Maybank positive on Singapore banks despite rising rates; UOB is its top pick

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SINGAPORE (May 22): Maybank Kim Eng is remaining “positive” on Singapore’s banking sector in spite of rising fixed deposit (FD) rates as it continues to anticipate catalysts from NIM expansion, higher loan growth and fee income.

The research house’s top “buy” pick is UOB, which has a target price of S$32.88, for its pricing discipline and dividend upside potential.

OCBC and DBS have been rated “buy” and “hold” at target prices of S$14.60 and S$30.80, respectively... (Click here to read the full story)