0644 GMT - Singapore banks are likely to deliver resilient 3Q earnings, IG market strategist Yeap Jun Rong says. The banks are poised for further recovery in net fee and commission income, Yeap notes. Retail consumer spending and investment activities should contribute to stable fee streams, he adds. DBS, OCBC and UOB could report slightly lower net interest margins on quarter, though they may post a 1%-2% on-year growth in loans, he adds, citing economic conditions and support for business and consumer confidence. Overall, Yeap expects net interest income to be largely stable, with a low single-digit on-year decline of 2%-3%. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
October 29, 2024 02:44 ET (06:44 GMT)
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