Part 8/10:
Among the three, analysts see OCBC as holding the most favorable outlook. Its strong wealth management franchise through Bank of Singapore stands out, with net new money inflows outperforming its peers in the first quarter. Higher net interest margins and sizeable capital buffers—at 16% CET1 ratio—further bolster its position.
This strong capital position offers reassurance, allowing OCBC to potentially sustain higher dividends and provide a margin of safety for investors. While all three banks are expected to maintain solid dividends, the valuation premium they currently enjoy means they are somewhat overvalued—trading at a slight premium relative to their intrinsic worth.