Big 3 Local Banks +ve Earnings Report?

As we progressed in this high interest rate environment, it is highly likely that our dear local banks $UNITED OVERSEAS BANK LIMITED(U11.SI)$ $DBS GROUP HOLDINGS LTD(D05.SI)$ $OVERSEA-CHINESE BANKING CORP(O39.SI)$  will continue doing well with higher net interest margins and income.

Uob has just released its earnings a couple of days back. Investors are not disappointed as the company has enjoyed a whopping 27% increase in net profit y-o-y compared to Q2 last year. Uob CEO has also assured investors that its acquisition of Citi's consumer business in the SEA region is spanning out well. With this increase in customer base in SEA, top lines are bound to gain in time to come.

Progressively, OCBC followed by DBS will be releasing their earnings in the weeks to come. I'm pretty confident in the performance of the other 2 banks as well. Hope our dear investors in 3 local banks will pay off!

Here's a look back on the Fed Rate Hikes from 2022-2023.

credits: Forbes.com 

Hope that we have all benefitted from the banks share price gains and fat dividend payouts in the recent year. Interest rates won't stay high forever. So enjoy while it lasts!

Invest safe.

@MillionaireTiger @TigerStars @Daily_Discussion @CaptainTiger