Total AssetsSingaporean banks performed excellently across the board this week. DBS announced record full-year results on Thursday (adjusted net profit +24.6%, dividend increased by 52% to S$0.57).
OCBC ($Oversea-Chinese Banking Corporation(O39.SG)) and UOB ($United Overseas Bank(U11.SG)) followed suit on Friday morning, both exceeding expectations with double-digit profit growth.
The FTSE Singapore Straits Times Index (STI.SG) closed at 5,638.99 (+1.03%) on Thursday and extended its gains to approximately 5,656 (+0.3%) in Friday's early trading.
Although the three major banks are already leading the pack, other sectors are showing weak upward momentum. Besides financial bank stocks, there must be other diversified sectors keeping pace.
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Singapore's banks delivered a clean sweep this week: DBS, SGX and Venture Corp all beat, then OCBC and UOB followed with strong earnings of their own, sending $FTSE Straits Times Index(STI.SG) to fres...
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