income of S$3.8 billion, up 5% year on year (YoY). Management described the figure as a new high. Margins worked against the bank. Net interest income (NII) fell 5% YoY to S$2.2...