Wickramasinghe attributes the potential earnings disappointment to weak trading income and mark-to-market losses on investment securities, given the substantial macro-volatility during the quarter.
Maybank Singapore’s Thilan Wickramasinghe warns that Singapore banks might disappoint when they report their trading update for 1QFY2022 ended March 31 on April 29.
Yet, if the share prices of DBS Group Holdings, Oversea-Chinese Banking Corp and United Overseas Bank dip as a result, it is actually a buying opportunity, writes Wickramasinghe in his April 14 note.
