Wealth inflows lift 2026 outlook for financial sector earnings

However, wealth management growth may ease in H2.

Singapore’s financial sector is expected to post stronger earnings in 2026, supported by capital inflows into banks’ wealth management businesses, according to CGS International.

The brokerage raised its 2026 earnings forecast for the sector by 1.9% following the second-quarter results season.

However, growth in banks’ wealth management businesses is projected to ease in the second half, it added.

CGSI expects no further rate hikes by the US Federal Reserve, limiting the scope for Singapore financial stocks to gain further from higher interest rates.

Across its coverage, CGSI raised 2026 earnings forecasts by an average of 1.1% after the first-half results season.

Capital goods and construction recorded some of the largest upward earnings revisions, with forecasts raised by 3.9% and 4.5%, respectively.

Meanwhile, healthcare, telecommunications and technology, and manufacturing saw downward revisions of 10.4%, 5% and 1.4%, respectively.

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