DBS, OCBC, UOB average 47% net profit growth in 9MFY21

The 3 banks make up 20% of the total market capitalisation of SGX-listed stocks.

The Singapore Exchange (SGX) announced that DBS, OCBC, and UOB averaged 47% net profit growth in the first nine months of the financial year 2021.

An average of 23% price gains was recorded, with reinvested dividends further boosting this to 27%.

About 0.5% gains were also averaged by the trio, which outpaced the 0.4% decline for regional banks. By comparison, $70m of net institutional buying was booked, bringing the total net institutional inflow for stocks over the weel to $32m.

Overall, the three banks make up 20% of the total market capitalisation of all stocks listed on SGX and represent more than 40% of the index weightage of the Straits Times Index. The three are also a recipient of $1.6b of net institutional flows.

Earlier during the month, DBS, OCBC, and UOB reported net profit growths of 46%, 58%, and 37%, respectively.

On DBS’ end, the three quarters were the three highest in history.

Despite this, however, all three banks reported year-on-year declines: DBS with 99%; OCBC, 68%; and UOB, 53%.

Meanwhile, the three banks also reported a rise in their net fee and commission income, with YoY increase of 17% for DBS, 16% for OCBC, and 24% for UOB.

Follow the link s for more news on

DBS

OCBC Bank

UOB

banks

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia