He adds that the news will not pose any systemic risks or spillover effects to the banks in Singapore.
RHB Bank Singapore analyst Shekhar Jaiswal says the private banking units of DBS (SGX:D05
) and Oversea-Chinese Banking Corporation (OCBC) (SGX:O39) may benefit from the negative news flow after the recent spate of banking crises.
In his March 29 report that came after meetings with investors in Kuala Lumpur, the analyst sees the possibility of DBS and OCBC’s private banking units gaining market share as the wealthy elite and family offices may look to move their assets and diversify their holdings amid UBS’s takeover of Credit Suisse.
