CGS-CIMB analyst Andrea Choong and Lim Siew Khee say the move by the MAS is the first such preemptive move, which is spurred on by sustained global uncertainty due to the Covid-19 pandemic.
Following the Monetary Authority of Singapore (MAS)’s July 29 announcement on capping Singapore banks’ FY20 dividends, analysts from DBS Group Research, OCBC Investment Research, and CGS-CIMB Research have maintained their “hold” or “neutral” recommendations for the shares of DBS Bank, UOB and OCBC.
