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Who is the strongest local bank in Singapore?
13-10-2016, 01:04 AM.
Post: #21
RE: Who is the strongest local bank in Singapore?
"Personally, I think banks are slightly cheap now. I could buy half a position if I had lots of money and nowhere else to put it"

har, not a good choice i think, nowhere else to put it...

Why not grab some STI index stock?

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13-10-2016, 07:31 AM. (This post was last modified: 13-10-2016, 07:38 AM by specuvestor.)
Post: #22
RE: Who is the strongest local bank in Singapore?
(12-10-2016, 09:08 PM)BlackCat Wrote: Inspired by this thread, and because bank shares have fallen for a year, I took a look at the local banks:

Part 1: Intro & Non-interest Income

Part 2: Losses & Leverage

Part 3: Deposits & Derivatives

Part 4: Returns and Valuations

I found that, over the long term:
  • OCBC is the most conservative bank, with the lowest allowances and highest returns/risk-weighted-assets
  • DBS has the lowest cost of deposits
  • UOB has the highest ROA
Personally, I think banks are slightly cheap now.  I could buy half a position if I had lots of money and nowhere else to put it.

I haven't read your blog in details but your conclusion above is generally right, but I do think that there has been some changes in the past decade where OCBC has become less sleepy and UOB less shrewd due to management. I feel that they have become more similar and so historical relative valuation might not hold anymore
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13-10-2016, 08:36 AM.
Post: #23
RE: Who is the strongest local bank in Singapore?
Sg Banks are likely facing further headwinds which may not have factored into the price yet. 

1) More defaults as more OnG company go belly up.
2) Property market bubble hasn't really fully pop yet, more deleveraging to go.
3) Basel 4 regulations are coming soon. http://www.todayonline.com/business/spor...s-basel-iv
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